“Braxton Family Values” star Towanda Braxton is drowning in debt and has filed for Chapter 7 bankruptcy, saying she only has $150 in her bank account and owes sister Tamar Braxton $35,000.
According to court documents obtained by The Blast, Towanda filed her case earlier this month, listing $277,650 in assets but $547,056.39 in liabilities.
She says her monthly income is $4,692 but her monthly expenses total $6,020, leaving her in the red.
Her assets include the new Georgia home she bought recently (worth about $275k), $1,500 in household goods, $1k in clothing and only $150 in her checking account … with zero in her savings.
Towanda’s debts include $417,715 to a mortgage company, $76k to her former landlord, $982 to Comcast, over a thousand to collection attorneys, $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.
She listed herself as self-employed at her T. Braxton Beauty Company.
The case is ongoing and her debt has yet to be wiped clean.
