Young Buck Explains Bankruptcy Filing; Denies Plans To Sue 50 Cent

Young Buck has released a statement in response to the news of his filing for bankruptcy hitting the Internet and according to the Tennesseerapper, he did not voluntarily file for Chapter 13 but was forced to do so, so that he could get his current financial situation under control.

“I was forced to file bankruptcy, not because I am broke, but because I have to get my finances back in order and deal with the contract situations I was in,” said Buck. “Now I have a clean slate and full control over my own life and career.”

According to sources, reps for Buck also confirmed that the Chapter 13 filing negated “any and all contractual obligations” held by the southern MC including “his recording and publishing contracts with G-Unit Recordings.”

Now a free man, Buck also claimed that despite what his bankruptcy attorney, Lynda Jones, told the Nashville City Paper, he has no plans to file a civil suit against 50 Cent and the G-Unit label.

“Where did that rumor come from?! said Buck. “I have not filed suit against anyone, although, maybe that’s not a bad idea.”

In other news, Buck will release a new street album titledThe Rehab on September 7th.