UPDATE: More bad news for Braxton. E! News has confirmed that in November 2012, the singer's Duluth, Ga., mansion she unsuccessfully has attempted to save from foreclosure has been placed on the auction block for $1.1 million.
File for bankruptcy once, shame on you. File for bankruptcy twice…well, shame on you again.
The fiscally responsible world has once again been given the opportunity to wag the collective finger (or, even better, toss the name of a good accountant) at Toni Braxton, who last month filed yet again for Chapter 7.
So how much, exactly, is Braxton in the hole for? Get this…
She doesn't even know. (Hey, at least she's taking this financial irresponsibility thing all the way.) But she does know that her debts fall somewhere between $10 million and $50 million.
Yes, she could be $50 million in debt. And since she's not exactly known for a flashy, extravagant, Diddyesque show of a lifestyle (her own personal worth tops out at $10 million, according to the documents), it begs the question how on Earth did she fall so deep into the red?
Let's just say, that must've been some termite problem.
The 43-year-old lists any number of creditors seeking repayment on her bankruptcy filing, and while there's the expected usual suspects (Wells Fargo Bank, the IRS, medical bills—she suffers from pericarditis and two years ago was hospitalized for an undisclosed condition), there are also some left-field companies looking for their money.
Orkin Pest Control, for one. The City of Los Angeles Parking Violations bureau, for another (remembering those alternate side of the street parking days can be a real bitch).
Also on the list: Tiffany & Co., Neiman Marcus, Screen Actors Guild, William Morris Agency, DirecTV, American Express, Nevada Power Company, ADT Security, Airport Concierge Servives, Atlantic Records, BMW Financial Services, The Westin, The Four Seasons Hotels and the Flamingo Las Vegas, where she headlined a five-nights-a-week show, Revealed, from 2006-08.
Her second round of troubles began earlier this year, when the IRS placed a lien against her for $396,000.
Braxton previously filed for bankruptcy back in 1998.
—Reporting by Claudia Rosenbaum
(Originally published on Oct. 7, 2010 at 11:04 a.m. PT)