For the second time in her 18 year career, the “Unbreak My Heart” hitmaker is staring down the barrell of financial ruin after filing for Chapter 7 bankruptcy protection in California this month.
Toni, 43, went bankrupt in 1998, but managed to regroup her finances after the success of her 2000 album Secrets. However, a life-threatening heart condition that brought her popular show on the Las Vegas strip to an abrupt end has also depleted the singer’s finances — with some insiders suggesting that Braxton may owe approximately $50 million in debt. Braxton alleges that she’s unable to cover the costs because she’s only worth between $1 million and $10 million.
According to TMZ.com, some of the creditors believed to be owed massive sums by Toni are:
– 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
Braxton also claims she may owe money to the City of L.A. Parking Violations Bureau — and the DMV in both California and Nevada.
The mother-of-two — who is in the early stages of divorce with Mint Condition crooner Keri Lewis — is also facing foreclosure on her Los Angeles home and is the subject of an IRS tax lien for nearly $400,000.
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