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Fazer declared bankrupt

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N-Dubz rapper Fazer is 'declared bankrupt over unpaid tax bill'

By Daily Mail Reporter

PUBLISHED: 07:37, 18 December 2013 | UPDATED: 11:19, 18 December 2013

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N-Dubz rapper Fazer is broke after being unable to pay his tax bills.

According to The Sun, official records show that the star, 26, was made bankrupt earlier this month.

If the star fails to pay the unknown amount, he risks losing his share of a £796,500 North London flat he bought with Tulisa, who he dated for over 18 months until their split last year.

 
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Financial troubles: N-Dubz star Fazer has been declared bankrupt after being unable to pay his tax bills

 

The singer, whose real name is Richard Rawson, became a father for the first time in February when his model partner Ashley Emma gave birth to a girl, Ava Rose Rawson.

Fazer formed N-Dubz alongside Dappy and former X Factor judge Tulisa Contostavlos, 25, with the band announcing a two-year break for solo projects in 2011.

 

Meanwhile, Tulisa is due to appear at Westminster magistrate court on Thursday, charged with supplying cocaine.

 
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Hey-day: Fazer achieved chart success with his N-Dubz bandmates Dappy and Tulisa

 

A probe by The Sun on Sunday reported that she allegedly set up an £800 deal to supply half an ounce of the drug.

Meanwhile bandmate Dappy is reportedly going into the Celebrity Big Brother house after he appeared at a bankruptcy hearing over an unpaid tax bill earlier this month.

The N-Dubz rapper, 26, is planning to star on the next series of the Channel 5 reality TV show, which starts on January 3, 2014, The Sun reports.

Dappy, whose real name is Costadinos Contostavlos, has denied bankruptcy claims, tweeting: ‘WTF is all this bullshhhhhhh in the Paper!!!!!! I just got a quarter of a Mill!!!! Plus my New record deal is on Da Table!!! #FarFromB.’

 
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Father: The star became a dad for the first time in February when his model partner Ashley Emma gave birth to a girl, Ava Rose Rawson

 

He added: ‘I got doe (dough) now and always will have!!!!!! If your talented you'll always be financially stable!!!!!’

The star, who has been recovering after being kicked in the face by a horse, has previously criticised reality TV shows.

He said: ‘No way would I go on one of them. They're the kiss of death. You go on I'm A Celeb or Celebrity Big Brother when your career is fading away. It's a disgrace!’ 

MailOnline has contacted a representative for Fazer for comment.

Read more: http://www.dailymail.co.uk/tvshowbiz/article-2525664/N-Dubz-star-Fazer-declared-bankrupt.html#ixzz2npZmkgFJ

Follow us: @MailOnline on Twitter | DailyMail on Facebook

 

 

di rise and di fall

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instead of buying all that jewellery and nonsense should of thought wiser

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boiiiiiii

 

reunion tour on di way!

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as i said in the other thread it doesnt surprise me at all

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He has money 

 

some hating thread.

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The star, who has been recovering after being kicked in the face by a horse

 

Wut...

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Will Filing for Bankruptcy Wipe Out All Debt?

There are certain categories of debt that may not be discharged by a bankruptcy filing, including:

  • Past due child supportalimony payments, and other debts resulting from divorce settlement agreements or divorce decrees
  • Student loans except in certain exceptional circumstances
  • Income taxes that are less than 3 years past due
  • Court fines
  • DUI judgments against the debtor
  • Debts incurred by fraudulent means, such as writing a bad check or providing false information on a credit application

If a large portion of the debt is non-dischargeable, it may not make sense for the debtor to file for bankruptcy.

Are There any Advantages to Filing for Bankruptcy?

As soon as a debtor files for bankruptcy, there is an automatic stay and most creditors must stop their collection efforts. In addition, the bankruptcy process is quite fast, usually around a year, compared to other issues and cases addressed by the judicial system. Thus, the debtor can begin rebuilding his credit; financially-speaking, the debtor can start over. 

It is true that filing for bankruptcy ruins a debtor's credit for a number of years and may cause embarrassment. However, incurring more debt and facing the harassing phone calls, letters and potential lawsuits from creditors can have the same effect. Filing for bankruptcy will allow many debtors to get started sooner on rebuilding their credit in peace.

Will Some Property be Protected?

