Tough financial times don’t discriminate. Though consumers came out in record numbers for Black Friday 2011, much of the nation is still feeling the impact of a struggling economy, celebrities included.
Tionne “T-Boz” Watkins, who, according to documents obtained by TMZ, has been forced to file for bankruptcy. T-Boz, a founding member of legendary R&B group TLC, is said to owe creditors $768,642.99.
Rather than excessive spending and credit card debt, most of T-Boz's outstanding bills come from the mortgage on her $1.2 million home.
Despite the iconic girl group's legacy as one of the most successful acts of the last 20 years, with 10 top 10 singles and four multi-platinum albums, documents show that T-Boz only rakes in about $1,200 per month in royalties.
The documents also indicate that the singer is also owed up to $250,000 in child support. In 2000, she gave birth to a daughter with then-husband West Coast rapper Mack 10, but the two would separate four years later in a contentious divorce.
This is Watkin's second bout with bankruptcy. TLC famously filed for Chapter 11 back in 1995, shortly after the release of their breakthrough smash CrazySexyCool. At the time, group members were said to be making less than $35,000 per year, thanks to a contract that greatly favored their recording company, Laface Records. Following a long court battle the Grammy Award-winning trio was able to renegotiate their contract with Laface/Aritsa Records.
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(Photo: Vince Bucci/Fox/PictureGroup)