The Miami Hip Hop legend filed for Chapter 13 bankruptcy on August 6. Court documents revealed his total debt owed to creditors is $807,176.86.
Trick’s assets include his Miramar, Florida home, which is listed as being worth $350,000 with $1,500 in household goods and $150 in clothes. He also has $5,000 in stock in his Trick & Rick Music Publishing company.
The Love & Hip Hop: Miami star says he’s earned $50,000 in income for 2019 and $75,000 in 2018. But he only brought in $7,500 in 2017. Trick claims his monthly income is $10,000 with $2,921 in expenses.
Trick owes $435,682 to the Fannie Mae mortgage company for his Miramar home and $290,000 to the Internal Revenue Service. He also owes $57,119 in child support, $12,000 to his homeowners’ association and an undetermined amount of credit card debt.
The August 6 filing is not the first time Trick has attempted to declare bankruptcy. He’s previously tried three different times but each case was dismissed before his debt could be discharged.
His current bankruptcy case is pending.
October 22, 2019 | 1:09 PM
by Justin Ivey