Rapper Young Buck (aka David Darnell Brown) has had his Chapter 11 bankruptcy case converted to a Chapter 7 bankruptcy case by a bankruptcy judge in Nashville, Tennessee, according to reports from the Wall Street Journal’s Bankruptcy Beat.
Now in Chapter 7 bankruptcy, Buck faces a liquidation of his assets to repay creditors. Among those assets, reports NewsOne.com, could be his stage name, "Young Buck." Whether or not the name will be salable remains to be seen.
While Chapter 11 bankruptcy would have afforded Buck the chance to repay his creditors from future earnings and let him keep many of his belongings, he may find that Chapter 7 bankruptcy has advantages as well. The liquidation type of bankruptcy will require that Buck sell off many of his personal belongings to raise money for creditors, but it may also afford Buck the opportunity to discharge certain unsecured debts.
Read the rest of the article at Total Bankruptcy
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