Financial stresses related to family law issues, like divorce and child support, can affect anyone. And while unpaid child support is not the only reason that the former lead singer of TLC filed for Chapter 13 bankruptcy, being owed $250,000 in back child support is most likely not helping her financial situation.
Recently Tionne "T-Boz" Watkins filed for Chapter 13 bankruptcy. This was her second time filing this year. Her last filing was dismissed in February.
When looking at what happened, it seems Watkins owes more than she can afford when it comes to her home, and not a lavish lifestyle. In fact, she reportedly owes more than $740,000 on a home that is worth approximately $1.2 million. Mortgage debt, coupled with $250,000 in back child support and just an average income of $11,700 a month income, have certainly made it hard for her to keep up with her bills.
And while many might be shocked to learn that the former member of a chart-topping group is struggling, the fact remains that of her $11,700 a month in average earnings, only $1,200 is attributed to royalties from her musical career with TLC.
According to the Chapter 13 filing, her liabilities total $768,642, while her combined assets are listed at $1.716 million.
Aside from being in the news for financial difficulties, Watkins is also known to have suffered from some serious medical problems in the past, including being diagnosed with a brain tumor and suffering from Sickle Cell Disease. And while the recent Chapter 13 filing does not mention any medical debt, those medical expenses very well could have contributed to her need to use most of her earnings on those bills.
Source: Atlanta Journal Constitution, "TLC's T-Boz files for bankruptcy protection again," Rodney Ho, Nov. 28, 2011
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