Famous Individuals Who Faced Bankruptcy or Homelessness

In a 2012 chat with ABC, Toni Braxton revealed her 1998 bankruptcy due to meager royalties from her record deal, earning under $2000. Despite indulging in luxuries, a second bankruptcy occurred in 2008 after canceling her Las Vegas shows for health reasons.

Toni Braxton bounced back from her second financial downfall, sharing on Braxton Family Values how bankruptcy ultimately benefited her. The court wiped clean most of her debts, letting her retain her assets, and she learned the importance of budgeting.