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After Personal Bankruptcy Toni Braxton Buys $3 millon Home

After filing two personal bankruptcy twice, Toni Braxton has just purchased a $3 million home in the same neighborhood as Justin Bieber.

The home located in Calabasas, California is 5,323-sq-ft and includes four bedrooms and three bathrooms.

Braxton filed bankruptcy in 1998 and again in 2010.   In 1998 it was rumoured that she spend nealry $2.5 million on makeup, hair, and clothing.  In 2010, Ms. Braxton had debts reportedly totaling in excess $50 million including a lien filed by the IRS for $396,330.

Braxton recieved discharges under Chapter 7 following both of her previous bankruptcies.  Chapter 7 bankruptcy entitled her to a discharge of debts.  She claimed $1 million to $10 million in assets on her 2010 bankruptcy petition.  

Typically, Chapter 7 cases will conclude in roughly 60 days after your meeting with the Trustee.  Ms. Braxton sought to buy back assets from her estate and had disagreements with her trustee over monies that were part of the estate.  Her Chapter 7 took nearly two years to complete. 

Braxton currently is the star of WE TV's Braxton Family Values with her sister and mother.  Her Wikipedia page says she was born in Severn, MD and she lived iin Baltimore, MD.

If anything, Toni Braxton should be proof that personal bankruptcy does not inhibit your ability to start over a successful financial life. Call our office to schedule a free inital consultation.

Also remember to visit our Chapter 7 page or Chapter 13 for more information on personal bankruptcy.

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