Earlier this year, super producer Jazze Pha filed for Chapter 13 bankruptcy protection but it seems he’s going to have to pay his bills after all.
In his filings, Jazze (real name Phalon Alexander) claimed over $625k in debts but only $590k in assets. He also said at the time he only had 13k in cash to his name.
Jazze will have to pay his creditors in full after a judge threw out his banckruptcy case.
The Jasmine Brand reports that Jazze’s case was thrown out last week and now, creditors may begin going after his assets!
Here’s the latest: On August 18th, the Federal Court judge came back and sided with the trustee by throwing out the case and officially dismissing the Chapter 13 the same day. The dismissal of the bankruptcy leaves the music producer on the hook for his $625k+ debt, without the protection of the court. This means his creditors could begin the process of collecting on the money owed to them by seizing assets and property from the hit maker.
Jazze filed his banckruptcy case April, 28, 2016 in Georgia.
According to the court documents, the music producer – who runs his company Futureristic Entertainment – has less than $590k in assets and over $625k owed in liabilities to creditors.
The producer said his gross income for this year came out to $30k and last year he only made $65k from his business. His monthly income is listed as zero, but his company racks in $14k per month. (READ MORE)
Meanwhile Jazze remains unbothered by all the collection calls…
Versace flip flops on marble floors are certainly a ‘pick me up’ when those bill collectors are calling.