Too Short Files For Chapter 7 Bankruptcy

    45
    SHARE

    Too Short Bankrupt

     

    Too Short on Cash!

    Too Short (Todd Shaw) is filing for bankruptcy again, this time in California!

    Five years have passed since Too Short FILED CHAPTER 7 bankruptcy in the state of Georgia, with only $3,000 in the bank and almost $2.5 million in debt. In an effort to repay his creditors his bankruptcy put a lien on all his assets, foreclosed his mortgage, his jewelry was sold for pennies on the dollar at a government auction, and his creditors repossessed his 2005 dodge magnum.

    This includes the $450,000 that he owed to the IRS for not reporting income via tax evasion, welfare fraud, and child support non-payment. About 1 million of that debt is of Too Shorts own reckless spending on credit cards, bad investments, car leases, and one mortgage for his house.

    1 million more of the debt is owed to the family of a deceased car accident victim (James Ellerbee). In 1991 there was a head on collision between Too Short (drunk driving without auto-insurance) and a vehicle containing 2 young men (22 year old James Ellerbee who died on impact) and one other young man who was severely injured. Too Short owed the surviving Ellerbee family 17 million in a court settlement, but has managed to have the settlement amount lowered to $1 million due to his inability to pay.

    Over 23 years since the car crash that resulted in Ellerbee’s death, Too Short has only managed to send sporadic small payments to the Ellerbee family.

    Too short lists his current residence as California and a person must live in a state for at least 2 years prior to being able to file for bankruptcy in that state.

    Too Short recently hired a bankruptcy attorney to file Chapter 7 bankruptcy in California, listing his new debts (debts that he has incurred since his 2008 bankruptcy in Georgia) as new business losses, recording studio costs, massive legal fees, and unpaid medical bills. His total assets amount to almost zero, and it is reported he owes about $380,000 to his creditors, he can’t access any more bank loans with his debtors demanding payment and stopping all his credit lines.

    Once bankruptcy is initiated all of his assets (property, money, cars, jewelry) will be seized and sold to pay off some creditors, and he will then be able to slowly rebuild his credit from scratch, in about 9 years his California bankruptcy will drop off his CREDIT REPORT.

    Hollywood Street King on Instagram
    Previous articleMister Cee Steps Down From The 1’s & 2’s
    Next articleFreddie Foxxx Held a Strap To Birdman’s Head

    45 COMMENTS

      • WHY, OH WHY CAN’T HE GO 2 EUROPE AND DO SHOWS?

        ALL THE OLD HEAD RAPPERS R, AND HE HAD ENUFF HITS 2 MAKE A COUPLE MILLI OVA DERE.

        HELL, CRACKHEAD ALEXANDER O’NEAL IS PULLING DOWN 1 MILLI A YEAR OVA DERE.

    1. I’m Surprised His Best Friend (Kendra Wilkinson) Ain’t Helping Him, If Their So Damn Close.

    2. A fool and his money shall soon part, not watching the bottom line and spending frivolously, thinking it would never end, all the Cadillac’s and big houses, clothes, diamonds, and the bitches from”freaky tell’s the tells you could tell so well, it’s over I guess the rap game ain’t shit too short is to old for all of it anyway, liquidate those assets and go from there. Sorry to hear such bad news

    3. Karma a bitch how you kill someone you only ordered to pay a million after you bitched bout 17 million get real but you love trickn on hoes

    4. I don’t know how most so-called pimps end up, but I never thought “TOO SHORT” was a real pimp, he always strike me as a guy he was using the pimp persona to sell records

    5. too short yes indeed acted like a pimp to sell records.

      too short watched Blaxploitation flicks like the mack and superfly and willie dynamite.

      listened to dolemite and blowfly and read iceberg slim and Donald goines.

      yes after hearing and reading all that short dog decided to put all that on record.

      shorty b his guitar and bass player said short never was what he portrayed himself to be.

      and shorty said too short bought a lot of p*ssy and spent all his money on girls and drugs.

    6. This kneegrow need to be introduced to a dentist.

      Typical fool, can’t take care of the basics, but can drop bills on bling and hoes.

      What about the man that died? He couldn’t pull it together enough to pay the family something? He couldn’t have used that experience to clean up his life. You take someone’s life in a drunk driving accident and you betta repent! 2short is a worthless POS, or prolly just another DL fake rapper.

    7. In certain states, the state will compensate the victim of an uninsured accident. Or I know they used to.

      Idk if they give a million, maybe a few thousand..

      Was the victim Too Shorts sacrifice?

