EXCLUSIVE
Tamar Braxton‘s learning the hard way lending money to family is not always wise … especially when they filed for bankruptcy.
Tamar’s older sister, Towanda, hit a rough patch … filing for Chapter 7 bankruptcy — that’s the serious kind. In the docs, you have to list your various debts — and that includes owing Tamar a cool $35k for a personal loan. And, to add to her problem, Towanda says she’s only bringing in an average of $4,692.50 in monthly income but estimates her monthly expenses at just over $6k.
And, it’s just the tip of the iceberg. According to docs … Towanda’s on the hook for $547,056.39 but only has $277,650 in assets. Doesn’t take a rocket scientist to see the math doesn’t add up in her favor.
No word if the bankruptcy will add to more drama in the sisters’ reality show “Braxton Family Values.” They seem to be at war a lot. Remember when Tamar blew up on Trina for getting engaged on what Tamar felt like was still her birthday celebration? That was a doozy.