Toni Braxton's Bankruptcy Blues

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Toni Braxton's Bankruptcy Blues

Singer Toni Braxton, who has sold millions of albums, recently filed bankruptcy petitions in Los Angeles for herself and three of her companies (Lady Ashlee, Madame Ashlee, and Princess Ashlee). Toni's in the hole for at least $5 million, according to records obtained by The Smoking Gun's LA correspondent Samuel Bretzfield. Here's a few choice cuts from the pop diva's bankruptcy blues:

Pages 1-2: An unpaid $20,000 American Express tab

Pages 3-4: Now scraping by on $43,800 a month

Pages 5-6: Hands off: Toni's remaining assets

Pages 7-9: Credit where due: some Braxton debts