According to the rapper, he had to file for bankruptcy not because he lacks the money for bills (note his $300,000 tax bill), but so that he can be released from the G-Unit contract.
The rapper’s representatives have confirmed his bankruptcy status to AllHipHop.com, which will allow the rapper to keep all of his possessions, as he pays back an estimated $12,500 -per-month, over the next five years. However, Buck insists the decision was made in order to terminate his current recording and publishing contracts with G-Unit Records, not because he’s run out of money.
“I was forced to file bankruptcy, not because I am broke. But because I have to get my finances back in order and deal with the contract situations I was in,” Buck explained in a statement. “Now I have a clean slate and full control over my own life and career.”
So why do we not believe him?