Trying times for rapper 50 Cent appears to be getting to a close, as he has been given a pass on his bankruptcy filing.
Fif who celebrated his 41st birthday yesterday July 6, spent a better part of the day in a Connecticut bankruptcy court for the hearing of his financial crisis.
He owes a total of $28 million in debt – to Sleek Audio, SunTrust Bank and Lastonia Leviston, who successfully sued 50 for posting a sex tape that she had made with her boyfriend to his website as part of his feud with Rick Ross – and is now set to pay $23.4 million of the total over the course of five years, Billboard gathers.
99.5 percent of parties have approved the rapper and business mogul’s new plan of initial cash payment of $7.4 million and an annual payment of $2 million over the next five years.
50 Cent’s lawyer indicated the payment ‘could be funded largely, if not entirely, from the sale of [his] Connecticut property. Otherwise, the Additional Cash Contribution will be funded by the Debtor’s business activities and related business entities.’
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