Toni Braxton Files For Chapter 7...Again
Fri, 08 Oct 2010 08:49:17
TMZ reports that often financially fucked singer Toni Braxton has filed for Chapter 7 bankruptcy for the second time. The six-time Grammy Award winner, who had a string of hits in the early '90s, owes between $10 million and $50 million against assets of under $10 million. Braxton is in debt to a variety of creditors ranging from the Four Seasons Hotel to American Express to Tiffany & Co. to Orkin Pest Control to Screen Actors Guild to DirecTV.
It appears that Braxton may have been living in the lap of luxury beyond her means. The singer also filed for bankruptcy in 1998 after splitting with her label. The IRS filed a lien against the singer for $396,000 earlier this year.
While Braxton hasn't had a hit in quite some time, she has sold 40 million records in her career, but apparently can't manage her money. Record sales aren't what they used to be, so it's not like Braxton can fire off some hits and sell some records to get out of the red and into the black on her ledger sheets!
Are you a Toni Braxton fan?