Friday, September 23, 2011

Toni Braxton $50 million

Toni Braxton $50 million
Toni Braxton $50 million. R&B star Toni Braxton is in financial ruin again, and may owe up to $50 million in backbreaking debt from creditors across the country. The 43-year-old six-time Grammy winner filed for Chapter 7 bankruptcy in California and could owe $10 to $50 million, TMZ reports.

While Braxton claims in the report she's worth $1 to $10 million, she's in debt to large creditors like Wells Fargo Bank and The Four Seasons Hotels, while also owing large amounts of money to DMVs in California and Nevada.

Braxton also believes she owes money to entities ranging from Mesa Air Conditioning, the Screen Actors Guild and DirecTV.

Although Braxton is credited with selling over 40 million albums, her financial history is a mess. Back in 1998, she filed for bankruptcy as a result of $3.9 million debt and had to sell a lot of her personal possessions including her awards. Also, earlier this year the IRS slapped her with a lien for $396,000.