50 Cent To File For Personal Bankruptcy So He Doesn't Have To Pay Sex Tape Lawsuit?

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duckbutta said:
:dahellwhat:

Have you ever tried to by a house before:dahellwhat:

Try doing so with just cash and see how it goes for you:yeah ok:

"Why would his personal credit matter"?

Breh you can't buy anything worth owning in this world without personal credit...

Come on breh do your googles this shyt isn't rocket science...

Look up chapter 11 bankruptcy...look up all it entrails...look up all the rules surrounding it...after you do that...ask yourself...would you rather go through all of that or pay a lawsuit...

The fact that he filed chapter 11 is a pretty strong indicator that this doesn't have much to do, if anything at all, with the lawsuit
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He's talking about buying things just outright cash money. So, if a house cost $1mil .... Fif just pay $1mil...


The problem with this is, if he has cash to pay for a house, he has cash to pay the bytch. So he'll get got for some type of fraud.


Fif in a pickle



Ps... If you saying you can't buy a $1mil house CASH MONEY if you got bad credit, elaborate...:ld:... I don't see how that's possible, but I'd love to hear it if that's what you sayin.
 
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blackzeus

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duckbutta said:
People are confusing what 50spent is doing with what Trump does...

Trump files chapter 11 bankruptcy on his businesses...this allows the business to keep running. This is like someone telling you "I don't have the money right now but I got goods to sale and employees to sell them so lets structure out some sort of payment for what I owe you while my business keeps running and bringing in money."

50spent filed for PERSONAL BANKRUPTCY...though it doesn't say if it is chapter 7, 11, 13...

At any rate, if you got money like 50spent say he got money then it is pretty fukking dumb to put your personal credit at risk to avoid paying 5 million dollars...

He's pretty much painted himself into a corner where if ANYTHING happens to his businesses he is pretty fukked financially...

Things like buying a house or a car...yeah you need good PERSONAL credit for that...and surely we know what filing personal bankruptcy does to personal credit...

People kill me with all this "he got financial advisers he got lawyers" talk

Every financial adviser isn't good...

Every lawyer isn't good...

Their actually two-thirds of the group of people who caused the financial crisis of 2008...

The fact that he could have easily settled out of court let's me know his legal team isn't as strong as needs to be...

50spent better get another producing credit on power to get his money up...

Even funnier filing bankruptcy doesn't mean he still won't owe this woman...bankruptcy doesn't cover something you owe in restitution...

So if she got a decent lawyer he can seek restitution instead of compensation...meaning 50spent could still be on the hook for 5 million...

Never understood why people seek compensation instead of restitution in lawsuits anyway...but that is another thread for another time...
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Technically speaking he did file for corporate bankruptcy with SMS Promotions back in May :francis:
 
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blackzeus said:
Technically speaking he did file for corporate bankruptcy with SMS Promotions back in May :francis:
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How did he do that when he is saying he has all his money tied up in his businesses :francis:

He filing for personal bankruptcy now...you saying he filed for corporate bankruptcy before...

And people questioning if he "has money" :francis:
 
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blackzeus

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Cloud Cloud said:
Imagine Floyd filing bankruptcy after being sued for $5mil :mjlol:


nikka would probably take the bytch to KOD and tell her to pick it up off the floor.


Fif a broke millionaire.:mjlol:
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:clap: Somebody gets its. Floyd would have probably have one of those air blowers in front of her house, and just have the blower spray all the cash in the air while alerting the neighbors and sh*t :heh: Samsung got sued for 2 billy and just shrugged it off and sent it to Apple in truckloads of pennies. :mjlol: There's no way you file for bankruptcy such a small amount of your net worth ( he's worth at least $100M according to many reports) unless that's all you got left :francis:
 
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blackzeus

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duckbutta said:
How did he do that when he is saying he has all his money tied up in his businesses :francis:

He filing for personal bankruptcy now...you saying he filed for corporate bankruptcy before...

And people questioning if he "has money" :francis:
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http://www.bloomberg.com/news/artic...iles-for-bankruptcy-protection-in-connecticut

...His boxing promotion company, SMS Promotions, has also filed for bankruptcy, listing assets and debt of $100,000 to $500,000 in May....
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Two bankruptcies back to back ain't what's hot in them business skreets breh:francis:
 
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Would anybody on this board file bankruptcy over a $1,000 lawsuit? Not unless you trying to prevent someone from garnishing your minimum wage check. If you're making $50K a year you just pay the cash and keep it moving. So just think about it when you're talking about this situation, same principle applies, Fif might legit have less in $5 milly in cash, which is why he had to make the move to protect himself, at least now he has the couple million that he has left free to reinvest in something to pay out whatever settlement he negotiates at the end. If I had to bet he will settle or come up with a payment plan because I don't think his money is long enough at this particular moment to keep paying lawyer's $1000s by the hour.
 
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Cloud Cloud said:
He's talking about buying things just outright cash money. So, if a house cost $1mil .... Fif just pay $1mil...


The problem with this is, if he has cash to pay for a house, he has cash to pay the bytch. So he'll get got for some type of fraud.


Fif in a pickle



Ps... If you saying you can't buy a $1mil house CASH MONEY if you got bad credit, elaborate...:ld:... I don't see how that's possible, but I'd love to hear it if that's what you sayin.
Click to expand...

It's up to the institution rather they want to take your million or not...cash rules but just because you have it doesn't mean they absolutely have to take it...

If person A can pay in straight up cash and person B has great credit and will sign a 30 year mortgage on the house...bank is probably going to person B due to all the interest they make over 30 years...

Depending on the type of mortgage they get you could be looking at another million in interest for the 30 year mortgage person...
 
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blackzeus said:
:clap: Somebody gets its. Floyd would have probably have one of those air blowers in front of her house, and just have the blower spray all the cash in the air while alerting the neighbors and sh*t :heh: Samsung got sued for 2 billy and just shrugged it off and sent it to Apple in truckloads of pennies. :mjlol: There's no way you file for bankruptcy such a small amount of your net worth ( he's worth at least $100M according to many reports) unless that's all you got left :francis:
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Doctor Watkins just pretty much said this in the video. Fif having financial trouble. "Liquidity" problems.


I'm sorry, but to me, if a lot of yo shyt aint liquid, you aint rich to me. This just my personal opinion.


Floyd show a receipt where he got $100mil in the BANK. Of course he still got houses, and cars, and businesses and all that shyt... But he still got $100mil in the BANK.


Fif, and other "rich people" like him, networth is an illusion.... shyt is like fairy dust if you can't pull wild money out the bank or stocks / bonds.


Broke millionaire problems:mjlol:


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