Toni Braxton Files Bankruptcy Again

Posted October 7, 2010 by J Matthew Cobb in News

Financial trouble is on Toni Braxton’s radar again. She’s facing a growing debt of $50 million in California’s bankruptcy courts.

When everything looked so promising for the sultry songstress – including a stint on the seventh season of Dancing With the Stars and with the 2010 release of Pulse, Toni Braxton is once again making headlines again with her $50 million debt in California bankruptcy courts.

According to TMZ, the star has a list of outstanding creditors including DMVs in two states, luxury companies like the Four Seasons Hotels and Tiffany & Co., Neiman Marcus and the Westin as well as utilities like the Nevada Power Co., DirecTV and AT&T.

Her court documents claim, with over 40 million albums sold, that she’s worth between $1 million and $1 million. In 2010, the IRS filed a $396,000 lien against her.

Braxton filed Chapter 7 protection once before in 1998 after launching a lawsuit against her former record label, LaFace Records. She maintained that her recording deal was far below other top-selling artists and that she was earning 35 cents per album. She recovered from the big fallout; returning to the stage with a Las Vegas show entitled Toni Braxton: Revealed and released two albums afterwards – including Libra and Pulse.

So what do you think? Do you think her spending habits is way beyond excess?

About the Author

J Matthew Cobb

Managing editor of HiFi Magazine


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