Tyga’s ‘Financial Hardships’ Revealed In $128k Legal Battle Over Repossessed Ferrari & Rolls Royce, Rapper On A Payment Plan
Tyga is still paying off a massive debt he was hit with after his Ferrari and Rolls Royce were repossessed.
According to court documents obtained by Radar, the Rack City rapper has been unable to pay the settlement amount he agreed to in the suit with Midway Rent A Car.
Back in February 2019, a company called Midway Rent a Car, Inc. sued Tyga (real name: Michael Stevenson) over an unpaid bill.
The suit accused Tyga of breach of contract. The company said owed them a total of $127,789.73 over luxury automobiles he leased from them in 2015.
The suit said Tyga entered into two lease agreements for a 2012 Ferrari 458 Spyder and a 2021 Rolls Royce Ghost.
The original lawsuit said the rapper made several monthly payments before abruptly stopping. At the time, Tyga owed $267k on the Ferrari and $174k on the Rolls.
The company then repossessed the cars from Tyga over the non-payment. The two cars were sold off, but the company demanded Blac Chyna’s ex pay the difference on both.
Midway demanded $43k for the Ferrari and another $84k on the Rolls for a grand total of $127k.
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The case was settled in December 2019 after Tyga agreed to a payment plan.
However, Midway went back to court recently claiming Tyga hasn’t finished paying the settlement. They claim he’s paid over 58% but has been granted several deferments due to the pandemic.
“The matter remains settled and Defendant is timely on his obligations or has asked and been provided accommodation due to financial hardship by deferring several monthly payments under the settlement agreement,” the docs note.
Midway is asking the court to give Tyga another 12 months or longer to cough up the cash.
Midway "respectfully requests another 12 months stay to allow Defendant to meet his settlement obligations." Once Tyga pays the balance the suit will be closed once and for all.
Tyga's money problems are being exposed weeks after his ex-girlfriend Camaryn Swanson accused him of assaulting her at his Los Angeles home. The Los Angeles Police Department interviewed the rapper and determined he was the aggressor. He was arrested on felony domestic violence and bonded out hours later. He has yet to be officially charged by the District Attorney.
