Toni Braxton

Toni Braxton

Toni Braxton has settled her bankruptcy debts.

The 'Un-Break My Heart' singer, who filed for insolvency for the second time in 2010, claiming she had debts as high as $50 million, has finally resolved all of her financial issues after reaching a deal to pay her trustee $150,000.

According to legal documents, obtained by gossip website TMZ.com, Toni, 45, got into trouble again after she struck a deal with the trustee to buy back some of the personal property she lost by paying back $5,000 per month over 15 months but she failed to make the final lump sum payment of $50,000.

The trustee and the singer finally came to an agreement this week that will see her pay back that $50,000.

Toni also agreed to hand over $100,000 from the $754,000 she made from performances overseas.

She originally argued that she was legally entitled to keep all of the money because the gigs took place after she filed for bankruptcy, but the trustee said the deal was inked with promoters beforehand and since the money was in escrow, Toni should have had to hand it over.

Both parties also agree that Toni can buy back the copyright of a number of her songs for $20,000 but they will still go to auction on July 15 and she can only have them for that price if she doesn't get outbid.

Toni, who first filed for bankruptcy in 1998, has sold more than 40 million albums since she shot to fame.

A judge is expected to sign off on the settlement later this month.


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