50 cent

50 Cent Reaches Deal With Creditors Over Debt


(AllHipHop News) Curtis “50 Cent” Jackson was called back to bankruptcy court this week after the Queens rapper posted pictures of money to his Instagram page. Some of 50’s creditors were concerned the Hip Hop mogul was not reporting all of his income, but those issues appear to be settled.

[ALSO READ: 50 Cent Admits To Faking Money Piles In Social Media Photo]

According to the Hartford Currant, 50 Cent’s lawyers reached deals with the creditors that hold around 95% of his debts. If the agreement is approved by U.S. Bankruptcy Judge Ann Nevins, all of the entertainer’s secured creditors will be paid in full. Unsecured creditors will be paid between 74% and 92% of what they are owed over five years. The faster 50 makes his payments, the lower total amount he will have to pay.

A Justice Department trustee is asking the judge to appoint an examiner to oversee 50’s finances. The social media postings were troubling for U.S. Trustee lawyer Holley L. Claiborn. However, 50’s legal team has insisted the cash used in the photos was fake and he is reporting all income and expenses.

Patrick Neligan, 50’s bankruptcy lawyer, told the judge, “[Many of Jackson’s fans] come from poverty. They want their favorite rapper to be rich. Money is important.”

50 Cent claims to have $19 million in assets and $36 million in liabilities. The Get Rich Or Die Tryin’ performer posted a message on IG, “For some reason people love me. I went to court today and all I felt was love. They asked me about money I said I ain’t got none,but if you want some M&M’s, here ya go.”

[ALSO READ: 50 Cent Reportedly Makes $29,000 A Month From Music Royalties]

  • Papi Peligro

    Settled that mess quick. LOL. He still came out paying less.

    • Charismatic eNegro Jef Vinson

      The 50 haters will still call it an L.

      • The City

        That’s because they don’t no the first thing about business.

      • DC King Of Hearts

        Bruh I got loans and shit from college. I wish I could get all that settled that quick.

      • TheAfroRican

        Word.

      • MrRickyrightfoot .

        get on an Income Based repayment plan (IBR). It doesn’t hurt your credit, you can pay it off easier, and if you haven’t paid the loans completely off after 25 years (most people haven’t or won’t) then the rest is forgiven.

      • DC King Of Hearts

        Already on it, but thanks for lookin out bruh

      • TheAfroRican

        They think they are financial analysts by pocket watching.

      • RapItUp

        I am a financial analyst… And he still has to pay nearly 75% of his debt. I believe the total debt figure was between 26-36 mil. owed to creditors? If he has ’19 mil’ in assets (I’m sure his Starz check covers that easily) he is still taking a major blow to the pocket. Jay could take a loss anyday with tidal reportedly on the brink of failure (let the Apple analysts tell you) but he has an abundance of wealth to patch up a boo-boo.. Without posting pics on IG of cash stacks looking rather remedial.. I say all that to say, 50 is the only person who got himself here. And not solely based off bad business deals (pimpin curly, anyone?)

      • that dude

        You shut them right on up.

      • TheAfroRican

        There’s no disputing about that. It’s not a good look either way.

      • RapItUp

        I guess his online antics do give us something to read about.. It’s pretty courageous (/foolish) how he keeps playing with the courts. I don’t want him to get that financial examiner on his ass, but he’s seriously asking for it!

      • Charismatic eNegro Jef Vinson

        But he doesn’t have to pay that up front. He would pay that over time.

      • RapItUp

        With the amount increasing over time. Of course, a lucrative deal or two could easily eat this debt up. I believe he’s good for the cash, either way. Just funny he has to shell up several mil to Rick Ross baby moms! Lol

      • Casor_Greener

        And neither do you d!ck riders

      • TheAfroRican

        Exactly. They are on the outside looking in and trying to be sideline commentators.

      • Mec-One

        Bruh, how is it not a L? Dude still has to part with a bunch of M’s over stuff that could have been avoided ….
        Now, if his lawyers could have got him out without paying a dime …..that would have been a win

      • Preach!

