Toni Braxton Settles Bankruptcy Case
Toni Braxton settled her bankruptcy case for a fraction of the money she owed.
The “Unbreak My Heart” singer reportedly filed for bankruptcy back in 2010 after her debt spiraled out of control. Reports suggest Braxton owed between $10 million and $50 million. This would be the second time the singer claimed she was bankrupt.
Court documents showed Braxton owed quite a bit of money to The Four Seasons Hotels, DirecTV, Neiman Marcus, Flaming Las Vegas, and BMW Financial Services.
All of these problems are now fading into the background. According to the Toronto Sun, Toni Braxton settled her bankruptcy case for approximately $150,000.
Over the past 15 months, the R&B singer spent a total of $50,000 to reacquire some of her personal belongings. Braxton is also hoping to buy the rights to some of her songs when the tunes go to auction later this month. This will reportedly cost the singer an additional $20,000.
TMZ reports that Toni Braxton also received a tidy sum of money for a handful of shows she recently performed overseas. The singer earned around $754,000 from these foreign appearances. Approximately $100,000 of this cash was used to settle her bankruptcy case.
Although a judge has yet to sign off on the settlement, it’s believed that Toni Braxton’s bankruptcy woes have finally come to an end. Hopefully the singer won’t travel down the same path a few years from now.
Unfortunately for Braxton, she ultimately lost her Georgia home as a result of her massive debt. The Inquisitr reported last year that the singer missed several payments between 2004 and 2010.
Braxton tried her best to save the $1.5 million mansion featured in the reality television series Braxton Family Values. The home ultimately sold for $1.1 million. The singer also lost her house in Nevada after filing for Chapter 7 protection.
What do you think about Toni Braxton settling her bankruptcy case for $150,000?