Just when we thought things were looking up for 50 Cent, they just came back crashing DOWN!
Rap mogul 50 Cent is crying foul over the bankruptcy payment plan approved by his trustee to pay off his $30 million debt to his creditors.
He argued that the creditors’ payment plan is in violation of the 13th Amendment which abolished slavery 150 years ago.
The 13th amendment states that slavery or involuntary servitude should only be used as punishment for a crime.
Fiddy, whose real name is Curtis Jackson, filed Chapter 13 bankruptcy protection from his creditors who include Sleek Audio, Lastonia Leviston, and SunTrust Bank.
Under Chapter 13 bankruptcy Jackson gets to keep his assets but he must agree to a 5-year payment plan to pay the $30 million he owes to his creditors.
In court documents obtained by Gossip Cop, Jackson complained that the 5-year payment plan forces him into “involuntary servitude,” and he compared himself to a modern day slave.
Jackson called the creditors’ plan a “near-indefinite period of involuntary” slavery.
He complained bitterly that he will be forced to work like a slave over the next 5 years to pay off his debts.
Jackson was particularly upset with the court-appointed trustee whose duties are to make sure the rapper sticks to the payment plan — or risk being sentenced to debtors’ prison.
Jackson said his “access to food and shelter [is dependent] on the whim of the trustee.”
He owes $7 million to Lastonia Leviston, the mother of Rick Ross‘ child, who sued him for posting her sex tape on the Internet.
He also owes a $18.4 million judgment to Sleek Audio and millions of dollars to Suntrust bank.