  • The City

    Fresh and clean after a nickel…money well spent.

  • I guess his lawyers spoke to him about the deep sh*t he was in (you see that Justice Department Trustee?). Hahahahaha…. Um, yeah. Hold this “L” Curtis. Looks like Ricky’s baby moms is getting cake after all. Hahahahahaha. N*gga you ruined your credit and your rep for 78% – 92% of the bill? That’s like a 22% discount at Macy’s. Hahahahaha… Hold 78% – 92% of these L’s. 😂😂😂

    • TheAfroRican

      Better than paying ALL of the debt.

      • MrRickyrightfoot .

        So his “businessman” image is ruined, his credit is ruined, he lost the money on the attornies, bankruptcy process, court costs etc and he may end up paying as much as 92% of the debt. It doesn’t seem worth it to me, especially since he did not benefit at all from the reasons he lost the money.

    • El_Gringo

      he got 1000% more money than you Wack Gay Surpeme. You are a walking ‘L’ fam

      • Hahaha… You don’t know sh*t about me. But everybody knows your man 50 Cent ruined his credit and image for a 22% discount (if he’s lucky). That’s one helluva L. Are you going to be 78% his fan now? 😂😂😂😂

      • Dreday410

        “ruined his credit”
        Are you serious……If you have a 570 and win the lottery for 16 Million you really think that still matter….boy you dumb as hell to think a Millionaire credit score matter when he can pay cash for ANYTHING

    • justmathoughts

      i hear you but 22% of what he owes is still millions

      • True. But to ruin your credit over 22%???? Come on…. Not only that, the sh*t he got sued for was self-inflicted. He could’ve avoided all of this. And then after he did it he compounded the problem and leveled his credit for 22%? And that’s not even guaranteed! That sh*t could go as high as 92% of the debt he has to pay back! That means he did all of this sh*t for a potential 8% discount???? These are big ass L’s if I ever saw one. Whoever said he was a dope ass businessman needs their f*cking head examined.

      • justmathoughts

        right!! im not disputing any of that… when this first started i thought 50 was just playing hard ball.. i mean, im sure hes got something stashed but to go through all of this publicly makes me think he actually might be going “broke”

      • I don’t think he’s even close to broke. But when the Justice Department gets involved, your sh*t is about to be roasted. That’s why he shot for that quick settlement. I told cats. You don’t f*ck with judges. I’ll put any amount of money that she called in the Feds.

      • Casor_Greener

        Yeah that’s not a good look

    • Eli Pinilla

      Credit isn’t as important when you have that much money. There isn’t a bank or car dealer that wouldn’t finance him.

      • Bruh…. I ain’t dissing you or nothing but you really need to educate yourself about finance. 50 ain’t living the life you and I live. So expecting him to just walk into a dealership and ask for money is really dumb. What it hurts, without a doubt, is his ability to get other business ventures off the ground. The key in business is to NEVER USE YOUR OWN MONEY. That’s what keeps the rich, wealthy and the poor people wishing for wealth. This is a gigantic sh*t stain on 50’s rep and will absolutely harm him when it comes to getting cash for future endeavors. Credit means everything. Even for the rich.

      • Eli Pinilla

        I’ve worked in debt management and consolidation before what I do now. Your looking at credit as far as it relates to how it affects us. It’s not the same once you’re in the millions. Regardless of bankrupsy. Once your in the mills, and especially celebrity, then it’s more about asserts then credit. They will loan him based off income and what he has in asset liability.

      • Bruh…. I work for an investment firm and possess brokerage licenses. You’re tripping. Credit matters. Even for the wealthy.

      • Eli Pinilla

        I’m not saying that credit doesn’t matter for them. I’m just sayin it’s not as bad is you believe it to be. Bently will finance him tomorrow. He can purchase a new home in just about anywhere in the country. Shit, regular income folks can get finance with bankrupsy on their report with proof of income and a strong down payment.

