Toni Braxton Bankruptcy, Part 2: Up to $50 Million in DebtWendyM
Toni Braxton has filed for bankruptcy… again. Didn’t she learn anything the first time?
TMZ.com reports that Toni Braxton has between $10 million and $50 million of unpaid debt. Apparently paying the bills wasn’t a priority.
Toni Braxton has sold more than 40 million albums, has appeared on Broadway and headlined in Las Vegas, so it’s not like she’s a washed up celeb. So, where did all her money go?
Among the debts that Braxton needs to pay up for: The Four Seasons Hotel, Neiman Marcus, Tiffany & Co., BMW, and the Internal Revenue Service, not to mention the DMV in Nevada and California.
Here’s a tip: when you’re broke, skip Tiffany’s and Neiman Marcus, and stay at a more affordable hotel than the Four Seasons. C’mon!
Braxton estimates her net worth between $1 – $10 million clearly not enough to cover her level of debt.
Toni Braxton also filed for bankruptcy in 1998. Earlier this year, the IRS filed a lien against her for $396,000.
Do I smell a reality show or another Dancing with the Stars type gig around the corner for Toni? Celebrity yard sale? She needs the money!
Okay, celebrities, just because you’re famous, please remember you also have to live within your means! What lesson is she teaching her kids, Denham Cole Braxton-Lewis and Diesel Ky Braxton-Lewis?
What do you think about Toni Braxton filing for bankruptcy?