Posted on Monday, November 4th, 2013 at 9:43 pm
According to bet.com, Rapper DMX filed chapter 11 bankruptcy, but a U.S. Trustee discovered inconsistencies in his documentation.
According to reports, U.S. Trustee Tracy Hope will try to reduce the rapper’s Chapter 11 filing to Chapter 7, which means DMX will have to sell his properties to repay his debtors.
On a recent document filed by Hope, she noted that the rapper’s debtors are disappointed with federal actions after DMX failed to appear at a meeting with his creditors last September. Hope also noted that the rapper is deliberately delaying the process. DMX, whose real name is Earl Simmons, filed Chapter 11 last July after he had accumulated a debt of $10 million.
The lawyers at Russell Van Beustring P.C. help Houston residents get out of debt. If you are facing mounting debts, call 713-973-6650 to discuss your legal options, including filing for bankruptcy, today.
Posted on Tuesday, October 1st, 2013 at 1:40 pm
A fresh start awaits American rapper “Young Buck” after he gets out of bankruptcy, according to a report released on September 19.
The 32-year-old rapper from Tennessee settled a total of $391,333.59 in outstanding debt. As Young Buck exits bankruptcy, some of his creditors will not be paid, including rapper 50 Cent, who lent him $300,000.
An IRS bill totaling to $42,699 was also paid by the rapper, and more than 85 percent of claims against him have already been settled with the New York State Tax Department. The rapper, whose real name is David Darnell Brown, declared bankruptcy in 2010 after agents of the IRS took his personal properties to pay his taxes.
Sadly, many Americans struggle with debt. Bankruptcy may be the best option for eliminating unmanageable debt. If you or a loved one is struggling with financial problems in Houston, please contact an experienced attorney at the Russell Van Beustring P.C. by calling 713-973-6650 today.