Earlier today reports of 50 Cent filing for Chapter 11 bankruptcy grabbed headlines. Some feared that 50 Cent was on the downside within his finances, but the Chapter 11 filing was a measure in order to reorganize and restructure debt situation. This case highlights that no one is immune to making poor financial choices. Absolutely anyone can mess up their finances, and that’s why so many people are contacting accountants, such as this Accounting firm Melbourne based. This way, people will be able to plan their finances and spending and prevent a case of bankruptcy occurring. In addition to that, anyone in the UK who is keen to avoid a poor financial situation turning into bankruptcy should enquire about the services offered by uk bridging loans.

Speaking about his business move, 50 states that he is simply making the moves any good businessman would. Check the full statement below.

“I’m taking the precautions that any other good businessperson would take in this situation. You know when you’re successful and stuff, you become a target. I don’t wanna be a bullseye. I don’t want anybody to pick me as the guy that they just come to with astronomical claims and go through all that. Walt Disney has filed Bankruptcy. Donald Trump has filed bankruptcy. It means you’re reorganizing your finances, but it does stop things from moving forward that you don’t want moving forward. I got a decent legal team. You don’t have to worry.”

Also, giving an update on the bankruptcy is William A. Brewer III, partner at Brew, Attorney & Counselors and part of 50’s counsel who issued a statement to Billboard, which can be read below.

“The filing allows Mr. Jackson to reorganize his financial affairs, as he addresses various professional liabilities and takes steps to position the future of his various business interests. Mr. Jackson’s business interests will continue unaffected in the ordinary course during the pendency of the chapter 11 case, though perhaps through strategic corporate solvency with the brands he has ownership of, Mr. Jackson can pull through. This filing for personal bankruptcy protection permits Mr. Jackson to continue his involvement with various business interests and continue his work as an entertainer, while he pursues an orderly reorganization of his financial affairs.”

Does the statement add clarity to the financial plan? Let us know below.