Get Cut Off Like Namond Brice Brehs ::Memphis Bleek Is No Longer A Millionaire, Files For Bankruptcy
- Thread starter KingsOfKings
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Can someone explain how this works. So from what i see he basically has a house he is underwater with, which applies to hundreds of thousands of people in this country. So instead of just working and paying his bills on time he can just file bankruptcy? Why doesnt he just get a job and pay the bills?
Something tells me Bleek isn't going to be showing up to work at an office near you for 55k a year..........unless you can wear fitted's there.
Something tells me Bleek isn't going to be showing up to work at an office near you for 55k a year..........unless you can wear fitted's there.
Im saying though, so regular nikka on the block gotta go get a bullshyt job to pay bills but Bleek cant? You telling me there is nothing this guy can do in a discreet office somewhere to make a regular salary?
How long have you been into hip hop? Bleek wasn't the dopest but he was rarely straight up WACK. SMH.
Also, Jay has generational wealth, and bleek been his Ace for 20 some years, I'd be shocked if he doesn't have something set up for Bleek.
I think everybody believes Bleek ain't broke, and if he is, that Jay would be there for him, but Bleek might not want the help
backbreaker65
All Star
The Main objective in a bankruptcy case is to show you're insolvent. If you're planning bankruptcy, stop paying your debts immediately the debt mounts and you're upside down. Your creditors will be mad as hell, but they will get some money(chapter 11/13) based on you giving the judge a payback plan. The Judge will decide based on your assets you present, will determine your personal net worth and your future earning potential. Again you will present your payment plan and the judge will agree or disagree and make some modifications.
But the 1st step in the process is "you don't have enough money to pay what they are asking" i.e. make it look like you don't have a dime.
I'm not disagreeing with you here, breh. Just the thought of Bleek sitting in a cubicle somewhere yelling out "YO IS THAT YO TPS REPORT?!?!" doo rag and fitted on has me
HDKG_
All Star
Bleek told DJ Envy this story is bogus. starts at 0:40
vampire xtc
The E-Legend
as ,amy have said
this doesnt add up really
missing the dusse checks etc...
but anyway
it irks me how these dudes "buy" a house and dont pay it off in full when they are poppin
like dude fukk a mortgage
pay that shyt off in full
makes no damn sense to have a mortgage but then be making it rain and buying jewelry and tattoos and cars and shyt
like really dummy?
also dude pulling 5K+ a month doing 60K a year(more actually)
as someone else said
live your income
if dude would have paid off the damn house YEARS AGO IN FULL
on top of that he could be straight
also not for nothing
his wife dont work?
fukk that bytch better chip in
this doesnt add up really
missing the dusse checks etc...
but anyway
it irks me how these dudes "buy" a house and dont pay it off in full when they are poppin
like dude fukk a mortgage
pay that shyt off in full
makes no damn sense to have a mortgage but then be making it rain and buying jewelry and tattoos and cars and shyt
like really dummy?
also dude pulling 5K+ a month doing 60K a year(more actually)
as someone else said
live your income
if dude would have paid off the damn house YEARS AGO IN FULL
on top of that he could be straight
also not for nothing
his wife dont work?
fukk that bytch better chip in
Anybody that really believes that Bleek is broke is a fool. He's doing this to not pay something.
And anybody that really thinks Hov would have Bleek out here broke is an even bigger fool
It's the Roc u b*stards!
And anybody that really thinks Hov would have Bleek out here broke is an even bigger fool
It's the Roc u b*stards!
Deoji
All Star
I can think of a few reasons NOT to pay for a house in full. Even if you have the money. It just depends on the situation
Most people file 7 and 13. Those are the most common. Chapter 11 is for corporations and individual with assets over 2 mil.
Even in a Chapter 7, them selling off everything is grossly overstated. They'll sell off things that are excessive, like if you have 2-3 cars w/o leins, or multiple homes that have reasonable equity. You can hide most of your belongings in the exceptions you're allowed. And a lot of things usually go undeclared. In Chapter 13 the cash exemption is $100, Im sure that's why he put that. Because in reality no one ever checks. Even if they did, and found more cash later they'd have to prove he had that on the filing date.
Bankruptcy laws are pretty loose. Most people go thru it without any issues or challenges. 50's was challenged because his ego is out of control. If he acted broke he would have gotten away with it.
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sounds like all bleek needs to do is downgrade his lifestyle a little
thats what im saying..me and my contractors that report to me make more than he does...shyt had me like
..that music money..so short term 