Toni Braxton is millions in debt and filing for bankruptcy again

Singer Toni Braxton, 43, is filing for bankruptcy for the second time, listing debts that range from $10 to $50 million. That’s a huge range which just shows how little grasp she has on her finances. Braxton first filed for bankruptcy in 1998, and told Oprah at the time that it was the fault of her managers and money-handlers along with the fact that she was being paid low royalties for her chart topping music. I wonder whose fault it is this time. Here’s TMZ’s report on Braxton’s money problems:

Toni Braxton has filed for bankruptcy again — claiming she owes somewhere between $10 million and $50 million in unpaid debts all over the country … including DMVs in TWO different states.

Braxton — who sold more than 40 million albums in her career — just filed for Chapter 7 bankruptcy in California … and in the docs, the singer claims she’s only worth somewhere between $1 mil and $10 mil … but she could have up to $50 mil in debts.

In the docs, 43-year-old Braxton lists a ton of creditors to whom she thinks she may owe money… including:

— AT&T
— The Four Seasons Hotels
— Cedars-Sinai Medical Center
— Various medical bills
— DirecTV
— Neiman Marcus
— The William Morris Agency
— Tiffany & Co.
— Orkin Pest Control
— The Internal Revenue Service
— BMW Financial Services

Braxton also claims she may owe money to the City of L.A. Parking Violations Bureau — and the DMV in both California and Nevada.

Braxton has a storied history of financial problems — she filed for bankruptcy back in 1998 … and earlier this year, the IRS filed a lien against her for $396k.

[From TMZ]

I get that she could have been overextended 12 years ago when she was relatively new to fame and letting other people deal with her finances. It’s over ten years later, though, and she had plenty of time to scale down and get on top of things with people she trusts to help her out. How do people rack up that much debt, particularly in unpaid parking tickets that are right there on their windshield every time, and not realize what’s going on? Do they just ignore bills entirely? There’s a kind of willful ignorance in it, along with some deep issues with money. I learned a lot from Suze Ormon’s books in terms of handling money and not letting your emotions get in the way. I still freak out a little when I have to do my taxes and I understand the urge to ignore it, although guilt would never let me do that. Toni has obvious money issues. There are much worse things, particularly when you’re living that kind of lavish lifestyle. When you’re bringing in millions you can hire someone to help balance your damn books.

Toni is shown on 5/8/10 and 11/21/09. It looks like she spent a lot of that money at the plastic surgeon’s office.

Photo credit: Fame Pictures



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20 Responses to “Toni Braxton is millions in debt and filing for bankruptcy again”

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  1. jen says:

    I didn’t think you could file twice. What a swindling thief she is!

  2. Gemini says:

    I don’t see any plastic surgery work.

  3. elina says:

    what happened to her face? geez.

  4. dorothy says:

    Sounds like she lives way above her means. Also like she needs a financial “guardian” for her money. Got to agree with Jen, she’s a theif.

  5. Johnny Depp's Girl says:

    How is all this fair? We get into debt and pay hell for it.. A Celebrity goes into debt and all of a sudden, either someone bails them out or bankruptcy. I cant even afford bankruptcy!

  6. SammyHammy says:

    What’s up with that idiotic finger-in-the-mouth pose? She is a bit old to be trying to pull off the ingenue look, even if she is plasticized all to hell.

  7. sickofit says:

    im interested in the book you are talking about, trying to have a better way with my money too for some time.
    *cough but first i have to go and buy some new furniture from ik.a tonight cough*

  8. suki says:

    It’s a shame. I really loved that album she had in the 90’s, but I think that she must have some other kind of drama going on besides just money. She had a Las Vegas show a couple of years ago and quit after taking a long hiatus due to some mysterious health issues.

    It’ll be interesting to see if they even let the chapter 7 go through. The bankruptcy laws have changed since the last time she declared. I would be willing to bet some of her creditors fight to block it.

  9. Jo 'Mama' Besser says:

    What a fool.

  10. Lila says:

    Toni had her tits done, but that’s about it. This woman will never learn. She’s obsessed with a lifestyle she’ll never be able to afford. I remember her Oprah interview with her rambling on about Gucci
    silverware. Really? And then her interview with Essence after she married Kerry Lewis talking about how she scales down her spending by shopping at Kay jewelers instead of Tiffany’s. Please.

  11. Leticia says:

    Lots of Americans feel entitled to a certain lifestyle, whether they can afford it or not. I see this all the time in my own family. It makes me feel so ashamed. Designer crap is a luxury, not an entitlement.

  12. bluhare says:

    The idiots here are the companies who let her have huge credit lines after she’d already filed bankruptcy.

    The moron is her. Apparently she’s never heard of accountants, business managers or financial advisors.

    I believe some of it is medical bills for her son, and that is understandable, but if she hadn’t frittered away the rest they wouldn’t be an issue.

  13. Twez says:

    Toni needs a conservator as much as Britney ever did.

  14. ~M. says:

    How many times she can file for bankruptcy?!

  15. Ron says:

    You can file bankruptcy every 7 years if you really want to but it’s a miserable thing to do. I think it’s quite obvious she’s a shopaholic and has no ability to handle her finanaces. Millions of dollars sent into bankruptcy twice, there should be some sort of penalty for this sort of thing.

  16. Faye says:

    Has she even done anything lately?

  17. kelbear says:

    I graduated from the same high school she did and some of the teachers say she was more on the bitchier side most of the time.

  18. Jo 'Mama' Besser says:


    I was thinking the same thing. Credit cars, morgages–all of the things that bankruptcy ostensibly refuses to grant afterwards were given to her. And yet…

  19. Heather says:

    Seriosuly? Again?!

  20. truthzbetta says:

    Not excusing it, no excuse for ripping car dealers, shop owners and other people off for millions upon millions of dollars twice. She has shopaholic entitlement indeed.

    But in terms of personal health drama I remember that had to do with her having an autistic son. Girlfriend was visibly destroyed and at wits end about learning her child is basically not going to be normal for life. I mean, aside from Jenny McCarthy’s son nobody else in medical history was ever cured from that by magical vitamins so it’s a life sentence. Not easy on moms.