toni-braxton-bet

 

It’s a new day for Toni Braxton and it’s looking good.

 

Despite having to battle health and past financial issues, she’s finally shedding some of the negative aspects of her life and stepping into a new direction.  We’ve all heard the story about the multi-million debt she incurred for not making the best financial choices throughout her career. Well, recently it is being reported that she’s pretty much all clear.

 

As TMZ first reported, Braxton filed for bankruptcy (for the second time) back in 2010, claiming debts as high as $50,000,000. Yikes.

 

According to docs filed in the bankruptcy, Braxton made a deal with the trustee to buy back some of the personal property she lost. The deal was for Braxton to pay $5,000/month for 15 months with the last payment being $50,000. Braxton made all the payments … except for that last one.

 

The other part of the case hanging over Braxton’s head was the issue of $754,000 Braxton made for overseas performances. The shows took place AFTER Braxton filed for bankruptcy, so she argued that she was legally entitled to keep the money earned from these performances.

 

However, the trustee argued since Braxton was technically paid before the Chapter 7 filing (the money was put in escrow before the shows, she didn’t get it til after) she should have to fork it over.

 

The trustee and Braxton finally came to an agreement this week — Braxton agreed to pay the $50,000 she owed for the property and $100,000 from the performances.

 

Lastly … Braxton and the trustee came to an agreement that she could buy back the copyright on a slew of her songs for a cool $20,000. They go to auction on July 15 and they’re hers, assuming she doesn’t get outbid.

 

 

This is great news! With this tremendous weight lifted off her shoulders, Toni’s life can be less stressful.  Thank God the trustee was willing to negotiate with her and not be harsh. Kudos to her for making it through this.

 

 

babyface-toni-braxton

 

In more exciting Toni Braxton news, the oh-so talented singer changed her mind and is returning to the music game. She recently announced that she is working on a new album and has enlisted the help of old friend, Kenny “Babyface” Edmonds.   The two will work on the project together and use their past relationship experiences to help construct an awesome album.  Remember, it was Babyface and L.A. Reid who produced her first three albums which, in total, went on to sell approx. 15 million albums worldwide. So, the fans should expect to hear some great ballads on this project.

 

Braxton will kick off a tour on August 9 in Las Vegas in conjunction with promo for the new album.  The album is slated for a September release.