Rapper 50 Cent Has Completed The First Step In His Bankruptcy Proceedings By Finishing A Court-ordered Class About Managing Debt.
The Candy Shop hitmaker, real name Curtis Jackson, filed for chapter 11 bankruptcy protection last week (13Jul15), just days after he was ordered to pay $5 million (£3.3 million) in damages to rap rival Rick Ross' ex, Lavonia Leviston, for leaking her sex tape online.
Part of the legal action required 50 Cent to enroll in a Debtor Education course, which he reportedly took online for just $15 (£9.38) and has since completed, reports TMZ.com.
His next move is working on a debt repayment plan.
In his bankruptcy documents, 50 Cent listed the value of his assets at between $10 million (£6.25 million) and $50 million (£31.25 million), while his liabilities fall between the same range.
He also testified about his finances in a New York court on Tuesday (21Jul15), as part of the sex tape lawsuit to help jurors determine additional punitive damages, insisting his net worth is just $4.4 million (£2.75 million) and nowhere near Forbes experts' recent estimation of $155 million (£96.9 million).
The star's lawyer, James Renard, also revealed his client's bank balance is quickly approaching zero as he works to pay off his outstanding debts.
50 Cent previously played down his money woes, claiming the bankruptcy filing was simply a strategy for "reorganising" his finances.
The ace partnership between filmmaker Paul Feig and actress Melissa McCarthy evolves into something formidable...
The life of a boxer has never been easy, but for heavyweight champion, Billy Hope...
Susan Cooper works as an analyst for the CIA; rarely out where the action is...
Paul (Jason Patric) used to be a major figure in the Las Vegas crime world...
An almost ridiculously strong cast and a witty script by the writer of Crazy Stupid...
This lively and engaging documentary may be set out like an informercial, but it teaches...
Jack Halcombe is an Alaskan State Trooper who determinedly sets out to find a serial...
Even though this crime thriller is based on a true story, it never feels remotely...
Ray Breslin is an expert in structural-security and has been able to break out of...
Jeremy Coleman is a firefighter who is looking forward to a night of celebrations with...
Vince Ferro is badly in need of money to support his family. His only source...
Working in television is a cut-throat industry, keep your figures up or get out. After...
Yet another retread of the Lock, Stock and Two Smoking Barrels, this London crime caper...
Watch the trailer for Dead Man Running Mr Thigo is a man you don't want...