However, his liabilities include 280k on his first mortgage, $1,200 in home maintenance, $34,837 in back child support to one mother, another $22,282 in additional late child support, $290K to the IRS in back taxes, $1,308 to DirecTV, over $3K in credit card debt, $500+ to a collection agency for an AT&T bill and various other unpaid debt. The docs note he owes $57,119 in domestic support obligations and 290k in back taxes.
The bankruptcy was a tad confusing, given the fact that Trick Daddy had assets that were close to the amount he owed in liabilities. However, it appears that the rapper may have filed for Chapter 13 bankruptcy to avoid being evicted.
According to court records in Florida, the rapper was slapped with a foreclosure lawsuit by Deutsche Bank National Trust Company on September 10th — only 8 days before he filed for bankruptcy.
The bank explained that Trick Daddy took out a mortgage with them back in 2002. However, he is accused of not making payments on the loan since January 2014. The bank demanded he pay the total amount due of $169,621.56 and he be ordered to vacate the property.
However, since Trick Daddy filed his petition for Chapter 13 — all legal actions against him are put on hold until the outcome of the bankruptcy, which can take months to years to wrap up allowing him to have a roof over his head in the meantime. The bankruptcy essentially is allowing the rapper to stay put in his home until the court determines which creditors will be paid out.