| Rapper Young Buck Files for Bankruptcy After IRS Raid
By The Associated Press
NASHVILLE (AP) — Rapper Young Buck has filed for Chapter 13 bankruptcy in the wake of an Internal Revenue Service raid on his Hendersonville, Tenn., home.
According to The Tennessean newspaper, a judge on Aug. 20 accepted Young Buck's proposal to dock his monthly pay from Cashville Records by $12,500 over 60 months for a total of $750,000.
Chapter 13 allows a five-year repayment plan permitting unsecured creditors to recover part of what they are owed.
The rapper, whose name is David Darnell Brown, could save a large portion of the $164,000 in property the IRS seized Aug. 3.
The IRS says he owes the agency more than $300,000. Additionally, his creditors include the state of New York, American Home Mortgage Service and Wells Fargo Auto Insurance.
Young Buck's albums include Straight Outta Cashville and Buck the World.
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