Toni Braxton Files Bankruptcy: $50 Million Debt
Fresh off her performance in Bermuda last weekend, superstar singer Toni Braxton just filed for Chapter 7 bankruptcy in California, claiming she could have up to $50 million in debt.
Reports say the documents claim she is worth between $1 to $10 million, with possible debts up to $50 million
TMZ reports this morning that the documents show that Ms Braxton list creditors including AT&T, The Four Seasons Hotels, Neiman Marcus, Tiffany & Co, Orkin Pest Control, IRS, BMW Financial Services, City of L.A. Parking Violations Bureau and the DMV in both California and Nevada.
Ms. Braxton previously filed for bankruptcy in 1998, filing for Chapter 7 protection from a reported $3.9 million debt. All of her personal household possessions were tagged and marked for sale to pay off her creditors, including her prestigious awards.
Ms Braxton, along with other overseas guests and top local talent, performed at the Bermuda Music Festival last week, closing out the three-night event in a performance which earned rave reviews. A highlight of the final night was Bermuda’s own 11-year-old Malcolm Hollis singing an early ‘Happy Birthday’ to Ms Braxton, whose birthday is today.
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That’s what a week in Bermuda can do to the unprepared!
lol!!! its true!
See my comment on FB….
Poor Toni.
Poor Toni, i hope she can bounce back. She is a great musician, one of my favorites from jump. How much was her contract for the Bermuda music fest?