      • Bruh…. I hear you. But you’re reenforcing my original argument. 50 will now pay ridiculous interest on whatever he gets. Nobody is saying this stops him from living. But he is going to get murdered in interest payments. And if you think 23% on a car loan is bad, try buying a high ticket item like a house with a bankruptcy and see the difference. Ain’t no painting this good. 50 is holding this L.

      • Eli Pinilla

        An L for sure. And he mos def will pay higher interest. But he will get whatever loan he applies for. You made it out to seem like he Couldn’t take out loans or produce investors for a new business. He can avoid the higher interest rates by putting more down up front.

      • Anthony Mason

        Credit matters bruh. Still got love for you though and your s*** is usually right on point…

      • Eli Pinilla

        I never said it didn’t matter in general. But it doesn’t matter as much as they tried to make it out to seem. Like he Couldn’t get a loan or a car if he wanted to. And I believe u when u say you got an Amex right out of school.. The majority of major banks have a starter card or something equivalent. Sure it wasn’t more than 1500. Everybodys gotta start somewhere…..I fux with u too homie.

      • Anthony Mason

        I got a grown up amex fresh out. I had good income and limited debt. Mine is the same one the b**** from snl is advertising about. Clear card with the blue…

        F*** amex. It is a status symbol and they are crooks…

      • Anthony Mason

        It was 3k but yeah…. Yeah Amex jumps on the kids and never lets go. I paid my s*** off so f*** em. Rainy day card that gives you bulls*** incentives.

        I look at it in my money clip as a reminder not to use it again and it looks cool…

      • Dreday410

        “him when it comes to getting cash for future endeavors”
        NOT really because he just signed 3 more TV Deals and remember POWER is on a Season by Season contract (There aint a TV Network who in they right mind aint going to pick it up)

      • Anthony Mason

        So now you counting future money? Lol!

      • Anthony Mason

        Tell em. I’m trying to explain to these niggas but they just want to listen to folklore from people who have not a f***ing clue….

      • MrRickyrightfoot .

        Entire nations care about their credit score; do you remember how politicians were acting when the US was almost downgraded from AAA to AA? Credit stops investment, and since 50 isn’t making any money off new music and has expenses as high as he does, he needs others to invest in his soon-to-fail business ventures.

      • Eli Pinilla

        That was for perception. Had nothing to do with the US being able to take out a loan. And it did happen; nothing changed.

      • MrRickyrightfoot .

        Other nations have had their score dropped and it keeps investors away from providing money (see: Argentina) or it cripples them on loans that they are able to get (see: Greece). Credit is serious for everyone, 50 isn’t above that.

      • Eli Pinilla

        Argentina and Greece are the “regular folk” of countries. America is a rich celebrity. There’s a big difference. Credit always matters. But not as much as you make it out to seem. Assets and income supliment bad credit. They just end up paying higher interest rates.

      • MrRickyrightfoot .

        With only 195 countries on the planet everyone is a “celebrity”. Argentina is the 2nd wealthiest and largest in S. America. Greece is a member of the EU and considered developed.

      • Eli Pinilla

        Argentina being the second richest country in SA is like being the second richest dude in the hood. I’m Colombian. It’s all third world with pockets of wealth. Being a developed country Doesn’t mean anything. There are only a few countries that can do what America does. And Greece and Argentina def aren’t 2 of them.

      • Anthony Mason

        Preach….

      • Anthony Mason

        You need credit to finance. Down-payment can drop the interest rate…

        But according to 50…he does not own those expensive cars. I have 2 paid off german foreign cars were at 3% interest and I drive the audi to work.

        Why niggas need all these lambos and Gas guzzling money pits? 50 could have bought a bunch of normal luxury whips but he has to feel like a god to you niggas…

      • Eli Pinilla

        You can buy a house with 2 years of income statements and 20-30% down right now in Florida. In most parts not named South Beach. Abs that’s regular folk. With shitty credit. Having millions in the Bank changes how much credit means to getting a loan.

