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

[Big Boss]

50 still trending on twitter

 

[SpacelySprockets]

what was the question he was asked?

I dont remember, I just remember the comment.. it was something about CB4 its on youtube

 

[Pop123]

I'm going to ask the simplest, stupidest and most retorical question;

Why does he not just pay the $5 million?

He put the girl on blast and now has to pay the price.

No business man worth his salt would ever just outright pay someone 5 million dollars bro, you can't be serious. They will fight it, then fight it, then fight it somewhere, then when all possible outs are exhausted, then they will finance it somehow

 

[Big Woadie]

ahahhahah so glad to see this day

you fukkin curly woodface g unit tank top wearin degenerates

 

[Will Ross]

It's a reason why he did not show up to court.
She sill never see 5 million maybe a 500 k at best

 

[The_King_of_Everything]

None of these rappers are as rich as people think. Diddy, jigga and co are nowhere near billionaire status. Their work has grossed hundreds of millions but that isn't their personal net worth. Media just loves hyping up those numbers to sell magazines.

New slaves....bu....bu....but Forbes said lol

 

[Sensei]

Might be a negotiation tactic to reach a settlement on the judgment. I could be wrong about this, but I think her judgment would be wiped out in a bankruptcy.

The court is gonna look at all his assets now and decide whether to grant or deny the petition.

Could be shrewd post judgment maneuvering on his part, or maybe not. Either way, it's still a massive L because he never should have been in this position in the first place.

This is false,bankruptcy claims do not excuse you from having to pay up if one has lost in a lawsuit. It only gives time for someone to reorganize their debts and balance their books.The only thing bankruptcy does is decide which assets,accounts, or investments can be deemed usable for compensation.

She's represented by a FL personal injury lawyer. Contingency fee agreements, by definition, are contingent, lawyers enter into these agreements knowing full well they may never be compensated for their work. I doubt that her FL lawyer knows the ins and outs of NY (or is it CT?) bankruptcy law.
I'm sure he is consulting with the appropriate bankruptcy/collection attorney. I'm a personal injury attorney myself, I don't know the ins and outs of bankruptcy law. I know that if a Defendant files for bankruptcy, usually a stay would be entered in the personal injury case. I know that if a Defendant files for bankruptcy, oftentimes the Plaintiff in the personal injury case is limited to any associated insurance policy. In 50's case, there would be no insurance.

There are exceptions, a debt from a personal injury judgment stemming from drunk driving cannot be discharged.

Who knows how all of this is going to play out. It seems to be a shrewd maneuver on 50s part - but I just don't know enough about how all of this works.

LOL I know for a fact you are not a lawyer since you don't even know what contingency fee agreement means.


Its true just because you file for bankruptcy doesn't mean you are broke.People are saying Donald Trump did this but the was for Donald Trumps corporations and his holding companies.50 has filed for Chapter 11 bankruptcy ,on a business basis and personal basis,which means his lines of credit are going to be limited in the future. If 50 was worth $155 million he would be able to liquidate $5 million on hand, but lets just give him the benefit of the doubt.

The Bankruptcy claim is not going to be the best bet for him, cause now they audit Fifty's which means he is going pay more money to Uncle Sam,and he is chances of cloaking his revenue and assetts from Uncle Sam are not going to be so smooth in the future. Plus Fifty's credit would be ruined ,and that means his buisnesses will suffer from it as well. 50's business have not been faring well either, I don't know why people think just because Fifty had endorsement deals means Fifty is a good businessman. Fifty's SMS Audio and his boxing managment company are not taking off,like his Vitamin Water endorsement and Reebok deals did years ago.And the only reason they did was because he was a good catch and an icon, Fifty's star status has diminished today and this is why his new ventures are not big blockbusters since he has lost rap fans..His Cheetah films are straight to video films that are flop bound,I'd rather look at softcore videos made in the 90s.

 

[Still FloW]

you think Forbes list numbers are accurate?

no... but i know he's not broke but keep trolling on tho...

 

[Tunez]

So no Banks album coming?

 

[Big Woadie]

So no Banks album coming?

It took a special kind of fukkin fagget to be a Banks fan ten years ago.

And in 2015....lmfao

 

[Turbulent]

if he invests all of his money in his businesses and then files for bankruptcy, can't the people he owes money to grab the equity in whatever he owns in order to compensate themselves?

 

[Tunez]

It took a special kind of fukkin fagget to be a Banks fan ten years ago.

And in 2015....lmfao

Banks already destroyed this obese fukk

 

[jilla82]

Boyce is a millionaire on paper

thats not hard breh

 

[blackzeus]

It never ceases to amaze me how the crabass nikkas on this website love to tear down successful black men.

Stating the facts ain't tearin' him down. I still say f*ck that bish, she shouldn't have made the tape, Fif only exposed what she put out there She should have sued her friend who gave it to Fif for them millions, not Fif.

or he just doesnt want to pay the girl

there are companies whose only business is to hide money for people.
why is this idea so foreign to some of you.

shyt is half way normal for people w/ a little bit o change...especially after a divorce.

and ive already said...only dummies keep cash on them.
People w/ some sense save their money and then throw it all into an investment.
How much walking around money do you think anyone really needs?
At most you probably only need a few hundred thousand on deck...otherwise..you stash that shyt somewhere.

This disconnect is probably why people dont think they can ever be rich.

You buy an apartment building w/ something like 1% - 20% down...you use the cash flow to make payments (lets say the building is worth $300K)....then you buy another building w/ the same type of terms...
...before you know it youre a millionaire.
It doesnt matter you dont have $1million on hand...you have the assets to show and prove so you can invest even more money.

Yes, but swiss bank hiding undeclared funds /= filing bankruptcy for 5% of your net worth

 

[blackzeus]

He has filed bankruptcy on SMS only and now this personal one, as the release statment from his lawyers stated all his other business will function as normal.

What other businesses that he owns a majority stake in breh? You don't think he filed bankruptcy because those stakes are valued close to or less than 5 million?