50 Cent has reached a deal with his creditors that stipulated he pay as much as 74% of what he originally owed them. The rapper will have to pay $23 million over five years

Rapper 50 Cent has  reached a deal with his creditors that stipulate he pay $23 million dollars over the next five years.

The amount works out to be around $400,000 a month and is 74 per cent of what he originally owed them. 

TMZ reports that The Get Rich or Die Tryin' star, whose real name is Curtis James Jackson III, has submitted a proposal through his lawyers which will need to be approved by bankruptcy Judge Ann Nevins. 

Sleek Audio, 50's biggest creditor, would receive $17.3 million under the terms of the proposal. The rapper has also pledged to liquidate a portion of his remaining assets to cover debts beyond the $23 million agreement. 

Mo money, mo problems: 50 Cent has reached a deal with his creditors that stipulated he pay as much as 74% of what he originally owed them. The rapper will have to pay $23 million over five years

Fake: 50 Cent (pictured) filed for bankruptcy in July 2015, but in Instagram photos posted in October he appeared with stacks of what look like dollar bills. Judge Ann Nevins told him to explain where they came from

Money never sleeps: The images and videos show 50 Cent with piles of 'money' all around his house. He has since submitted a written statement saying it was prop money used for photoshoots

Other creditors include SunTrust Bank who would receive $4.9 millions and Lastonia Leviston who won $7 million in a sex tape case against the star has settled on $6 million.

Earlier in the hearings, the rapper 50 Cent was ordered to appear in bankruptcy court in Connecticut to explain photos showing him with wads of cash.

The Judge told the rapper's lawyer that several photos posted on Instagram made her concerned about allegations 50 Cent wasn't being truthful about his finances. 

He has since declared that the fat stacks of cash he flaunted on Instagram were actually fake. 

The superstar posted up a series of photos and videos on the app showing himself surrounded by piles of money.

But the photos sparked the ire of Judge Nevins, who demanded to know exactly how the supposedly bankrupt megastar could get so much money.

Man with a plan: 50 Cent has a plan to satisfy some of the creditors in his bankruptcy case -- and it involves him forking over $23 million

'I'm concerned about allegations of nondisclosure and a lack of transparency in the case,' Judge Nevins said.

But in a written declaration, 50 Cent declared that the money was prop money used for photo shoots, and that he was just trying to maintain his 'brand.'

'Hip-hop culture is widely recognized as aspirational in nature,' the declaration read. 'The standard by which artists and fans engage is commonly tied to money, jewelry, products and advertising over social media. 

'Products and brands are now marketed through social media as an effective way to engage with consumers. 

'Just because I am sensitive to the needs of maintaining my brand does not mean that I am hiding assets or that I have lied on my filings in this Bankruptcy Case, neither of which is true.' 

Zero cents: 50 Cent, whose real name is Curtis James Jackson III (pictured taking the oath in New York in July 2015 during a sex tape lawsuit), says that he used the fake money to promote his 'brand'

Judge Nevins was concerned about three pictures on the rapper's Instagram account. 

The first showed a bottle of Effen Vodka, which Jackson is paid to endorse, in Jackson's fridge, surrounded by stacks of money. 

The second has Jackson spelling out the word 'BROKE' in $100 bills, and the third showing 50 Cent on his bed, covered in cash.

There is also a video showing Jackson getting cheese from his money-filled fridge before asking the camera, 'What?' 

Another video shows him pretending to wake up in bed, only to discover his legs are buried under a pile of notes.

The images were flagged by Lastonia Leviston, who won $7million in a sex-tape dispute with 50 Cent but hasn’t been able to collect that money because he says he is broke. 

The proceedings have been ongoing since July last year. 

Cold, hard cash: Another pic showed a fridge stuffed with 'money.' The images were flagged by Lastonia Leviston, who won $7million in the sex-tape dispute but cannot collect because 50 Cent says he is broke

In an appearance on Conan in July of last year, 50 Cent told host Conan O'Brien that he had filed for bankruptcy to protect his finances.

'Yeah, I need protection,' he said. 'You get a bull’s-eye painted on your back when you’re successful, and it’s public. You become the ideal person for lawsuits.'

'So this is a way to protect yourself from lawsuits,' O'Brien replied.

'It is,' the rapper said. 'Re-organize things.'