      • Anthony Mason

        You need credit no matter what. If you are making his income and want to finance or lease it just lowers the risk and lower interest rate or monthly fee..

        Housing is not the same as cars. City I live you can get a 3 story crib with 10-15 k down and a $700 month payment on a 15 year…with good credit.

        I bought my first one when I first got money and the interest was higher but I have no student loan debt and good credit. Refi and pay off…

        I have a smart fam and worked my a** off in my 20s.

      • Eli Pinilla

        Bad credit is better than no credit. I’m not saying he wont pay more in interest. Just saying he won’t get denied for any loan he asks for either.

      • Anthony Mason

        That because he is with “them”. Catch my drift now? OK then…

      • Anthony Mason

        I got an amex fresh out of college with no credit….bad or good….

      • Well damn. That’s cheap / low rates.

        Wish it was the same here

      • Anthony Mason

        Cost of living is a big decision to make….

      • Product of Da Reagan Era

        Alot of these dude lease them cars in they company name and use it as a tax write off.

      • Anthony Mason

        Yeah but bruh. You gotta feel me…

      • Anthony Mason

        Trust me bruh I know…

  • Leonard Tarver

    I bet Money he Paid the Judge 😂😂😭😂💦😭

    • Mec-One

      What sense does that make …..he still has to pay …..

      • Leonard Tarver

        He doesn’t have to pay the full amount. And was ordered before to pay a couple more millions than that . Then he’s taunting and flaunting on social media the whole time about it and the judge knows that still tolerating him acting like that Bruh

      • Mec-One

        Dude, do your googles to get some understanding of the bankruptcy process …….”paying the judge” ……. smh

      • Leonard Tarver

        I know what bankruptcy is. I think you’re hooked on phonics when it comes to sarcasm. Don’t comment if your comprehension skills are fried

  • ursocalledgod

    this nigga is an idiot. smh Ross and his baby moms sitting back giggling at this clown. lmao

    • Ipullcards

      Lmao Ross got a trial starting for kidnapping and other felonies. I don’t think he’s laughing at anything. Cause in Georgia they’ll burn a negro. Ask Katt

      • 😂😂😂 That’s some real sh*t right there. Georgia and Texas stay in a n*gga’s ass.

  • Smashit

    Funny how people who know everything don’t really know shit – rich people don’t ruin they credit because creditors know they still have money to secure the loses – even if you settle your credit debt for 50% of what you owe the creditor still wins because the interest you paid over the years plus the new 50% is all profit – people get repossession, foreclosures & all that but if you got a good down payment you’ll have another car or house tomorrow

    So for the financial wizards who think your credit gets “ruined” by settling what you owe you need to go back to school – a person with a bad history of payments will get new credit before someone with no history of payments all you have to do is settle the “judgements” against you first & you can believe that

    • Ipullcards

      Facts. My sister lives off her credit score alone! It’s very interesting. The turn around from someone in 50’s circumstance. I see why he’s cocky. Cash is king!

    • You know, I feel you trying to disparage on folks that’s laughing at your boy right now and I get that. I ain’t dissing you or nothing. But you really need a class on money management. CREDIT MATTERS EVEN FOR THE WEALTHY.

      You’re acting like 50 Cent is the same as the average Joe and will just walk into a dealership to get a car. First of all, his lifestyle isn’t like the average dude. He’s not shopping like that.

      The sh*t that keeps rich people rich is the ability to utilize other people’s money while keeping the majority of their own. This may not hurt 50 while shopping for some low budget sh*t like a car (which is a horrible investment by the way), but it will absolutely kill dude when he has a new business venture in which he can’t get investors to give up cash. Basically, if he has a dope idea for a business he will be handicapped. Because nobody is going to give money to him to just turn around and have to fight for it in bankruptcy court. He’s already proven he would do it.

