Toni Braxton Talks Filing For Bankruptcy, “My First Check Was Less Than $2,000” [Video Exclusive]

» by Danielle Canada March 31, 2011, 9:58am

While speaking with the press about her upcoming reality show “Braxton Family Values”, Toni Braxton also spoke on filing for bankruptcy not once, but twice.

As previously reported, Braxton filed for bankruptcy in 2010 and was reportedly $50 million in debt after previously filing in 1998.

Not shy to talk about her money woes, a brave Toni told HipHopWired and fellow press that she was ready to share her story with the world.

“When I filed for bankruptcy, I was like ‘I can't do it, I don't wanna be on the show, I can't put my life out there' but my sisters told me you have to tell your story because no one knows what really happened…Everyone knows I have heart issues, but no one knows why I have heart issues....


So I reveal my health problems that led to my financial problems…”


She adds,

“Even with the first bankruptcy, no one knew that my first royalty check was less than $2,000 so that's why I filed for bankruptcy…I talk about that during the show.”


“Braxton Family Values” airs April 12 at 9pm ET/PT on WE tv, click here to see our exclusive with Toni and her sisters.

Comment Comments 14 Views Views Tags Tags: , , , , , , , , , , ,

14 Responses to “Toni Braxton Talks Filing For Bankruptcy, “My First Check Was Less Than $2,000” [Video Exclusive]”

I'm sorry she has health issues ...but she doesn't need a reality show to explain why she filed bankruptcy twice its self explainatory she was irresponsible with money and living beyond her means enuff said

» by anon 3/31/11, 11:42:am Profileview profile | Reply

    the HATERS r not paying attention.she had to file bankruptcy the se*****nd time, to protect herself from vendors after having to cancel her vegas show , and headlining concerts, because she invested some of her own money into her show, whichh would have been fine, if she did not have complications from Lupus and doctors telling her that she could die if continued!. and her first bankruptcy she had bad record deal, she sold 40 million albums and made $2000 as did TLC who also filed Bancruptcy..so be informed before judging

    » by emma 4/23/11, 17:03:pm Profileview profile | Reply

She needed to do the show in order to make money. Not only does she have health problems/medical bills (which for most Americans leads to bankruptcy), she also has a son who is austistic (I wouldn't wish that on any parent)-it is very costly getting them help, but she is also in an industry that has dried up. I don't think she lived beyond her means unless living beyond your means means taking care of yourself and family in the midst of illnesses.

» by Tia 3/31/11, 12:11:pm Profileview profile | Reply

@tia she was living beyond her means health issues, which do lead to debt but not two bankruptcies especially one where she was 50 million in debt. I myself have health issues and past surgeries so I should know. In another article related to one of bankruptcies it was a list of items claimed on said bunkruptcy and there was ish like cellphone bills, makeup bills, cable bills ...not just hospital bills. Where I'm from if you can't afford cable or a cellphone you don't have them and if you do its called LIVING BEYOND YOUR MEAN

» by anon 3/31/11, 12:24:pm Profileview profile | Reply

    You are a liar.  The debt from her last bankruptcy was from her Las Vegas show.  It had NOTHING to do with personal spending.  Las Vegas shows cost a lot of money to set up.  Lots of employees and equipment, lighting, etc.  After she got sick her insurance company denied her claim because she hid the fact that she had lupus.  She had to file for bankruptcy to prevent all the companies involved with her show from suing her.

    » by Bethany 2/18/12, 18:43:pm Profileview profile | Reply

Cell phone bills, cable and makeup are nothing in comparison to the on-going care of a child with autism. I've seen that first hand. Sure you can get rid of those bills, saving maybe $1,000-$2,000 but that is just a drop in the bucket. Or, you could rely on the state to give you some type of help with your child (which is more like babysitting) versus seeking out the best care possible to make that child's life more manageable into adulthood. That would save you a tremendous amount of money too. But I would think she chose to find the best possible resources for her child. And at any rate, where is her ex and what is his contribution?

» by Tia 3/31/11, 13:55:pm Profileview profile | Reply

I ve always loved Toni and wish her the best. but 50 million dollars, thats a bit much. Hopefully she will overcome.

» by currvalicous 3/31/11, 15:30:pm Profileview profile | Reply

Toni Braxton still found money to pay for her plastic surgeries! Her botox face doesn't look good. When Oprah interviewed her back in 1998, Oprah was shocked to hear she had Gucci silverware. Oprah stated that she didn't know that Gucci made silverware. Yes, Toni was living way beyond her means.

» by NYC Gal 3/31/11, 17:33:pm Profileview profile | Reply

Yeah, ain't much money in the music game these days, unless you touring hard and filling the seats even harder. But Toni came in the game back when there was money still to be made. However she walked away from Laface Records too early, with an ego and wasteful spending habits intact. Feel bad for her, but she might have to get a regular 9-5 with some insurance.

» by frankiestage 3/31/11, 19:19:pm Profileview profile | Reply

    That will never happen.  Toni Braxton is on tour right now in the US and still filling seats at upwards of $200/each.  Also, they love the hell out of Toni in eastern Europe.  That woman is far from being broke.  

    » by Nick 2/18/12, 18:49:pm Profileview profile | Reply

From my understanding, Toni filed bankruptcy the second time because she was being sued for not completing her show in Las Vegas. When she had to cancel the show due to her heart issues, the insurance company would not cover the loss (as they should've contractually) because they claimed her illness was pre-existing. That's American healthcare for you. So, the insurance wouldn't cover the losses from the show, and Toni was liable for it. THAT'S how she got $50 million dollars in debt...and anyone who knows bankruptcy know that if you're going to file, you put everything you possibly can in it! People find themselves in situations and they have to do what they have to do.

» by Jay 3/31/11, 21:52:pm Profileview profile | Reply

You made some good points there. I looked on the internet for the subject and found most people

will approve with your site.

» by Thomas Sabo Australia 4/1/11, 01:30:am Profileview profile | Reply

Gucci silverware?! That's very dumb

» by Tony 4/1/11, 10:05:am Profileview profile | Reply

It certainly is unfortunate that her health problems caused her to not fulfill that Vegas gig. That would definitely helped her out. Celine Dion has certainly racked up crazy amounts of cash doing Vegas.

» by pretty girl swagg 4/1/11, 15:20:pm Profileview profile | Reply