R&B legend Toni Braxton has experienced more than her fair share of public embarrassment over her highly publicized bankruptcy last year. Amid speculation that her financial woes were due to overspending, Braxton set the record straight for popeater.com and explained that her health issues caused her financial issues.
During a recent visit to Rob Shuter’s HDNet show “Naughty But Nice,” Braxton briefly discussed the many rumors revolving her financial woes and the toll her health problems have taken on her bank account.
“Well, everyone always associates me with financial issues and that’s the case again. So everyone’s telling their story instead of me telling you what really happened. So I’m very candid,” explained Braxton. “I had health issues that led to my financial issues. And my issues weren’t necessarily me personally, financially. It was me, business.”
Braxton’s health problems began in 2007 when she had a benign lump removed from her breast. In 2008, she was hospitalized and diagnosed with microvascular angina.
Last October, Braxton filed for Chapter 7 bankruptcy and according to official documents, the singer owed as much as $50 million to various creditors including Wells Fargo Bank and The Four Seasons Hotel.
According to Braxton, her new reality show,”Braxton Family Values” will show the pop star leading a downsized life.
“Well, I was very fortunate. I lived well,” she admits. “But instead of having three houses like I had, it’s just not like that anymore.”
