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Toni Braxton Files for Bankruptcy

Posted on Oct 7th 2010 11:00AM by Derek Evers
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Toni BraxtonJeffrey Mayer, WireImage

Toni Braxton has filed for bankruptcy, claiming she owes somewhere between $10 million and $50 million in unpaid debts.

According to TMZ, the singer, who has sold over 40 million albums to date, owes money all over the country, including what seems to be many service bills for things like telephone, DirecTV, and electricity. Among the creditors Braxton owes money to, are also music and film businesses such as The William Morris Agency and the Screen Actors Guild. Braxton also has various outstanding medical bills, and owes the IRS who put a lien on her earlier this year.

Toni Braxton just filed for Chapter 7 bankruptcy in California and claims that her worth is somewhere between $1-10 million, well below the $10-50 million she is believed to owe. This is the second time Toni Braxton has filed for bankruptcy, the first being back in 1998.

Watch Toni Braxton's video 'Un-Break My Heart' after the jump.



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6 Comments

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charlie

Should live within her means. She was past it a WHILE AGO but kept spending

October 08 2010 at 1:54 PM Report abuse rate up rate down Reply
Evelyn

There is NO EXCUSE for this. This is her SECOND bankruptcy. How could she not have learned the first time? You can't spend what you don't have. Maybe her opinion of herself is so high that she just can't imagine the life the rest of us live, and thinks she is entitled to luxury, elegance, grandeur and bling, but since she has already walked away from her extravagant debt once, she needs to move out, sell her house and find a way to repay all the people and companies she's bilked out of their money - or go to jail.

October 08 2010 at 1:34 PM Report abuse rate up rate down Reply
srgaz30

Well, if she needs a place to stay, my door is always open. All joking aside, it's an epidemic in America where people living beyond their means is common and luxuries are thought of as necessities. And celebreties are expected to live a lavish lifestyle for image purposes, so it is easy for them to fall into the trap.

October 08 2010 at 12:09 PM Report abuse rate up rate down Reply
Parissa

There is NO excuse, whatsoever, for the mess this young woman has made of her financial life! To earn the kind of money she has earned and to owe somewhere between 10 and 50 MILLION in debt? If I live to be a 1000 I'd never even generate that much in income! This is inexcusable! I, frankly, hope she does jail time over this! I don't believe in debtor's prison, but when someone diliberately creates this kind of financial chaose, they need to be held accountable! This simply proves that even if one is talented doesn't mean they are smart! I could say more, but what's the point!?

October 08 2010 at 11:00 AM Report abuse rate up rate down Reply
Mark

Up to 50 Millions in debt? How can one person run such a bill? I mean she is not the State of California. It's really tragic that such a talented lady as Miss Braxton, who has generated millions in her career, finds herself in such a mess. She's probably the victim of all the vultures in show business not to mention greedy family members and "friends." It has happened to other musical icons like Sammy Davis Jr., Florence Ballard of The Supremes and many others.

October 08 2010 at 8:22 AM Report abuse rate up rate down Reply
BILL

SADLY FOR HER, NOT US,
SHE WILL NOW HAVE TO LIVE WITH US IN THE HOOD.

October 08 2010 at 7:29 AM Report abuse rate up rate down Reply
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