Young Buck Files for Bankruptcy

Young Buck Files for Bankruptcy

Posted: 09/01/2010 11:50 AM EDT

Roughly a month after his house was raided by IRS agents, former G-Unit member Young Buck has filed for bankruptcy.

Stressing that he's not filing "because I'm broke," Buck told TMZ, "I have to get my finances back in order and deal with the contract situations I was in."

Filing bankruptcy under Chapter 13 will allow Buck to pay creditors back under a court-approved five-year plan. Buck will also be able to reclaim the items the IRS seized during the raid.

"Now I have a clean slate and full control over my own life and career," Buck shared.

In related news, Buck will be releasing a new street album titled, "The Rehab" on September 7.

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