While Tyga is known for wearing flashy clothes and posting about his belongings in various social media account, reports say that the rapper actually filed for bankruptcy back in January 2011.

A recent report states that the rapper filed for Chapter 13 bankruptcy back in December 10, 2010. However, in January the following year, HSBC BANK USA accused the rapper of filing in "bad faith to delay, hinder, or defraud the bank," reports Radar Online.

According to reports, the California-based rapper filed bankruptcy to get himself out of paying debt, particularly to his former landlord. Apparently, the landlord won a default judgment over Tyga missing a rent payment, which was past its due date.

Born Michael Ray Stevenson, Tyga said that the money left in his account was only $50,000, and that there is no way he can afford the real estate debt that amounted to $500,000. The sum included the money he owed from the home he was evicted from.

Court documents dated in January 11 state how the bank explained that Tyga "transferred all or part ownership or other interest in, a property without the consent or approval of the court," reports theJasmineBrand.com.

HSBC attests that a woman named Olivia Blaisure transferred the ownership of her house in California to herself, Tyga and an individual named Mark Cannon. According to Blaisure, she was adding the two new owners as a "gift." Over $7,000 was owed on the said home. Tyga's file for bankruptcy was dismissed a month later due to the rapper's failure to submit requirements. Because of the dismissal, Tyga was still obliged to pay all debts.

Meanwhile, Tyga is currently finding himself on some steam after DuJour Magazine printed details of his alleged cheating on girlfriend Kylie Jenner. While the magazine did a story on Tyga, the editorial team saw a woman, identified as Val Mercado, waiting outside the rapper's driveway wearing "last night's" clothing.