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Friday, August 14, 2020

Trick Daddy Files for Bankruptcy, Bank Says Account is Empty

by Editor (editor) , December 20, 2019

Miami city rapper, Trick Daddy seems to have run into some financial trouble in recent months. According to XXL, the rapper filed for bankruptcy in August 2019. This would be the fourth time he is filing for bankruptcy, having filed once in 2015, then in 2016 and two times in 2019.

Court documents obtained by XXLrevealed that the rapper filed an application for bankruptcy in Florida in August 2019. The rapper owes more than $807,000, which includes $57,119 in child support back payments, $290,000 to the IRS, $435,682 in mortgages. $12,000 to the homeowners' association tied to his home and a lot of credit card debts, which all add up to the total sum of $807,176.86.

Trick Daddy, who was born Maurice Young, stated in his filing documents that his Miramar, Fla. home is worth $350,000. His clothes worth $150. His household goods worth $1,500. His bank account worth $0 and his Trick & Rick Music Publishing stocks worth $5,000.

Trick Daddy, who starred in season one and two of Love & Hip Hop Miami, is not a stranger to bankruptcy. However, he is yet to discuss this recent filling with reporters. His previous three bankruptcy filings were dismissed before his debt was depleted. Apparently, for the rapper, filing for bankruptcy is as easy as just hiring a Chapter 13 bankruptcy lawyer in Los Angeles.

The Love and Hip Hop star was once a household name in the early 2000s when his hit tracks were on the radio. He also doesn't seem to be doing so bad lately. Your Tango reports that Trick Daddy and his long-time friend Trina, are set to start a new morning show together. The two friends would be kicking off at the start of 2020. The outlet also reports that Trick Daddy has recently announced the opening of his new diner Liberty City, Miami. It is surprising that in spite of this apparent recent success, the rapper is filing for bankruptcy at this time.

Trick daddy wouldn't be the first American rapper to file for bankruptcy. The richest of them have been through it, and the reason for this is most likely the avaricious lifestyle that comes with the Hip Hop industry. In 2015, 50 Cent was bankrupt. This happened after the court had mandated him to pay five million dollars in a lawsuit. The rapper was reported to have been $32.5 million in debt while having to pay for the lawsuit and unpaid child support.MC Hammer also filed for bankruptcy in 1996 after racking up a $13 million debt. It happened that after Hammer had made some extraordinary success with his hit track "You can't touch this." He immediately bought a $1 million mansion, then made adjustments to the house worth $30 million and hired two hundred staff. He also added a horse stable to the house, which had 19 racehorses. Needless to say that his unrestrained spending coupled with several lawsuits, led the musician to bankruptcy.



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