      He said awhile ago his first album cover was a borrowed car, fur and chain… he had nothing..
      Guess he went full circle with his career…

    8. too short used to love to brag about all the money he was making in his young days.

      his music isn’t selling these days hes almost 50 who wan ts to hear a middle aged crackhead talk about the same things over and over again.

      too short made 20 something albums talking bout pimpin it was cool til about 2000 hit and his format haven’t changed.

      no matter who wrote his rhymes.

      the dangerous crew is still talking bout how short ripped them off.

      ant banks hnas’nt produced anybody since the last twdy album in 2000.

      spice 1 was shot a few years back ain’t nobody checking for him no more either.

      goldy’s broke and on drugs.

      fatha dom went crazy.

      mc breed died a few years back.

      rappin ron died in a CAR WRECK.

      SHORT’S STILL MAKING ALBUMS AND THE RAP SCENE MOVED ON.

      KIND OF SAD WHEN A SO CALLED PIMP IS ON COUPLES THERAPY ON VH1 YES SHORT NEED THE MONEY.

    9. Damn, he looks terrible. Guilt about that accident, reminds me of G-Dep who is down for 15 for confessing to manslaughter after about 20 years.

      The conscious will always get you.

    10. Too Short made a life-changing decision that day, and his life will never be the same. Don’t feel sorry for him, he took a life and severely injured another person. This is karma coming to life. He gotta get real about life, whether he does or not… We’ll See?

    11. Nigga driving around in all those fancy leased cars and he couldn’t afford a little dental insurance?
      But I guess he had to keep his priorities in order.

    12. Damn(singing) Getting it while it was getting it good. U need a good lawyer like Johnnie Cochran..oops R.I.P. Johnnie can can’t call him.

    13. I was never a fan of Too Short’s music. All that pimping aint easy nonsense was garbage. I doubt he came close to having $17 million. The rap industry aint paying people like that. Look at Mc Hammer and the list goes on and on.

      • He’s that example you hear about in church, “satan raise you up, only to take you down.” He couldn’t have possibly believed he got away with ho this and b that. He saw Easy’s faith, It did not end well

    14. Kendra Wilkerson Baskett dont have no money to lend Too Short because she’s broke and a fraud. Her husband is unemployed but I think he gets a check for their reality show. Their faking all that drama for tv.Thats what happens when you dont go to school and have something to fall back on.

      • @Anonymous

        Thanks For The Info, What You Said Made Perfect Sense Because Kendra’s Doing A U.K Realty Show
        Right Now, Called “I’m A Celebrity, Get Me Out Of Here”

        Where Celebs Have To Stay In A Australasian Jungle, Eat Snails, Pig Noses, Ants, Cockroaches, Animal Testicles
        They Have To Humiliation Themselves For The Money!, For The Love Of Money

    15. You stupid ass white folks put this old azz picture up there his grill has been fixed for sometime now. It was done so that the haters of $hort will post negative shit. This site has become BULLSHIT !!!! I dont even know why I waste my time reading or commenting on it. PLEASE BRING BACK JACKIE !!!! Other SHUT IT DOWN !!!!!

      • He moved from coke to meth. But I use to mess with too short when I was listening to rap music. I can’t even listen to anything made after Ten Toes Down.

    16. He can’t tour overseas because if its true he has an enormous amount of money owed for back child support, he cannot get a passport. Ever since 9/11, if you owe more than $2500 in back child support, you cannot get a new passport or renew your current one. If you happen to be overseas already, you cannot come back into the US legally until the amount owed is rectified.

      • (In my Kevin Hart’s voice) Wait, Wait, Wait a minute, Wait a minute! U mean to tell me if the non custodial parent is overseas and his passport do expire, and owe child support but can’t come back to the US no nor can not stay in the country they are in, where do they go? This is one interesting point U made Ms.DoRight.

      • I think one of the exclusions is if the parent filed for bankruptcy and is protected by the bankruptcy stay then the rule is voided. DMX broke azz and Talib Kweli recently performed in Germany. I think that is how X cicumvented the passport rule. Short needs to get it together. Even Planet Asia tours overseas.

    17. @DaRadiant1 yup, remember when Jermaine Jackson went overseas and tried to come back they told him until he un-assed $40-$80k he owed he could not come back

    18. HSK ain’t shit for posting that old picture! LOL Funny how he and Ice-T pretended to be pimps and got successful off it, though.

    19. Todd is just a cool dude with very bad spending habits, went to school with him, Bret Harte Jr High and Fremont High School, that’s the homie. And most of y’all way off the mark with your speculations about Short.

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here