After countless headaches and $150,000 later, Toni Braxton is finally free from being in bankruptcy. In 2010, the R&B songstress filed for bankruptcy for the second time, apparently with sky high debts up to $50,000.
Jazlana
According to the official documents regarding Braxton’s bankruptcy woes, Toni apparently made a deal with a trustee which would enable her to buy back some property she lost after filing. The document stated that Braxton agreed to make payments of $5,000 a month for a total of 15 months. However for the last payment, Braxton was supposed to pay a total of $50,000. She made every payment except for the last one.
Another case that Braxton has been dealing with involved $754,000 that she made doing performances overseas. Since the shows took place technically AFTER she filed for bankruptcy, she argued that legally, she should be able to keep the money she was getting paid to perform.
The trustee, however, was not letting Braxton slide. The trustee argued that Braxton was technically paid BEFORE she filed for bankruptcy, meaning she has to dish it all out.
Thankfully, Braxton and the trustee came to an understanding this week. The diva agreed to pay $50,000 that she owed for the property, along with another $100,000 for the performances she owed money for.
Moral of the story: WHEN YOU GET MONEY, DON’T BE DUMB & SAVE THAT SH*T.
