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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. 

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Look folks, spending money you don't have is not a black or white thing. EVERYONE one at onetime or another has written a check or laid down a card if the didnt have the cash. And Im not just talking about during trips to the mall, get over it. It's her life and her money so...

1422 days ago


And another thing, why are you people so mean? Calling her names is not going to help her or pay that $50 mill. But maybe it helps you guys feel better about your own lives!

1422 days ago


She knew what she was doing. At some point, she must have said to herself, "Oh no, I'm one million in debt". Then at another point she must have said, "Oh no, I'm five million dollars in debt". Howver, she just kept ignoring everything and spending. Normal people don't ignore these type of signs--especially successful people. Years from now, would you want give her a credit card if you worked at a bank? Would you give her any type of loan in the future? In life, you rarely get three chances. Sadly, someone will give her another chance.

1422 days ago


Hey Toni, come stay with me. I'm broke too. I live in a one-bedroom apartment, I drive a 2001 Toyota, I stay in Super-8 Motels, I cook my own food (I'll cook for you too).

What I don't have, however, is debt.

1422 days ago


Kevin, shake hands with JLS. You're both delusional.

1422 days ago


geez she owed everybody. how could she owe these people and they don't turn everything off and make you pay if you want it. how could you owe directv i had them and after two months of non payment you are off the roles. and wells fargo will make you take a cell phone in your casket so they can still keep calling you in the after life. i wish for 1 million so i can have a better life these people are wasting millions to keep trying to live like they did in the heyday and they all eventually file bankruptcy cause no one listens to them anymore. they are 10 years past their prime. they keep thinking one hit that puts them back on the top. all of them rap, country, soul,blues, jazz, acting actors reality tv all of them don't believe you are only as popular as your last song, movie, show and it doesn't carry over forever. look at nic cage what a nightmare, willie nelson, redd foxx, peebo bryson, aretha franklin, gladys knight, and many i don't know. talk about shifting wealth the really rich people look at these people and know eventually they will be giving it all back and eventually they do Mike Tyson anyone.

1422 days ago


How can you sell 40 million records + touring & endorsements & go bankrupt.....TWICE?

1422 days ago


OK the first time is understandable.. BUT TWO TIMES. What a trash loser. Look at the list. Very necessary to go to Tiffany's and 4 seasons and the **** in Vegas.. What a disgusting loser.. NO SYMPATHY. Sue the crap out of her.

1422 days ago


Again!!! Has his woman ever looked at her bank statement. Advice. If you can't afford it, don't buy it. Most of those things she has on there are luxuries(DirecTV, Neiman Marcus, Tiffany & Co, Air conditioning) It was not necessory for her to buy them.

1422 days ago


She needed to stop fronting because fronting don't pay the bills

1422 days ago


From this post, it seems that she doesn't even know how high the debt really is. Not to mention the tax lien. Between interest and penalties, that adds up very, very quickly.

1422 days ago


I don't know if I ever struck it rich the first thing I would do is put away enough money so I'd never have to work again, screw neiman and marcus & tiffanis, be thankful. She got a second chance too...

1422 days ago


Sympathy - not! I'm in the hole about 100K, and she's $30 mil down, but just my guess she won't be working at the checkout line at Wal-mart anytime soon, nor eating at McDonald's, nor living in a one bedroom crappy apartment, nor driving a ten year old clunker. In America, there's "broke" for the wealthy, and broke for the rest of us.

1422 days ago


She has sold 40 million albums, so for argument's sake, let's say she received $2 per album meaning she earned 80 million dollars and kept 40 million dollars after taxes, because the gub'ment always gets it's cut. That means she spent $40 million dollars in how many years?!?! I have no sympathy for this idiiot.

1422 days ago

So What    

Number One you are so far off track you can not see your Fu--ing ASS. Bush received a large sum when Clinton left office and only added 4 Billion to the 5 billion from Clinton. Obama the **** HEAD has put us in the hole with his spending more than all the President since Washington until now over 1.5 Trillion. You need to get some EDUCATION. What a dumb ****!

1422 days ago
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