Tyga bankruptcy case lasts years
Florida music fans may be interested in discovering that rapper Tyga actually filed for bankruptcy in late 2010. According to reports, however, he refused to pay the court-ordered judgments against him until around 2015. In the process, he accumulated no less than $35,000 in interest charges on an original sum of $88,469. Taken together, these amounts exceeded the under $50,000 in assets the 26-year-old estimated possessing.
The original damages Tyga was ordered to pay may have also been avoidable, as they amounted to a default judgment. Because Tyga failed to show up for a court date when his Tarzana, California, landlord sued him for possession of a rental home, the judge automatically decided in favor of the creditor.
Tyga has also had to deal with numerous other lawsuits brought by his landlords. Some said that he didn’t pay rent or refused to vacate properties in response to their demands. According to news sources, his original liabilities were in the range of $100,000 to $500,000 at the time of his bankruptcy filing, and his bankruptcy was dismissed more than a year before he paid the Tarzana landlord.
Although many people view Chapter 13 filing as a way to relieve their debts, bankruptcy has restrictions. Judges can still decide on a case-by-case basis whether and how bankrupt individuals need to pay specific creditors, and they may decide to use liens and other methods to collect money or damages. In addition, those who fail to comply with court-ordered remedies could potentially jeopardize their bankruptcy status and end up having to pay significant sums in interest or fines. Instead of avoiding these issues, it’s important that bankruptcy filers learn how to deal with the legal realities of Chapter 13.