Jazze Pha Files For Bankruptcy

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jilla82

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winb83 said:
When your liabilities exceed your assets you're broke. Having a negative net worth is being broke. there are plenty of broke people who shuffle debt around and have liquid cash but still are broke. Hell he owes the government. Eventually he's gonna end up in jail if he isn't careful.
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partially true.

If he has a decent cash flow coming in...he's fine.
Athletes dont go broke because of spending...they go broke because lack of income.
Same for everyone else.

If this cuts his debts in half (for example)...that can be a world of difference.

And you only go to jail for IRS debts if you just ignore them completely...which it seems he's not.
 
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jilla82 said:
partially true.

If he has a decent cash flow coming in...he's fine.
Athletes dont go broke because of spending...they go broke because lack of income.
Same for everyone else.

If this cuts his debts in half (for example)...that can be a world of difference.

And you only go to jail for IRS debts if you just ignore them completely...which it seems he's not.
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he's broke which is why he's filing for personal bankruptcy protection. being broke can be temporary. it typically is unless the person ignores it over a long period of time.

being broke is about living outside your means and amassing large amounts debt, it has nothing to do with having a high income. people with high incomes can be broke because your income level is irrelevant to how you manage said income.

people who lack income are poor not broke.
 
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Rekkapryde said:
Ain't no bread in the music game like that anymore.

Esp if you not stacking the bread you got while you hot.
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the shelf live of the vast majority in the rap game is about 4-5 years. It's difficult to stay on the top any longer than that. Rap overall isn't a beloved genre of music. It's mostly about trends and one hit wonders. It's about getting hot and sticking the money you can while you can. Maybe you take that money and pull a Chamillionaire but what you don't do is start living like you're wealthy inside that 5 year shelf life.
 
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winb83 said:
the shelf live of the vast majority in the rap game is about 4-5 years. It's difficult to stay on the top any longer than that. Rap overall isn't a beloved genre of music. It's mostly about trends and one hit wonders. It's about getting hot and sticking the money you can while you can. Maybe you take that money and pull a Chamillionaire but what you don't do is start living like you're wealthy inside that 5 year shelf life.
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Too many nikkaz think they gonna have longetivity when that shyt is definitely an exception more than the rule.
 
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mobbinfms said:
He filed for bankruptcy? :ohhh:
He must be a financial guru with millions stashed away in businesses that bankruptcy can't touch. :wow:
Only when you reach the height of wealth and power are you able to file for bankruptcy :wow:
I'm proud of Jazze :wow:

- the coli
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he got the feds where he wants them - thecoli :smugbiden:
 
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