      You know that dude with f*cked up credit at your job? Ever wonder how he is able to get the same car as your boss? Look at his statement. I guarantee you he’s getting killed on the interest rate. Nobody is saying 50 can’t live. But you can damn sure believe he’s going to pay out his ass in interest after a bankruptcy.

      50 Cent is not living in the normal tax bracket so to think of him spending in that same tax bracket is dumb as f-ck. Mo money mo problems. If you think this doesn’t hurt 50 you’re out of your f*cking mind. Just ask Donald Trump how long it took him to get his sh*t back up to reputable. And he was White and a billionaire! 😂😂😂

      • Smashit

        You got too much time on your hands bruh – I speak from experience not because I’m a fan – my only concern is my pocket but I don’t wish being broke on no one – we all should have an opportunity to earn & spend our money without the government always finding a way to take what WE earn but this is life – maybe you should spend less time here & more time living YOUR life

  • StephenDedalus

    all of it self inflicted. what a polished turd of man this is.

  • Riko7467

    Man alot of you people are stupid gullible fools.

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  • emac

    we don’t believe u, u need more ppl….

    • WeakSauce

      This quote has been officially over used on this site

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  • ZUBU

    I think he made the best out of a bad situation… True he should have never put himself in the position to be sued, especially with Ross’ baby mom. That backfired on 50. The headphone deal he was trying to get paper, and got caught up.
    ———————
    I just said yesterday that 50 would hold out and settle for less, it’s how the game is played on the big money end..

    • I can’t see how this is best. His credit is ruined (higher interest rates), undue stress on his creditors, attorney fees, the state was in his ass and now the Feds are in his sh*t. And he STILL may have to pay 92% of the debt. Seems the best move would’ve been to just pay 100%. When you factor in the attorney fees and the hits to his credit and image, now the Feds are watching? It wasn’t worth 8%. I’m just saying…

      • WeakSauce

        You sound obsessed over Fifs L lol damn son!

      • Hahahahaha…. I’m a fan of Karma aka hater-aid, bruh. 😂😂😂😂

      • WeakSauce

        I see you

      • MrTroyMercy

        I know right? This dude acts like 50 smashed his moms or something.

      • ZUBU

        Brother (James Evans), I often agree with you and you are a good brother… Yet on this 50 just playing the game that rich white folks primarily have been playing for many decades… I’m sure 50 had good legal advisors, and obviously 50 does not want to pay the full amount… I think he will pay the lower end of that range, plus he has been earning interest on the money he has been holding on to… Interest earned on millions will pay the attorney fees. As far as his credit 50 is not concerned about credit, he has several houses and he has money stashed prolly swiss accounts, off shore accounts, etc… Once he got paper he started learning from the true leading legal teams… It’s like Suge he still got mad paper, Suge stole all the Death Row money and stashed it. Suge has not done nothing in the music industry in many years but he stays pushing new whips, traveling, at all the events, etc. Because he stashed the paper… Now he fukked up going to that one spot and they tried to pop him, and he did what he had to do to get out of there alive…

      • You know I rolls wit you Zubu. To be honest, I ain’t even hating the fact that 50 tried to get over. I don’t even hate 50. I hate that arrogance. Let him do his thing without that.

        Everybody knows Suge is caked up. But that money will be termite food now. Cause he ain’t neeeeeever getting out.

        At the bottom of my hate (we’ll call it that since 99.9% of 50’s fans call it that) is the fact that I hate that dumbness in dudes. Why can’t we get money without f*cking over as many of our brothers and sisters that we can in the process? That’s my beef with 50. Truthfully.

      • ZUBU

        True bro, 50 should be a bit low key with all of this. His arrogance got him called back in front of the judge. I’m a Rakim Allah, Nas type of brother, I don’t seek the spotlight. 50 wants to be on front street, and he is playing with fire messing with the judge… He tried to humiliate Ross via his baby mom and that shiittt is costing him millions. the Headphone deal he was trying to make money and it cost him, yet I better understand that not saying 50 was right. In my business dealings I’m a lot more ethical than most of these dudes, so I agree with you I don’t fukk over my people or any people. I give people a chance to make money and I try to make money….

