Last year former Grammy winner Toni Braxton was as much as $50 million in debt. She owed money to everyone from Wells Fargo Bank to the Four Seasons, and ended up filing Chapter 7 Bankruptcy. So just how does the diva who was once on the top of the world come tumbling down so harshly? Braxton says it was pride that led to her financial demise.
The problems started when she had to cancel some shows due to a disease from which she was suffering that she didn't want to discuss -- lupus. On The Wendy Williams Show yesterday, she explained:
When you file bankruptcy the bank can take everything ... Before I filed ... I tried to work out a deal with everyone. No one wanted to work out a deal. They said, "It was 2008 when the market crashed, or whatever." They were like, "Oh, she can work." But I didn't want to tell people I had lupus ...
Seems like it would have been a lot easier if she had just told them. Also, while I know how debilitating lupus can be, she's the one who racked up the bills -- $50 million! I'm trying not to judge, but if it were medical bills on her tab instead of the Four Seasons, it might be easier to muster up some sympathy.
While she still owes some money -- around $500,000 now -- it doesn't sound like bankruptcy has hit her too hard.
I live well. But instead of having three houses like I had, it's just not like that anymore.
Poor thing, to be deprived of three houses. Also, as we saw on her show Braxton Family Values, which premiered last night, she and her family don't appear to be hurting too bad as we see them flying around on private jets talking about naming babies LV so they can dress them all in Louis Vuitton. So yeah, it's difficult to feel too sorry for her when it comes to financial woes.
As for the lupus, she told Entertainment Tonight that she still struggles with it, but at the moment she's doing well.
Today is a good day. I have good days and bad days. But today is a great day, if you ever see me a little chunky, it's because of all the steroids, all the shots and things and my medications. But today's a great day, I'm a little thinner today, I fit into this fabulous dress, so I feel really good.
In any case, it's good to see Braxton back on her feet. Hopefully between the new show and a possible spread in Playboy, she'll be back on top of her finances soon.
Did you watch Braxton Family Values? Will you?
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