Toni Braxton Bankrupt Again, May Owe $50 Million

By PopEater Staff Posted Oct 7th 2010 12:45PM

R&B star Toni Braxton is in financial ruin again, and may owe up to $50 million in backbreaking debt from creditors across the country. The 43-year-old six-time Grammy winner filed for Chapter 7 bankruptcy in California and could owe $10 to $50 million, TMZ reports.

While Braxton claims in the report she's worth $1 to $10 million, she's in debt to large creditors like Wells Fargo Bank and The Four Seasons Hotels, while also owing large amounts of money to DMVs in California and Nevada.

Braxton also believes she owes money to entities ranging from Mesa Air Conditioning, the Screen Actors Guild and DirecTV.

Although Braxton is credited with selling over 40 million albums, her financial history is a mess. Back in 1998, she filed for bankruptcy as a result of $3.9 million debt and had to sell a lot of her personal possessions including her awards. Also, earlier this year the IRS slapped her with a lien for $396,000.

Tags: toni braxton

Comments

(17)

Thursday 07 October

By two4ac

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I know where she could pick up a few benji's...help a brotha out.

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By Koz

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How the hell do these people fall so far into debt. Maybe they should check their bank accounts themselfs.

By Tyrone

Cause when Obama wuz elected preznit, peepas thought he wud pay all ther beels

By Donna

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Toni has sold so many cds, she should be rolling in cash every day. It makes it tough to feel bad for someone who is obviously living way beyond her means, and has for many years.
This is her second time to file bankruptcy in twelve years.
She should be able to live in a huge home, with a nice car or two, and still have a life with out going broke.

By tootbuc1939

Someone help me out here. Am I supposed to feel sorry for her?

By valeskas

There is no excuse for that, the court should not allow her to go again for bankruptcy. If you do not make the money, don't try to spend what is no there. Shame on her and her waste.

By AMB

One hit doesn't make you that kind of money...nice try...start writing or Mc Donalds is hiring

Thursday 06 January

By Far Gone

Lulz

By Titangirl

well she needs to stop spending money. maybe she needs to sing again and make a new album. Do some concerts. Or do movies.

By Nico Toscani

She's probably wasting all her money trying to find magical "cures" for her son's autism.

By bstill

It's unfortunate if what Nico Toscani says that she is willing to do anything to help her son. She appears to have a heart of gold and I believe she does. As she has the voice of an angel. I'll pray for you Toni!

By tuffpaw

Nico never says anything nice on these boards. He's got issues.

By KingPinFails.com

50 Million, holy smokes, and the second time around....this is a financial responsibility Fail!

Friday 08 October

By Yasmin

People who file for bankruptcy twice should be placed under a conservatorship. Obviously they cannot manage their finances like a normal healthy adult. And while their at it, they should take some math and logic courses.

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