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Toni Braxton files for bankruptcy, may owe up to $50 million




Voice of the '90s Toni Braxton needs to un-break her bank account after filing for Chapter 7, claiming she owes anywhere from $10 million to $50 million to various debtors. You know it's bad when you can't estimate your bills to within the closest $40 million.

TMZ says Braxton, who turned 43 Thursday, insists she can't pay creditors, or even estimate how much she's worth, although she does offer a number between $1 million and $10 million. She says she thinks she owes money to services ranging from medical bills to the power company to the DMVs in California and Nevada. Don't forget ADT Security, Orkin Pest Control, DirecTV, American Express and AT&T, among others. Man, those iPhone data plans are expensive.

Braxton is hoping Chapter 7, in which some assets are protected while the rest are liquidated to pay creditors, will take care of her problems. But seeing as how she already filed before in 1998 and was hit with a $396,000 IRS lien earlier this year, it's really only delaying the inevitable trip to live on the poor farm. Somebody get her back on Dancing With the Stars, quick!

[Photo: Getty Images]


[Last modified: Thursday, October 7, 2010 1:17pm]


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