Bankrupt Buck

Whether the title of his debut album Straight Outta Cashville was a portent or merely an unfortunate coincidence, rapper Young Buck is apparently facing some money troubles.

Young Buck (real name David Darnell Brown) recently filed for Chapter 13 bankruptcy after IRS agents raided his home near Nashville last month.

Following the raid, the rapper said in a statement that leaving his financial affairs in the hands of his team was a mistake he’ll never make again.

“This is a huge wake up call for all entertainers to stay on top of your own trusted employees and team members, and replace anyone that was put in place by your record label if the situation you have goes sour,” he said. “This IRS situation came about because I trusted accountants, lawyers, and managers to handle my business for me while I focused on making music. From now on, I am going to stay on top of my own business.”

According to court documents obtained by the Tennessean, Brown proposed in court that his label Cashville Records dock his monthly pay by $12,500 over 60 months for a total of $750,000. Judge George Paine accepted the proposed plan Aug. 5, the paper said. The bankruptcy filing says he makes about $19,000 per month.

Brown reportedly owes more than $300,000 in back taxes, interest and penalties to the IRS and other creditors. In filing Chapter 13, he won’t face liquidation of thousands of dollars in assets that were seized during the raid on his home.