Toni Braxton Bankrupt Again: $50 Million in Debt

By AAyles on October 7th, 2010

This is inexcusable.

Famous singer Toni Braxton is filing for Chapter 7 bankruptcy, claiming she thinks she may owe over $50 million in total to several different companies.

The singer, who has sold more than 40 million albums in her career, reveals that she’s worth between $1 million and $10 million but can’t afford to pay off all the companies she owes money to.

Some of the companies in question include The Four Seasons Hotels, Neiman Marcus, Tiffany & Co., and BMW financial.

The 43-year-old also says she may owe cash to the DMV in California and Nevada and possible the City of LA for parking violations.

Over the course of her career (and even now, at her lowest point) Toni has made more money than most of us will see in a lifetime.

Failure to pay medical bills, parking tickets, hotel bills and lavish jewelry should not be rewarded with a clean slate – again. That’s right, this is not the first time the former celeb has filed for bankruptcy. In 1998 Toni declared bankruptcy and all of the debt she accumulated from overspending magically disappeared.

Here’s an idea Toni: Why don’t you spend a little less on diamonds, prestigious hotels and designer clothing and a little more on an accountant or a financial advisor.

My 8-year-old nephew has a better grip on handling money than you.

Britney Spears can’t regain control of her finances but this self-absorbed idiot is allowed to file for bankruptcy twice in the course of 12 years?

Can someone explain the logic here?