'Braxton Family Values' star Towanda Braxton has reportedly filed for bankruptcy and claims that she only has $150 in her bank account.
According to court documents obtained by The Blast, Towanda filed her case last month, listing $277,650 in assets but $547,056.39 in liabilities. According to the outlet, Towanda states that her monthly income is $4,692 but her monthly expenses total $6,020.
Towanda’s debts include $417,715 to a mortgage company, $76k to her former landlord, $982 to Comcast, over a $1000 to collection attorneys. Her debts also include $8,480 to Covenant Christian Academy, $6,211.30 in medical bills, $35,000 to her sister Tamar (who gave her a personal loan) and various other debts.
If her claim for bankruptcy is approved, all of Towanda's debts may be wiped clean and she would have a fresh new start. Her sister, Toni Braxton, his filed for bankruptcy on numerous occasions. Sometimes, it's just the best business move.