Toni Braxton Files For Bankruptcy, May Be $50 Million In Debt
R&B singer Toni Braxton is making headlines after filing for bankruptcy with an estimated $50 million in debt.
TMZ reports that Braxton has filed for Chapter 7 bankruptcy in California and in the court documents estimates that she’s worth $1 and $10 million but could have up to $50 million in debt.
In the documents Braxton lists creditors she believes she owes money including,
— The Four Seasons Hotels
— Cedars-Sinai Medical Center
— Various medical bills
— Neiman Marcus
— The William Morris Agency
— Tiffany & Co.
— Orkin Pest Control
— The Internal Revenue Service
— BMW Financial Services
TMZ also reports that Braxton owes money to the City of L.A. Parking Violations Bureau — and the DMV in both California and Nevada.
The singer previously filed for bankruptcy in 1998 and had a $396,000 lien filed against her by the IRS.