Toni Braxton Fails To Refute Spendthrift Claims

Toni Braxton

Bankrupt singer, Toni Braxton, who stars in the reality show "Braxton Family Values" tried but failed to dispute claims she is a spendthrift, in a recent interview with Black Enterprise magazine. Ironically, she contradicted herself, while trying to prove to the public she does not overspend.

Braxton stated to the decades old publication, "People were reporting things like I bought Gucci flatware. Yes, I treated myself, and it was only $500. If I bought 1000 count sheets, they were from TJ Maxx for about $49, so I wasn’t living extravagantly."

"Braxton Family Values" cast covers Kontrol magazine

However, she contradicted herself that same week, via a separate interview she gave HDNet, where Braxton stated, "I live well. But instead of having three houses like I had, it’s just not like that anymore." That's overspending, as no one needs three homes. That's a luxury, not a necessity.

Once again, one moment she states she shops at bargain store TJ Maxx, but in the next breath she reveals she had three homes. Her bankruptcy filing further reveals, she ran up massive debts at the Four Seasons, Neiman Marcus and Tiffanys, three high end luxury establishments.

"Braxton Family Values" publicity shot

Years ago, former Laface labelmate, Usher (Raymond), threw Braxton under the bus in an interview, where he stated of her, if you make one hundred dollars you don’t spend ninety-nine. He too indicated the root of her financial problems were due to overspending.

Hey, it’s Braxton’s money. She can spend it how she chooses. No one is trying to tell her how to conduct her financial affairs. But when one is a big spender, then files for bankruptcy twice, one cannot expect to be exempt from public criticism.

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Toni Braxton Files For Bankruptcy Again

This week it was announced, one time LaFace Records recording artist, Toni Braxton, has filed for bankruptcy again. Previously, she filed for Chapter 7 bankruptcy protection in 1998, after selling millions of records. She blamed her financial state on LaFace Records, which was owned by Kenneth "Babyface" Edmonds and Antonio "L.A." Reid and the low royalty rate they gave her. However, labelmate, Usher, commented at the time, Braxton simply spends too much money and it led to financial ruin. Both Braxton and Usher were right.

Braxton used her earnings to purchase a $1,000,000 Westwood condo, a $400,000 Atlanta mini-mansion, hundreds of thousands in designer clothes, shoes and jewelry, which she could have gotten for free for being famous, a $250,000 silver tea set, Faberge eggs, Gucci silver wear and a baby grand piano, among other things. The singer also owed lawyers and managers almost $3,000,000. With no available means to repay her debts, she filed for bankruptcy. Braxton was later schooled by talk show host, Oprah Winfrey, on how to manage her money. Well, it didn't work.

After being given a $10-$20 million dollar settlement from LaFace and restarting her career in the early 1990's, Braxton resumed her old spending habits. Fast-forward twelve years and she is in the same dire financial predicament once again. She is blaming her current financial woes on insurer, Lloyds of London, for failing to pay an insurance policy she purchased, in the event she fell ill, during a string of Las Vegas, Nevada shows, which went on for a few years.

However, Lloyd's refused to honor the claim, as she did not disclose she has a preexisting heart condition,, which could reoccur and it did, forcing Braxton to cancel a number of Las Vegas show dates. Irrespective of those claims, frivolous spending did play a role in her current financial decline. One look at the list of luxury creditors attached as apart of the bankruptcy filing, makes it abundantly clear. Braxton owes between $10 to $50 million dollars to a long list of creditors that include BMW, Tiffanys and the Four Seasons. Artists often make the mistake of believing their careers will always be hot and fail to plan for the time it is not.

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The two are staying at the Four Seasons resort and have been photographed happily canoodling along the beaches and walkways, enjoying wedded bliss...that is until they return to Los Angeles and the fact her career is in the toilet, after being fired from "Transformers" and his offers mostly contain television movies of the week. You're welcome. Always glad to be of service.

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Fox, at the height of her short lived fame, slammed the church, Christians she went to school with, her director, Michael Bay and just about everyone that tried to help her. She believed her own hype and in a matter of weeks, her career skidded into failure.

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After a secret relationship with Bay did not work out, due to Fox being in love with her boyfriend of 6-years, Green, things got really tense between the two and her resentment for the director began to show publicly in interviews, where she branded him "Hitler."

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Not a good idea to call a Jewish person Hitler, Megan. Furthermore, Hitler didn't make you rich and give you a career, where all you had to do was show up, let them slap make-up on you, then run from invisible robots. Bay did.

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Under the circumstances, you should have kept the disagreements private. Rebounding from being fired from a big franchise will not be easy and you have very poor taste in films, as evident by your two flops "Jennifer's Body" and "Jonah Hex."

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Fox was recently fired from the Transformers movie franchise and her latest release, Jonah Hex, which debuted this month, was one of the biggest comic book film flops in history. "Transformers" director, Michael Bay, will be crushed at the news, as he had feelings for Fox, prior to their big fight this year that basically derailed her career.