TRICK DADDY: Filing for Bankruptcy

Trick Daddy has filed for Chapter 11 bankruptcy. The Miami rapper is in the red because of a number of outstanding debts. He owes a combined $55,000 in child support, $290,000 in back taxes and $280,000 for his first mortgage.

In his court paperwork, Trick claims he still brings in $14,500 a month in music publishing and club gigs. He does his best to live within his means and has only $550 in clothes and jewelry to his name. (TMZ)

Say Whaaaat:

• Financial planning can be tough when you’re an entertainer. Fans can be fickle which makes it impossible to predict future popularity.
• 50 Cent made filing for bankruptcy cool.
• The tax man will get you every time.
• More baby mamas, more problems.
• "Daddy Dollars" might need to come up with a new AKA sooner rather than later.