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T-Boz files for bankruptcy protection

29.11.11

This is not crazy, sexy or cool: Tionne “T-Boz” Watkins of Atlanta’s TLC last month filed for bankruptcy protection for a second time in less than a year.

Watkins, 41, entered a similar bankruptcy protection filing with the United States Bankruptcy Court of Northern District of Georgia in February. It was dismissed the next month.

Her attorney Peter Bricks Monday declined to comment.

TMZ broke the news . We looked at the Duluth resident’s bankruptcy filing and gleaned that her problems are not exorbitant spending but a relative lack of income:

- Her total assets are $1.716 million, mostly her property. Her liabilities total $768,642.99, mostly her mortgage. (Her claimed assets in her February filing were $1.892 million and liabilities $742,258.52.)

- The filing says her monthly income is averaging $11,700, $1,200 from royalties tied to her days with TLC. Her estimated monthly expenses are $8,821, $5,170 of that from the mortgage alone. But in 2011 through the end of October, she reported her income from employment or operation of business totaled a mere $14,000.

Source: Atlanta Journal Constitution (blog)