Tyga may have fame and rumored Kardashian affiliations under his belt, but the rapper has been bankrupt for a long time.
According to TheJasmineBrand, Tyga (real name Michael Stevenson) secretly filed for Chapter 13 bankruptcy five years ago. Chronicling how Tyga ended up in such a state, the site mentioned that the 26-year-old entertainer stated he had estimated assets between $0-$50k as well as liabilities (debt owed to creditors) in the $100k-$500k range when he filed for bankruptcy back on Dec. 13, 2010.
At the time, Tyga stated that his only creditor was a landlord who won a judgment against him for possession of the home he was staying in. Los Angeles Court records reveal that the landlord sued Tyga for possession of the home he was renting in Tarzana, CA. With him not showing up to court, the landlord won a default judgment of $88,469.
Despite the ruling in the landlord’s favor, the case dragged on for years, with Tyga not paying what he is ordered to pay. As a result, the rapper garnered more than $35,000 in interest. A satisfaction of judgment was ultimately entered last year after Tyga recently paid the debt to his former landlord.
News about Tyga’s secret bankruptcy comes amid numerous lawsuits he’s been hit with as well as being in court at various times to face landlords who brought cases about him allegedly failing to pay rent or not moving out when the landlords demanded he leave.
Although he signed with Cash Money Records in 2007, he didn’t release a full-length album until 2012, nearly a year after his bankruptcy was dismissed.
(Photo Source: PR Photos)