Certain categories of property may not be taken by creditors after a debtor files for bankruptcy. The type of exempt property will vary from state to state but typically includes motor vehicles up to a certain value, some clothing and household furnishings, life insurance and portions of earned wages.

In addition, there are different types of bankruptcy. Some chapters of bankruptcy, such as Chapter 13, allow the debtor to reorganize and restructure their debt to avoid liquidation of property.

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a man went to research bankruptcy based on this thread

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a man went to research bankruptcy based on this thread

 

Interesting subject actually 

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Bizzle getting his digs in as usual

i like his hustle tho....that "dench " movement is goin well(so i hear)

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If I had money like these guys

I would buy as many properties as poss. Rent them out. Simple.

Never go broke.

Someone told me lethal has a few props. Smart man

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If I had money like these guys

I would buy as many properties as poss. Rent them out. Simple.

Never go broke.

Someone told me lethal has a few props. Smart man

 

Its not about being broke or not. Its more about being organised and having discipline

 

You have to appease the taxman. i.e. claiming back VAT and giving HMRC their piece of the pie and save aside a part of all of your earnings to pay corporation tax on a yearly basis etc

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is it true about rappers and strip clubs= tax write off ??

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If I had money like these guys

I would buy as many properties as poss. Rent them out. Simple.

Never go broke.

Someone told me lethal has a few props. Smart man

i said this in another thred got negged

 

but isnt that not the smartest thing to do

 

if u had million pounds spend 500-800k on property and rent it out

 

simple

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If I had money like these guys

I would buy as many properties as poss. Rent them out. Simple.

Never go broke.

Someone told me lethal has a few props. Smart man

 

Its not about being broke or not. Its more about being organised and having discipline

 

You have to appease the taxman. i.e. claiming back VAT and giving HMRC their piece of the pie and save aside a part of all of your earnings to pay corporation tax on a yearly basis etc

isnt that what an accountant is for

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If I had money like these guys

I would buy as many properties as poss. Rent them out. Simple.

Never go broke.

Someone told me lethal has a few props. Smart man

 

Its not about being broke or not. Its more about being organised and having discipline

 

You have to appease the taxman. i.e. claiming back VAT and giving HMRC their piece of the pie and save aside a part of all of your earnings to pay corporation tax on a yearly basis etc

isnt that what an accountant is for

 

Accountant can only do so much

 

Ultimately its you that pay the bills to the taxman not them

 

There is still a huge degree of responsibility placed on yourself

 

Like for example you pay VAT quarterly and CT yearly. Between these periods the taxman doesn't tell you what to do with your money they just tell you to 'put some aside' untill your returns are due then give you the figure. They then assume you have that amount put aside lol

 

I know this from personal experience 

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If I had money like these guys

I would buy as many properties as poss. Rent them out. Simple.

Never go broke.

Someone told me lethal has a few props. Smart man

 

Its not about being broke or not. Its more about being organised and having discipline

 

You have to appease the taxman. i.e. claiming back VAT and giving HMRC their piece of the pie and save aside a part of all of your earnings to pay corporation tax on a yearly basis etc

isnt that what an accountant is for

 

Accountant can only do so much

 

Ultimately its you that pay the bills to the taxman not them

 

There is still a huge degree of responsibility placed on yourself

 

Like for example you pay VAT quarterly and CT yearly. Between these periods the taxman doesn't tell you what to do with your money they just tell you to 'put some aside' untill your returns are due then give you the figure. They then assume you have that amount put aside lol

 

I know this from personal experience 

are you contracting?

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Even worse if the accountant is slyly taking p ...some of these accountants are the reason certain man get fucked over.

 

/

 

saw fazer couple weeks back ina club splashing. UNLK

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its always this buck tooth nigerian that makes threads on showbiz like a groupie or money.

 

get a life you twat

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If I had money like these guys

I would buy as many properties as poss. Rent them out. Simple.

Never go broke.

Someone told me lethal has a few props. Smart man

i said this in another thred got negged

 

but isnt that not the smartest thing to do

 

if u had million pounds spend 500-800k on property and rent it out

 

simple

 

if u don't mind waiting 25 years to make money on ur investment n ur willing to go through the hassle of being a landlord

 

if u had millions it'd be a lot easier to sit on ur arse n just not be an idiot

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