Toni Braxton Declares Bankruptcy Again

album-ultimate-toni-braxtonGrammy multi-awarded singer Toni Braxton has filed for bankruptcy, the second one in her career, declaring that she probably owe at most five times that of her assets.

Braxton, 42, has filed a Chapter 7 bankruptcy last week. It says that her assets range from 1 million to 10 million dollars while her debts are in the range of 10 million to 50 million dollars.

Access Hollywood reports that she has debts from the following businesses: AT&T, Verizon, Sprint, Tiffany & Co., The Four Seasons Hotels, DirecTV, Neiman Marcus, Orkin Pest Control, American Express, FedEx and The Internal Revenue Service.

“Toni Braxton and her Company, Liberty Entertainment filed Chapter 7 petitions following a prolonged health crisis that hindered her ability to work and perform,” said a statement from the camp of the singer.

Braxton has suffered from the serious heart condition of microvascular angina which forced her to stop working immediately in 2008. She had to cancel her sold-out shows in Las Vegas because of her health condition.

Braxton first filed for bankruptcy in 1998.