Being a celebrity doesn’t guarantee riches as we can see from the many entertainers who continue to file for bankruptcy. T-Boz of TLC is the latest entertainer to file for bankruptcy according to TMZ. The singer owes over $740k, a debt related to the mortgage on her $1.2 million house. According to the court documents, her monthly expenses add up to about $8800 per month and she takes in $11,700 per month although she gets only $1200 per month in royalties. The four-time Grammy winning artist also has suffered from serious medical problems in recent years. She recently went public with her struggle with a brain tumor and we’re sure that has exhausted her medical bills along with her sickle cell disease.
Court docs also state that she’s owed $250,000 in child support payments from her ex-husband, rapper Mac 10.
This is the second time T-Boz has faced bankruptcy. In 1995, she and her TLC groupmates Chili and Left Eye, had to file for bankruptcy folliwng the highly succesful release of their album CrazyHotCool, which went on to sell 11 million albums. Essentially, all three group members were taking home less than $35,000 per year after paying off managers, producers and other artist-related expenses. They fought with their label LaFace Records and their manager Pebbles and eventually renogiated their contract and fired Pebbles. Under their former contract, the group only received 7% of revenues from album sales.
We hope that T-Boz can get through this trying time.
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