'11
Toni discusses declaring bankruptcy at 1:27
Singer Toni Braxton declared bankruptcy for the second time in October, listing debts from $10 to $50 million to multiple personal creditors including Neiman Marcus, Tiffanys, The IRS, BMW, and The Four Seasons Hotel. She also owed money to hospitals and for medical bills, and according to Toni that’s why she became bankrupt. In a new video in which she answers user-submitted questions to the Huffington Post, Toni said that her medical issues with Lupus led her to pull out of her Vegas tour, and that she declared bankruptcy so that business creditors “couldn’t come and sue me for the show that I couldn’t complete.”
Everyone talks about my financial issues. What they don’t know is that my health is what led to my financial troubles. Everyone talks ‘she spent her money.’ That’s so not true, I don’t think [people] understand the bankruptcy rules and the laws, it’s to protect you. So once I got ill and had to cancel my Vegas show, all my concerts I had to file bankruptcy so I would be an protected so everyone wouldn’t come and sue me for the show that I couldn’t complete.
Everyone says ‘Oh she spent all her money, she has to lower her spending habits. It’s so not true.
[From video on Huffington Post]
Many years ago I worked as a consultant for a company that declared bankruptcy and stiffed me out of over $5,000 that I really needed to make ends meet at the time. I understood that the company needed to declare bankruptcy to stay in business, but they screwed everyone including the lowly consultants who had already done work for them, not just the large creditors who could afford not to get paid. That’s the thing that gets me about “bankruptcy,” everyone gets stiffed. Toni did it twice, once 12 years ago and again last year. While I understand that she may have needed protection after her health affected her ability to work – does that mean she gets all her loans for jewelry, high end clothing, and her car forgiven too? Why was she getting those things on credit instead of paying for them with money she already had? (The luxury goods I mean, I understand getting a car loan, although she could have bought something outright with the type of money she makes.) She didn’t pay her parking tickets in multiple states for God’s sake. That’s not something that has to do with “business,” that’s a personal failure to take responsibility for her bills. I understand bankruptcy when people lose their jobs due to health issues, but this is a millionaire who did it twice and is blaming the second time on business reasons. Meanwhile she never could be bothered to put a $15 check in the mail for any of her parking tickets. I’m sorry that she has lupus along with her heart problems and had to go through all that though. She also has a son with autism, although she says he’s doing well and is in public school.
Toni is shown on 3/30/11 at a Lindt chocolate event for Autism Speaks. Credit: WENN



















































