Reportedly Tamar Braxton and her husband, Vince Herbert, are bankrupt despite the singer’s current success. The Real host turned 38-years-old a couple of days ago, but in lieu of the recent news may not have been in the mood to celebrate. The couple is in danger of losing their California mansion and are $1.6 million in debt to the IRS. It is believed that she will be out of the Calabasas mansion by the end of the year.
Tamar Estine Braxton-Herbert is a Grammy-nominated singer and the youngest sister of music icon Toni Braxton. Tamar is commonly known by her maiden name Braxton and is a model, reality TV personality and songwriter. Tamar and Vince began dating in 2003 and married in 2008. The couple has one child, Logan Vincent Herbert, who was born June 6, 2013.
Vince is also a songwriter and reality TV personality in addition to being the founder of Streamline Records as well as record executive and producer. He not only manages his wife’s career, but has worked with artists such as Destiny’s Child, OMG Girlz, Lady Gaga, Tatyana Ali, Mindless Behavior, Aaliyah, Toni Braxton and others.
Despite the couple’s success, allegedly their mansion is empty because they cannot afford to furnish it. In addition to the threat of losing the mansion they are leasing, it has been reported they are barely holding on to the cars they still have in their possession; after having some repossessed for broken lease agreements.
Many are questioning how the couple could be broke after making so much money. The sad truth is this happens to many celebrities; whether media personalities, athletes or actors. One celebrity explained the typical “celebrity” financial crisis as follows.
When you make money in this business it comes very fast, and feels like it is never going to end.
Many celebrity personalities live with unrealistic assumptions. They reach a peek and are earning a great deal of money but forget success does not last forever. Their expectations of future income cloud their judgement as it relates to spending and saving. Too often they simply live in the moment jumping in and out of the hottest trends. Many of them tend to be easily influenced when others pitch them on the latest investment idea in hopes of maintaining their mega-star status.
The seduction of success often blinds celebrities to reality. This combination of unrealistic expectations sends them on a spending spree in hopes of “keeping up with the Joneses.” With all of the money that passes through the bank accounts of celebrities it seems they would have access to the best financial advisers. Instead, too often they put their trust in the wrong people who see them as dollar signs and not valued clients.
With access to so much cash the temptation to extend and expand is an ever-present temptation. It is always best to do it cautiously as opposed to hastily. Achieving celebrity status may be a difficult task, but maintaining the celebrity lifestyle, for many, is even harder.
Just when it appears that Tamar is on top of the game, reports of the couple’s bankrupt status has alarmed many of their fans. Supposedly, producers have refused to work with the Love and War singer unless she agrees to pay them up front. The host’s personal hair stylist also walked out on her because she paid him late one time too many.
Allegedly, Vince has threatened the source that leaked the information to the media and WE TV Executives have issued “cease and desist” letters to people Braxton accused of spreading confidential information. Unfortunately, along with star status comes the public platform where nothing is really hidden. Tamar’s fans, who she affectionately calls Tamartians, continue to wish her well and are very proud of her current success.
by Cherese Jackson (Virginia)
Inside Image Courtesy of DeShaun Craddock – Creativecommons Flickr License
Featured Image Courtesy of DeShaun Craddock – Creativecommons Flickr License