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Friday, October 8, 2010

Toni Braxton files for bankruptcy again, Owes Up To $50 Million

Singer Toni Braxton is now in deep hole of debt as she filed for Chapter 7 bankruptcy in California again!

Even though she has sold 40 million records worldwide, the 43 year-old claims in her document that she is only worth somewhere between $1 million and $10 million and now she's facing between $10 million and $50 million in unpaid debts.

Braxton has listed numerous creditors to whom she thinks she may owe money like AT&T, The Four Seasons Hotels, Cedars-Sinai Medical Center, DirecTV, Neiman Marcus, The William Morris Agency, Tiffany & Co., The Internal Revenue Service, BMW Financial Services, ADT Security, American Express, Flamingo Las Vegas and many more...

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 previously filed for bankruptcy in 1998 and last March, she is facing a $400,000 federal tax lien.

Toni failed to get the proper guidance in her financial expenses and now she doesn’t have the money to cover her unpaid debts.

[Photo courtesy by Bauer Griffin]

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