After it was revealed earlier this summer that Tyrese was facing legal action from credit card giant American Express as the result of unpaid debt, it appears the Fast & Furious star has agreed to pay it off the old fashioned way — in monthly installments.
As first reported by The Blast, AMEX filed papers last week citing that an agreement was reached. He currently owes a balance of over $61,000 with his last payment of $10,000 being made back in April.
The extent of his financial woes came to light last month and was attributed to his long — and emotionally taxing — custody battle with his ex-wife over their 10-year-old daughter. Court documents revealed monthly expenses that tallied $114,000 against monthly earnings of just $51,000, with a rapidly depleting savings in reserve.
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At one point, Tyrese had falsely claimed that Will Smith and wife Jada had given him $5 million to help him out.
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