Date 07/07/2016 - News People
On Wednesday in the state of Connecticut, a federal bankruptcy court judge approved a plan for 50 Cent to reorganize his finances and pay back creditors. The rapper and actor filed for bankruptcy in 2015, citing debts of $36 million and assets of less than $20 million. Under the plan approved by the judge, creditors holding unsecured claims will receive 74 to 92 percent of the money they are owed, depending on how quickly 50 Cent can make the necessary transitions. According to The Hartford Courant, he will begin the approved bankruptcy plan with a $7.4 million payment.
