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Toni Braxton Bankruptcy Blues

By Christopher Lee November 1, 2012 | Posted in

Celebrities often have to take the hard road when it comes to being under public scrutiny for their actions. After R&B singer Toni Braxton filed for bankruptcy protection earlier this year, she is now being cast in ill light over allegations of bankruptcy fraud.

Learning The Hard Way

After suffering financial trouble for years, Toni Braxton filed for bankruptcy earlier this year. While waiting to receive relief from her debt obligations, Braxton was given some bad news; she is being investigated for alleged bankruptcy fraud.

It is reported that she gave $53,490 to her estranged husband. The bankruptcy trustee overseeing her case has viewed this as transferring of assets, a big no-no in the bankruptcy world. Apparently, the money was earmarked for repayments to creditors, but was given to her former husband instead. The trustee is now suing Braxton to get the money back so it can be used to pay creditors as intended.

Braxton’s representative says that, “all of the payments made to Lewis prior to Toni’s bankruptcy filing were appropriate transfers for reasonable and necessary personal and business expenses in the ordinary course of her business.”

 



Which of the following has happened to you RECENTLY?(select all that apply)

  • Creditor Harassment
  • Disability or Illness
  • Divorce
  • Foreclosure
  • Lawsuits of Judgments
  • License Suspension
  • Loss of Income
  • Loss of Job
  • Repossession
  • None of the above
  • Other



 Est. Total Debt

$

What to do now? : Simply add up ALL of your total debt from the items on the left( estimated is fine) and enter the total in this box. Then click NEXT.

 


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