According to TMZ, T-Boz filed documents at the U.S. Bankruptcy Court last month, showing that she has been unable to make mortgage payments on her $1.2 million home and now owes creditors $768,642.99.
But unlike other celebrities, whose money problems seem to stem from overspending, the documents show that T-Boz’s financial problems weren’t caused by exorbitant spending.
The singer takes in $11,700 a month and her expenses only amounted to $8,821. Though the Grammy-winning group TLC has netted ten top 10 singles and sold over 30 million albums throughout their career, the documents show that T-Boz only receives $1,200 a month in royalties from record sales.
T-Boz claims that the main source of her financial problems stems from unpaid child support amounting to $250,000. It’s not known whether her bankruptcy was also due in part to the medical expenses she incurred in 2006 while being treated for a potentially life-threatening brain tumor.
Hopefully, T-Boz can work her way back to financial stability and eventually be rid of her debt. Sadly, T-Boz joins a long list of celebs who’ve filed for bankruptcy. Here are seven other celebs who have done so. –nicholas robinson
