Toni Braxton Finally Settles Bankruptcy Case
Three years after filing for Chapter 7 bankruptcy for the second time, Toni Braxton has finally settled her case with the courts.
In the original paperwork, the R&B singer is allegedly only worth between $1 to $10 million, but Braxton claimed she racked up an estimated $50 million in debt across the country.
The ‘Un-Break My Heart’ diva made a deal with a trustee to buy back some of the property she lost, reportedly by paying $5,000 per month for 15 months and a final $50,000 payment. She made all of the payments, but skipped out on the final lump sum.
Braxton also fought hard to keep the $754,000 she made from touring overseas, by claiming that she was legally entitled to keep all of the dough because she raked it in after filing.
The courts ordered her to pay the final 50 grand to get her property back and $100,000 from the money made from the performances in order to wipe her debt slate clean.
A $150,000 payment to get out of owing 50 million? Toni is not complaining.