Tyga Has Paid Off a ‘Substantial’ Amount of His Jewelry Debt, Lawyers Confirm

Tyga — aka Kylie Jenner‘s other half — has paid off part of his nearly $280,000 debt owed to famed jeweler Jason of Beverly Hills, and plans to pay off the remainder by mid-month, attorneys for both parties confirm to PEOPLE.

“There has been substantial payment on the outstanding judgment and we expect for the balance to be paid before the next court date,” the rapper’s lawyer, Shawn Holley, Esq., of Santa Monica’s Kinsella Weitzman Iser Kump & Aldisert, tells PEOPLE.

Jason Arasheben filed a lawsuit against Tyga earlier this year for the jewelry — legal claims initially leveled against the actor in 2013. Earlier this month, the star participated in his debtors examination before cutting the sit-down short due to illness.

“Tyga did make significant payments towards his $280,000 obligation. Today, in court, a representation was made that the remaining balance of the obligation will be satisfied prior to next scheduled hearing on Nov. 17,” Arasheben’s lawyer Danny Abir of Abir, Cohen, Treyzon and Salo tells PEOPLE. “Our client is gratified that, notwithstanding a significant delay, Tyga is finally making good on his obligation.”

Further, Abir said that Tyga’s debtors exam wouldn’t be continued if he fulfilled his promise to pay off the debt by Nov. 17. Jenner — who was summoned for an examination under oath to testify to the source of funds used for gifts that the rapper has given her — will also no longer have to participate.

Arasheben’s lawsuit came shortly after Tyga settled his $480,000 suit against his former landlord. Arasheben claims that Tyga has owed him the money since 2012 — namely, $28,275 for a diamond pantheon watch, and a borrowed and unreturned $63,000 diamond Cuban link chain.

Tyga was ordered through a default judgement in Jan. 2014 to pay $208,334.47 to Arasheben — which he failed to do, resulting in the latest legal battle.

Tyga Owes in ‘Excess of $270K’ in Unpaid Bling – as Jeweler Hires New Legal Team to Collect the Money

King Gold Chains is being sued for, well, not paying for his gold chains.

After noting that Tyga finally settled his $480,000 lawsuit with his former landlord, jeweler Jason Arasheben of Jason of Beverly Hills now hopes to collect the money he says the rapper has owed him since 2012. And it’s not a coincidence he’s hired the same lawyers – Danny Abir and Boris Treyzon from Abir, Cohen, Treyzon and Salo – to get the job done.

The Beverly Hills jeweler claims Tyga (whose birth name is Michael Ray Stevenson) agreed to drop $28,275 for the jeweler’s diamond pantheon watch in August 2012, and that the rapper also borrowed and never returned a $63,000 diamond Cuban link chain in December of the same year.

When Arasheben first filed suit in 2013, he tried to collect $185,306.50 in costs and late fees. The total rose again in January 2014, when court papers obtained by PEOPLE show a judge entered a default judgment against Tyga, ordering him to pay $208,334.47. Tyga’s rep told TMZ at the time that the situation was “all a misunderstanding.”

However, the judgment has yet to be paid and more fees have accrued since, bringing the new total “in excess of $270,000” in damages, interest and attorney fees, Arasheben’s attorney Danny Abir tells PEOPLE.

“In the meantime, Mr. Stevenson gives away cars, jewelry and cash,” Abir adds. “We will question his source of funds – ‘Where’s the money, what are you spending it on, what are your assets, will you be able to pay up for all of this?'”

Last week, Tyga had a warrant out for his arrest regarding money he owed his landlord Gholamreza Rezai, but it was rescinded once Tyga ponied up the settlement money while on vacation in Turks and Caicos with girlfriend Kylie Jenner, where the pair celebrated her 19th birthday with friends.

“We are going to make a demand on him and, depending on how he responds, we will proceed that way,” Abir tells PEOPLE of the action they plan to take against Tyga.

“If he says, ‘Okay, let’s get the client paid,’ we do it quickly and, if not, we have to go through some of the same exact hoops as we did [with Rezai]. We are trying to resolve this privately, without resorting to enforcement mechanisms. If that fails, we will utilize all tools available to enforce our client’s rights.”

A rep for Tyga did not respond to request for comment.