R&B icon T-Boz had more than her fair share of financial problems during the heyday of her supergroup, TLC, but now it seems that the bad days have crept up on her finances, once again. T-Boz recently filed for bankruptcy after failing to make payments on her million-dollar home.
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