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Toni Braxton

Bankrupt Again

May Owe $50 Mil

10/7/2010 10:45 AM PDT BY TMZ STAFF

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.

Toni Braxton bankruptcy.
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
-- ADT Security
-- American Express
-- Flamingo Las Vegas
-- Mesa Air Conditioning
-- Nevada Power Company
-- Screen Actors Guild
-- The Westin
-- Wells Fargo Bank



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. 

See also

224 COMMENTS

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46.

Sammy    

Crap...Kooky Klown is back. Wonder where he/she has been? Jail maybe?


Toni needs to see a good shrink to find out why she behaves like this. We all can't live like millionaires and I know she has had medical problems that may have kept her from working. Everybody needs to go back to the way people thought and lived 50-60... years ago when thrift was a virtue and debt was one of the worst things that could happen to somebody. People today have all bought into Madison Ave. bull**** and think the key to happiness is in the mall.

I remember my gradparents saved EVERYTHING...rubber bands, used envelopes to write shopping lists on and things like that. These people lived through the Depression and WWII when food, tires and gas were rationed. They learned to do without, a lesson we can all learn from today in these economic times.

1388 days ago
47.

hugh    

U folks are trash, going after her for her financial problems.

She is bankrupt, and has personal problems. OK ? Show some class it can happen and I hope it happens to some of you heartless morons that want to pile on.

TONI Your music was beautiful, I hope you and your child can overcome your difficulties.

Yes a LOT of people mis-manage their money. In our modern times with financial predators its surprising more people do not go bankrupt. People like to say 'oh she should get an accountant or money manager' . How do you know she didnt have one ? Bernie Madoff come to mind anyone?

1388 days ago
48.

Rob    

I think everyone might not recall that she had major heart problems and had to under go heart surgery that was probably very expensive. As a result, she was not able to work for years. I can imagine that the medical bills from that experience was millions of dollars. It just goes to show that even the seemingly rich can be devastated by high medical bills

1388 days ago
49.

rene    

she also had heart problems, (sickness) and a child with problems.

1388 days ago
50.

Fredo    

Looks like she needs to find another NBA'er to bang.....

1388 days ago
51.

njneere    

BFD- sound investing, and not wasting her money on stupid useless stuff and living within her means could have saved her.

That being said-boo friggin hoo.

1388 days ago
52.

SoThere    

JLS...another Obama loving lemming. Have some kool aid and
then let's all jump off the cliff.

1388 days ago
53.

BallaBlocka    

Toni, come back to Maryland! Come back to Severna Park! You can always come back home and start over, boo.....

1388 days ago
54.

who farted    

STOP SHOPPING TONI. YOU ARE OUT OF MONEY.

1388 days ago
55.

EffingBored    

Skanks like this are the reason the rest of us pay so much for stuff in this country. They use their celebrity to buy everything they want then go bankrupt after living the high life. Twice? She should be in jail. Go to hell you stupid has-been.

1388 days ago
56.

mousetrap    

JLS---Bush and Cheney have nothing to do with her situation. She already had a ton of money and hyperinflation hasn't even hit yet (which will most definitely and unquestionably be Obama's fault). And I won't stoop to calling her stupid. She probably has at least average intelligence like most people out and crawling and slithering around today. More ignorant. The problem with these rags to riches celebs is that they are not very savvy when it come to handling money. They get a whole lot of money and start throwing it up in the air. 10 million dollar house or two, very expensive cars, very expensive jewelry, clothes, trips, etc. They got green and the start throwin' it up in da air!! They don't sit down and say, "Ok, I got X number of dollars. I'm in an unpredictable industry where it is very uncertain whether or not I will make much more money. About how much are the taxes going to be on this house over a lifetime. What are the overhead cost going to be over a lifetime. What are my investments doing. Is Uncle Same being paid. Do I have plenty of savings and padding for fallbacks". No, they just get the dollars and run wild.

1388 days ago
57.

Fredo    

Don't worry Toni, I'm sure Obama will come up with a stimulus plan for you.

1388 days ago
58.

HARRY NIPPLES    

Typical ghetto-like mentality about fiscal responsibility: spend way more than you can pay for and when you can't pay anymore expect it to just be given to you. It goes back to slave-dependency on a Master; a phenomenon which still exists hereditarily and culturally 150 years later. In the banking world we call it "[n-word]-rich." Obama has the same problem handling the national treasury... or what WAS the national treasury.

1388 days ago
59.

Sam    

Very sad.

1388 days ago
60.

Marcus R    

Tons of dumb*** post like #3. How the heck are the tax payers on the hook for this? Explain it idiot.

1388 days ago
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