Thursday, October 7, 2010

Toni Braxton Files For Bankruptcy -- Again!

Six months after the IRS filed a $396,330 lien against Toni Braxton and husband Keirston Lewis for unpaid 2007 and 2008 taxes, the singer has filed for Chapter 7 bankruptcy. The file-ation went down on Sept. 30 in California. Toni says she has $1 million to $10 million in assets and between $10 million to $50 million in liabilities -- including tax debts owed in California, Maryland, Las Vegas, Washington, D.C., Georgia, Illinois, New York, New Jersey, North Carolina, Oklahoma, Pennsylvania, Rhode Island, Tennessee, Utah, Virginia, Wisconsin and to the IRS, according to the Chicago-Sun Times. The bankruptcy filing, which you can read below, includes 55 pages of people who will not get paid. Aside from the taxes, she owes her record companies, agents and pretty much every! single! company! or entity you can think of plus her sisters Tamar, Trina and Towanda! Girl, it's time you live within your means and stop with negrodian expenditures. (Sidebar: Back in 1998, Toni filed for bankruptcy. At that time she was $5 million in the red and was living an a paltry $43,800 a month. She blamed her business managers and record company for paying her low royalties for her music.)

Update: Toni's attorney, Debra Grassgreen, said the cancellation of Toni's Las Vegas shows in 2008, due to chest pains that were later diagnosed as microvascular angina, left the singer in a financial bind and unable to pay her bills. Side eye.

"This was a very difficult decision for Ms. Braxton. However, after months of trying to work out an acceptable arrangement with her principal creditors, she determined that the only way to assure that she could meet her tax obligations and provide for her two small children was to commence these bankruptcy cases," the attorney said.

Tsk. Tsk.
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