Young Buck Out of Bankruptcy

Court clears rapper from debt he owes 50 Cent and other debtors. 

Posted: 09/19/2013 10:59 AM EDT
Young Buck

50 Cent shouldn't expect to see money from Young Buck anytime soon if at all. Buck's financial slate has been wiped clean and as the Tennessee rapper makes his way out of bankruptcy his creditors get nothing, Fif included.

According to documents obtained by TMZ, 50 Cent won't get the $117,000 balance left on a $300,000 loan to Buck. Additionally, G-Unit Records won't see a dime of the $10 million the label sought from him.

Buck has paid back some of his debt, however. A final report from the legal trustee behind his bankruptcy liquidation tallied $391,333.59 to pay off some of the outstanding accounts. His $42,699 IRS bill was paid in full and the New York State Tax Department received more than 85 percent of the $26,914.73 and $868.31 claims against him.

Buck filed for bankruptcy protection three years ago following an IRS raid on his assets. Many of said personal belonging were sold off to pay Uncle Sam.

The financial win is the second victory the incarcerated rhymer may be looking to celebrate. His 18-month sentence, stemming from a weapons possession charge, could be coming to an end earlier than expected. Rumor has it that Buck will be released Oct. 1 instead of Nov. 24.      

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 (Photo: Ethan Miller/Getty Images)

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