Toni Braxton turns 43 today and filed for bankruptcy with nearly $50 million in debt.
From TMZ
Toni Braxton -- who sold more than 40 million albums in her career -- just filed for Chapter 7 bankruptcy in California ... and in the docs, the singer claims she's only worth somewhere between $1 mil and $10 mil ... but she could have up to $50 mil in debts.
In the docs, 43-year-old Braxton lists a ton of creditors to whom she thinks she may owe money ... including:
-- AT&T
-- The Four Seasons Hotels
-- Cedars-Sinai Medical Center
-- Various medical bills
-- DirecTV
-- Neiman Marcus
-- The William Morris Agency
-- Tiffany & Co.
-- Orkin Pest Control
-- The Internal Revenue Service
-- BMW Financial Services
-- ADT Security
-- American Express
-- Flamingo Las Vegas
-- Mesa Air Conditioning
-- Nevada Power Company
-- Screen Actors Guild
-- The Westin
-- Wells Fargo Bank
Braxton also claims she may owe money to the City of L.A. Parking Violations Bureau -- and the DMV in both California and Nevada.
Braxton has a storied history of financial problems -- she filed for bankruptcy back in 1998 ... and earlier this year, the IRS filed a lien against her for $396k.
11 comments:
If I owed Linda $50 million, and worth $500 million, I file for bankruptcy and stop Linda from getting her money. Bankruptcy don't always mean one is broke or poor. It sometimes mean you have, cleverly, - used legal loopholes and protected your money / assets from creditors, especially banks - to stop or delay them from getting their money. Its not a sin. Wealthy people use and abuse it all the time. I feel Toni Braxton is a "clever" woman. I feel she can bounce back financially in less than 18 months.
this is the SECOND bankruptcy for Toni Braxton, okay o make she dey play with fire!
@anonymous 8:25pm ...Very well said!!!
she is one very pretty lady. Linda if you want to give us dark skinned beauties, give us women that look as pretty as this.
The girl is smart. 2 bankruptcies in 15yrs. she knows what she is doing but personally she is losing respect. love her though.
Depressing. I hope she gets serious managing her accounts now after filing another bankruptcy. Luxurious lifestyle isn't an option either for she needs to strive hard for her two kids. Pray for her to never lose hope.
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Toni Braxon again; no wahala Guess she is up to the task
What a nice, thoughtful birthday gift to herself!
Someone needs to give me a lecture on this filing for bankruptcy thing abeg. I no understand am at all :-(
It is very shameful for a celebrity like Tony to file for bankruptcy. She wouldn't be credit worthy anymore that's for sure. The bad thing about bankruptcy charges is that it remains on your file for 10 years before you can remove it.
I never thought of her as someone who didn't pay her bills. In my opinion, it's VERY DISGRACEFUL.
I love Toni but I am disappointed in her in regards to this act of irresponsibility.
She needs to go back to the studio and make new albums, abeg o.
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