The Freek-a-Leek rapper previously declared bankruptcy twice in 2009, and earlier this month (Apr16), he filed for Chapter 13 bankruptcy in his homestate of North Carolina.

According to legal documents obtained by Bossip.com, Petey, real name Moses Barrett, has less than $50,000 (£34,167) in assets to his name, and liabilities around the same amount.

Among the creditors listed in the papers are the IRS, gym firm Planet Fitness, and car companies Enterprise and Ford Motor Credit.

When Petey first filed for bankruptcy in 2009, his liabilities were around $850,000 (£580,839), with his assets worth $560,000 (£382,670), according to the legal documents. Those two bankruptcy attempts were dismissed due to failed repayment plans.

The filing comes two years after Petey was released from jail following a three-year sentence for trying to smuggle a gun through an airport.

Last year (15), he scored a guest role on hit hip-hop TV series Empire - ironically as a prison inmate alongside the show's star Terrence Howard.