Trick Daddy owes more money than he’s bringing in, and therefore declared bankruptcy, reports TMZ. The Miami rapper filed for Chapter 11 claiming debts of more than $640,000, and only $430,000 in total assets.
Although “Trick Daddy Dollas,” as he calls himself on Twitter, makes close to $15,000 a month from royalties and club appearances, and spends only $500 a month on clothes and jewelry, he’s got some major bills staring him down. Among his debts are $57,119 in back child support for two different mothers of his children. Then there's the $200,000 that he owes to the IRS, and a $280,000 mortgage.
Money troubles could be directly related to Trick’s health issues. The 41-year-old former Slip-N-Slide Records front man has been battling lupus for several years, and is currently working to release his first studio album since 2009.
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