50 Cent is on his way back from the pit of bankruptcy, thanks to a new deal submitted to the judge presiding over his case.
TMZ reports the rapper and his lawyers submitted their plan to a bankruptcy judge. According to court documents, he will pay more than $23 million over the next five years to some of the creditors he owes.
Broken down, the documents go on to reveal that 50 will split the settlement amounts among three of his biggest creditors, with Sleek Audio receiving $17.3 million and SunTrust Bank getting about $4.9 mil. Although she got a $7 million judgment in her sex tape case against 50 Cent , Lastonia Leviston has settled on $6 million.
In addition to the hefty $23 million settlement, 50 Cent revealed that he’s covering the debts with liquidating some of his assets. At this time, 50 Cent’s payback plan still has to be approved.
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