Grammy Award winning singer-songwriter Toni Braxton is not immune to financial problems. On January 22, 1998, the successful R&B artist filed for Chapter 7 bankruptcy in the U.S. Bankruptcy Court in Los Angeles. Braxton emerged from the Chapter 7 bankruptcy to record seven more albums and appear in two Broadway shows, one motion picture and one sitcom.
Check out our Celebrity Bankruptcy report to learn about other famous people who have filed for Chapter 7 bankruptcy. Some of them bounce back to become even more successful while others aren't so lucky.