Lyfe Jennings Re-Recording Music Taylor Swift-Style, Claims Sony Owes Him $15M

Lyfe Jennings is claiming his old record label Sony Music owes him $15 million, and they're dragging their feet about paying him -- but he's focused on getting even by revamping his old songs!!!

The R&B vet caught up with TMZ Hip Hop at LAX on Thursday and he told us he's in for the good fight ... even as he knows the outcome isn't in his favor.

Lyfe says he signed a loopholed contract with Sony ahead of his 2004 debut album, where they were able to keep most of the profits for themselves because he didn't get in the black within the first 3 years!!!

Lyfe says his money is no match to fight Sony in court the way it needs to be ... so he's taking a page from Taylor Swift and re-recording his classics.

He's labeling the songs with "A.O.U." -- "Artist Owned Umbrella" -- to signify they've been touched up, starting with his biggest hit, "Must Be Nice," from the same debut album he never got paid from!!! 😫

Lyfe urges all newer artists to avoid the fate of him and Taylor, regardless of what carrots the record labels dangle in their faces.

Legacy acts have been singing the same tune this year. MC Lyte recently told us signing general records deals in these times doesn't make a lot of sense ... just cents on the dollar.