Post by Admin on Jul 24, 2019 11:03:40 GMT -4
"Braxton Family Values" star Towanda Braxton’s reality show paychecks may be seized to pay back her creditors as part of her ongoing bankruptcy.
According to court documents obtained by The Blast, the trustee presiding over Braxton’s Chapter 7 bankruptcy has revealed he is investigating “possible royalties from a reality show”.
The docs note the trustee wants to find out if Braxton is entitled to collect any residual checks for the six seasons of the WE tv show.
Braxton did not list any residuals from the reality show on her petition, which may be why the trustee wants to investigate whether she receives any. She did list her average monthly business income of $4,692.
The trustee has now added the contract for “Braxton Family Values” as one of Braxton’s assets, and he will inform the court of his findings once he finishes investigating the possible royalties.
As reported, Towanda Braxton filed for Chapter 7 bankruptcy last month, listing $277,650 in assets but $547,056.39 in liabilities.
She says her monthly income is $4,692 but expenses per month total $6,020, leaving her in the red.
Her assets include a 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.
Braxton's debt includes $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 and other debts.
She also listed a $35k debt owed to her sister Tamar Braxton, which was given as a personal loan.
Braxton recently completed an online class on personal financial management.
The reality star completed her class on May 18 and now is one step closer to having her $450k in debt wiped clean.
Her former landlord even sued Braxton accusing her of fraud and lying about her income and assets as part of her bankruptcy.
Both cases are still ongoing.
