theJasmineBRAND.com exclusively reports, Trick Daddy has filed docs in his Chapter 13 bankruptcy revealing his financial situation is improving drastically. The rapper makes close to $15k a month with only $2k in expenses, which may have something to do with him being cast on the new Love & Hip Hop: Miami.
Here’s the latest: On July 22nd, Trick Daddy filed docs in his case explaining how his financial situation is on the rise and he’s making over $14k a month. The rapper says his assets total $430,420 with $413k+ from the value of his home. However, his liabilities (aka money owed to creditors) totals $644,613. He owes a total of $290k unpaid taxes alone and another $57k in domestic support obligations.
His monthly income is listed as $14,500 and he only spends $2,771.75 leaving him with a surplus of $11,728.25 after he pays his bills. The biggest expense per month is $1,400+ to the IRS for income taxes. However, the docs reveal he is not currently paying a mortgage or rent payment.
Trick Daddy’s monthly income comes from $6k from his business and $8,500 from other income. It’s unclear if the $8k comes from the rapper being cast on the new Love & Hip Hop: Miami. According to reports, the reality show was began filming in May of this year.
Here’s the backstory:
The rapper originally filed for bankruptcy on September 18th saying he had $430,420 in assets but a total of $644,613 in liabilities. Trick Daddy listed his assets as his Miramar, FL home, ZERO dollars in his bank accounts, $2,500 in household goods, $150 in wearing apparel, $400 in jewelry and 10k stock in his music publishing company Trick-N-Rick.
However, the bankruptcy was dismissed soon after the rapper filed , due to the judge denying his confirmation plan — meaning Trick Daddy was still on the hook for his debt without the protection of bankruptcy.
This was a problem for Trick Daddy because he was facing his Florida home being foreclosed on by Deutsche Bank National Trust Company. Days after being sued by the bank the rapper filed for bankruptcy, which put a pause on the foreclosure lawsuit until the bankruptcy was closed.