Twitter Speculates As to Why Toni Braxton Went Bankrupt

Toni Braxton is one of the most successful R&B artists of all-time. She rose to fame in the 90s with the release of her self-titled debut album which sold more than 10 million copies worldwide.  Throughout her career, Braxton has won six Grammy Awards , and been inducted to the Georgia Music Hall of Fame.  However, despite the massive amount of success Braxton has achieved, she not always received the financial compensation she deserved.  Since 1996, Braxton has been forced to file for bankruptcy twice.  During an interview she shared that shady record contracts often kept her in an endless cycle of debit.  She stated: “What happens is they give you advancement on the next record and then the next record…So you kind of stay in debt, in a sense.” Fortunately for Braxton, she has gotten back on her feet and her career seems to be headed in a positive direction.

Although it’s been nearly a decade since her last bankruptcy filing, Braxton’s fans are still very interested in the topic.  Here are tweets from fans discussing why Toni Braxton went bankrupt.

5.

Toni Braxton went bankrupt twice because of LA Reid & La Face.

— Drewmula (@DrewMula) October 23, 2013

A lot of people seem to share the opinion that LA Reid and La Face, Toni Braxton’s record label, had something to do with her going bankrupt.  However, Braxton continues to work with Kenneth ‘Babyface’ Edmonds, co-founder of LA Face, so there must not be any hard feelings.

4.

https://twitter.com/JustinColon/status/400869068183703552

This tweet, directed at Perri ‘Pebbles’ Reid, suggests that she is responsible for Toni Braxton’s bankruptcy.  Pebbles is also widely believed to be responsible for the Bankruptcy of the female R&B/hip hop group, TLC.

3.

Toni Braxton blamed her going bankrupt because she buys Gucci household items….Huh? So she's too good to shop at Walmart & Macy's

— KGtheDIVA (@KGtheDiva) December 6, 2012

If Gucci’s household items are as expensive as their bags and accessories, it’s not hard to believe that they could be responsible for sending someone into bankruptcy.  However, Braxton herself has shared that her addition to home ware played a part in her first bankruptcy filing.  With an addiction like that, shopping at Walmart and Macy’s probably wouldn’t have even been able to save her.

2.

https://twitter.com/Mosensei/status/430986628153483265

Cross-collateralization happens when the collateral for one loan is also used as collateral for another.

1.

Toni Braxton Went Bankrupt Because of Lupus http://goo.gl/fb/4vz6X

— rpgrecords (@rpgrecords) April 12, 2011

Although Toni Braxton does in fact have lupus, the illness probably had nothing to do with her filing for bankruptcy.

 (Photo by Ethan Miller/Getty Images for Harrah’s)

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