If only I had a cent: Curtis James Jackson III, the rapper better known as 50 Cent, filed for chapter 11 bankruptcy protection Monday. In court papers filed in the U.S. Bankruptcy Court in Hartford, Conn., Mr. Jackson reported assets and debts each in the range of $10 million to $50 million. The attorney listed on the bankruptcy petition couldn’t immediately be reached for comment Monday. The filing comes days after a jury directed Mr. Jackson to pay $5 million to a woman who sued over a sex tape, the Associated Press reported. Source:http://blogs.wsj.com/bankruptcy/2015/07/13/rapper-50-cent-files-for-bankruptcy/
"his assets are in the $10Mil range but his debts are in the $50Mil range.." doesn't it just mean he's asset rich and has cashflow problems? unable to pay debts when they are due?.... lol comparing assets to liabilities doesn't really show he's bankrupt, hell if you compare most people with a mortgage/car/etc etc our debts far outweigh our assets/income
I find this hard to believe also~ how do they get themselves into so much debt? What are they doing with their money?~~ I think he 'needs a dollar dollar dollar' so he can 'share his story with me ' LOL
Filing for bankruptcy these days are a way for these bastards that just don't want to pay, even if they have the money. That lawsuit will be dragged for a long time. He's doesn't want to pay his ex girl-friend.
don't know how bankruptcy works over there... over here there sooooooooooooo many things that a bankrupt person can not do. Filing for bankruptcy is not a "get out of paying debts" card here... examples, can't have card to withdraw cash from ATMs, must go into bank to withdraw a court determined amount.
This is why rich folks should only ever go with prostitutes. Get into a relationship and they'll take your every dime...
Most of these people who filed bankruptcy stash their cash elsewhere to dodge taxation, then they move elsewhere to retrieve their cash and live like a king.
Bingo! Although does it mean it will get approved, that's the good question...plus yeah it just means your debts are wiped clean and can start over. Lasts only about 7 years on your record... Dang now that's the way to do it, what country is that?
