TLC member T-Boz has filed for bankruptcy for the second time in less than a year. According to documents filed last month in U.S. Bankruptcy Court, the singer owes creditors $768,642.99, mainly from mortgages on her $1.2 million house. She has filed for Chapter 13 bankruptcy protection, which enables people with regular income to create a plan to repay their debts. She entered a similar bankruptcy protection filing with the United States Bankruptcy Court of Northern District of Georgia in February, but it was dismissed the following month.
Though TLC have had ten Top 10 singles and four multi-platinum albums, the documents reveal that T-Boz only earns an average of $1,200 per month in royalties from those records. Nevertheless, her total assets are $1.716 million, she takes in around $11,700 per month in income, and her monthly expenses are $8,821.
Photos: Random Notes
The singer believes that she could have avoided bankruptcy if she had been able to collect $250,000 in child support from her ex-husband, Mack 10, and $22,500 in debts from Mark Jefferson.
To read the new issue of Rolling Stone online, plus the entire RS archive: Click Here
-
MOVIES 'Star Trek' Is Crazy Good
-
POLITICS No Price Big Banks Can't Fix
Picks From Around the Web
blog comments powered by Disqus
We may use your e-mail address to send you the newsletter and offers that may interest you, on behalf of Rolling Stone and its partners. For more information please read our Privacy Policy.
Most Popular
Photos & Videos
Random Notes: Hottest Rock Pictures
Gallery: Summer Tour Preview 2013











