- Associated Press - Wednesday, September 1, 2010

NASHVILLE, TENN. (AP) - Rapper Young Buck has filed for bankruptcy after an Internal Revenue Service raid on his Hendersonville, Tenn., home.

The Tennessean newspaper reports that a judge has accepted the rapper’s proposal to dock his monthly pay from Cashville Records by $12,500 over 60 months for a total of $750,000.

The rapper, whose name is David Darnell Brown, could save a large portion of the $164,000 in property the IRS seized Aug. 3. The IRS says he owes the agency more than $300,000.

Chapter 13 filing allows a five-year repayment plan for unsecured creditors to recover part of what they are owed. Other creditors include the state of New York, American Home Mortgage Service and Wells Fargo Auto Insurance.

Young Buck’s albums include “Straight Outta Ca$hville” and “Buck the World.”

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Information from: The Tennessean, http://www.tennessean.com