      • Didnt really like the way your were kinda celebrating misfortune in your other posts on this but that last paragraph is real bro.

      • Product of Da Reagan Era

        You can believe that but Suge had all that cause he was still in the streets.

  • Lyrics

    Learn to walk a tightrope
    Ever seen a rich nigga go broke?
    They putting liens on a nigga’s things
    Publicize your demise, and by all means
    Your family fortune is forever what you stood on
    Sold dreams, fantasies that put the hood on
    You reap what you sow, and they speaking repossessions
    To the culture itself, these are powerful lessons

    Foreclosure – Ross

  • In Black America Radio

    However, 50’s legal team has insisted the cash used in the photos was fake and he is reporting all income and expenses.

    Patrick Neligan, 50’s bankruptcy lawyer, told the judge, “[Many of Jackson’s fans] come from poverty. They want their favorite rapper to be rich. Money is important.”

    nagas better stop effin with them jew-ish lawyers and get them a Black Lawyer
    At least you know the black law student HAD to study………the jew-ish one………….not so much

    In Black America Radio
    Fri & Sat
    9pm EST Blogtalkradio

    • What do you mean ?

      • In Black America Radio

        i mean black people put blind faith in jew-ish lawyers and accountants but wouldnt give a black lawyer or accountant a chance. we literally think having a jew-ish lawyer means i have a solid team. not based off anything outside of the fact the person is jew-ish. but like JokeznSmoke said, its a sista who is handling Cosby case……….if the glove dont fit…………..that came from black lawyer . now, lets review all the athletes and entertainers who accountants screw them over………….and how many are black? so thats what i mean by that……….and im not saying get a black lawyer or whatever just cause they black………im saying dont get a jew-ish lawyer just cause his last name is goldberg or weinstein

    • dan hoff

      You’re a bigot and an a**hole.

      • In Black America Radio

        awwww………im a bigot and a a-hole cause i want my people to stop being jerked by jew-ish people. lmao okay goldberg

      • dan hoff

        No. You’re a bigot and an a**hole unrelated to anything else you want. If you want “your people to stop being jerked around”, you could start by learning English.
        *I’m
        *an a**hole
        *I want
        *Jewish
        *Goldberg.

      • In Black America Radio

        AWWW……. bernstein have no argument so he brings up “english”
        its 2016, black people peep the jew-ish game pat’na

    • Celz

      I’ll definitely make sure not to turn in.

      • In Black America Radio

        awww man, i was really hoping you would. rosenberg

    • ZUBU

      Not to stereotype, but you do know how well represented the Jewish community is in the legal system huh?
      ———————
      That mess you talking makes no sense…

      • JokeznSmoke

        “You do know How well represented the Jewish Community is in the legal System???” There inlays the problem, Black folks have believed this MYTH that somehow because JEWS may be “well represented” in the legal system that they(Black folk) will be “Well represented”, defies logic!!! Those same jew lawyers would be the same ones demolishing 50 and hip hop in general if these dudes said Whop, Hymie or Hooknose instead of N!gga, but 50 and the rest are comfortable destroying their own before they dare bite the hand that feeds them!!! So in fact he should seek out a Black attorney seems to be working for Bill Cosby, at the end of the day we spend our resources with groups who send their kids to ivy league schools and live in posh suburbs or high-rises all the while telling US they got our back while NEVER giving anything Back!!!!

      • In Black America Radio

        what exactly didnt make sense? and how many entertainers and athletes got jerked by black representation vs jewish representation? or are you the type who like the jew-ish people eating and controlling the money and affairs of black people?
        really think about that…………

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  • Larry

    This is some funny sh!t. Thats right 50 keep pushing and pay the most important first. F#$k that jobless a** thot. Trying to take his hard earned money. Tell that H*e to go get a job!

  • The Legendary Troll

    just dont pay ross bm

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