Young Buck is set to resolve his financial obligations to 50 Cent as part of his bankruptcy proceedings.
The U.S. Trustee, Region 8, has requested the dismissal of 50 Cent’s $250,000 lawsuit over a dispute involving Young Buck’s recording contract with G-Unit Records now that the Nashville, Tennessee rapper’s assets have been sold off.
Young Buck filed for bankruptcy in May 2020 after a tumultuous 2019 involving jail time and financial struggles.
The move was also made in part to get out of his contract with G-Unit Records after Buck’s relationship with Fif broke down over the $250,000 debt.
Young Buck maintained that it was an advance against future albums, while 50 Cent claimed it was a loan to help his artist during his financial struggles.
50 Cent tried to block the bankruptcy proceedings until the debt was settled and Young Buck fulfilled his recording contract.
Young Buck and his legal team argued that he was not obligated to repay any funds since the money was never classified as a loan.
According to documents obtained by AllHipHop.com, Buck has sold enough assets from his estate to cover all outstanding claims, including his debt to 50 Cent.
Young Buck sold off his jewelry, cars and most importantly – his valuable catalog.
The bankruptcy trustee netted $1,023,669.67 from the liquidation of Young Buck’s assets.
In addition to 50 Cent, Young Buck will pay off his child support debt and a $190,000 obligation to the IRS, giving him a clean slate and the green light to start making money from his lucrative rap career.
