The star of “Braxton Family Values” is in the middle of a Chapter 7 bankruptcy case, which she filed back in April. In documents obtained by The Blast at the time, her assets amounted to $277,650 against $547,056.39 in liabilities.
Additionally, Braxton has a total of $6,020 in expenses but only makes $4,692 each month. Among those she owes is sister Tamar Braxton, whom she owes $35,000. In total, she is $450,000 in debt.
However, Towanda’s filing reportedly has hit a snag after her former landlord Michael Wagoner has asked that the debt the star allegedly owes him not be removed as part of the bankruptcy case.
Wagoner alleges in documents also obtained by The Blast that she owes him $76,000 stemming from a judgment tied to a lawsuit concerning unpaid rent and damage made to the home she rented from him.
The filing alleges that Wagoner struck a deal in September 2018 that saw Towanda agreeing to make payments to settle her debt. Wagoner claims the singer only made one payment and has refused to make any others. He further claims that once he tried to collect what he owed from Towanda, that’s when she filed for bankruptcy.
Wagoner also alleges Towanda made substantial damages to the home she rented from him, which supposedly included knife holes in the garage doors and bedroom walls. He alleged she caused fire damage to the home as well.
Additionally, the landlord claims the star misrepresented the value of her property in her filing. Plus he said she did not disclose all her income and a complete list of assets.
As for what Wagoner is seeking, he wants punitive damages and hopes to have the total amount of debt owed to him not to be discharged.
As Towanda continues to make right the debt she owes, which on top of back rent and the debt to her sister includes $417,715 owed to a mortgage company for her Georgia home, $982 to Comcast and more than $1,000 to collections attorneys, she’s also made strides in upping her financial acumen.
In May, the star completed a required online class in personal financial management. The course instructs users on how they should properly manage their funds moving forward.