Nearly 15 years after she sang about the nights being so unkind, six-time Grammy Award-winner Toni Braxton says bankruptcy has “worked out really great” for her. The Wall Street Journal reported on November 9, 2011, that during the premiere episode of her reality television show’s second season, Braxton flew her sisters out to Los Angeles to see her new home after successfully discharging her from a number of debts in her Chapter 7 bankruptcy case. “So I’m starting over, and starting over can be a great thing,” Braxton said during the episode of “Braxton Family Values.”
Braxton first filed for bankruptcy in 1998 after a dispute over her recording contract, but it was when the singer found herself in need of foreclosure help with her house in the Century City area of Los Angeles in October 2009 that led to Braxton returning to bankruptcy court again in October 2010. In August 2011, Braxton struck a deal to ensure that she would be able to keep her Grammy Awards as well as her Tiffany jewelry and 1995 Porsche 911.
While you are more than likely nowhere near the $18.3 million in debts that Braxton claimed when filing for her second bankruptcy, the singer’s case can still serve as a reminder of how completing a bankruptcy means test will never leave you in a worse situation than before you filed. Just as her own attorneys found a way to let Braxton hang on to her six Grammys, our Chicago bankruptcy lawyer will work to help you retain your home, car or other items you fear will be taken by creditors. When you are concerned about losing property, those fears are some of the best reasons to file bankruptcy rather than being reasons not to.
Benjamin Brand Services – Chicago bankruptcy attorney