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Lawyers for rapper 50 Cent have reached deals with creditors who hold more than 95 percent of the hip-hop mogul's debts, the Hartford Courant reported today. Bankruptcy Judge Ann Nevins scheduled yesterday’s hearing to hear what 50 Cent had to say about a variety of photos posted on social media — including one that showed him lying amid bundles of cash and another with the bundles arranged to spell "BROKE." The largest of 50 Cent's creditors raised questions about the photos in a court filing and questioned whether the entertainer, whose real name is Curtis James Jackson III, was reporting all of his income. Shortly after the judge ordered Jackson to court, Jackson's lawyers got together with the creditors' lawyers to assure them that the cash in the photos was fake and that Jackson was reporting all income and expenses as required by the bankruptcy court. Those talks have been ongoing over the past three weeks and have yielded an agreement that, if approved by Nevins, would have all secured creditors paid in full and have unsecured creditors paid between 74 and 92 percent of what they are owed over five years.

Total U.S. bankruptcy filings decreased just 1 percent in February from the same period last year, according to data provided by Epiq Systems, Inc. Bankruptcy filings totaled 64,662 in February 2016, down slightly from the February 2015 total of 65,064. Consumer filings declined 2 percent in February 2016 to 61,662 from the February 2015 consumer filing total of 62,784. However, total commercial filings in February 2016 jumped to 3,000, representing a 32 percent increase from the 2,280 business filings recorded in February 2015. The 476 total commercial chapter 11 filings in February 2016 represented an increase of 31 percent from February 2015’s total of 364. “February showed that decreases in total filings are starting to level off, and more businesses are turning to the financial relief of bankruptcy," said ABI Executive Director Samuel J. Gerdano. “As the last major overhaul of chapter 11 took place in 1978, the recommendations of ABI's Chapter 11 Reform Commission provide an updated roadmap for struggling businesses and courts trying to navigate today’s complex financial terrain.”