Mary J. Blige Reaches Financial Settlement with TD Bank
Mary J. Blige may very well be one step closer to having “No More Drama” with her ongoing financial woes.
According to TMZ, the Grammy Award-winning singer’s charity, Mary J. Blige and Steve Stoute Foundation for the Advancement of Women, has reached a settlement with TD Bank reducing her outstanding debt of $322,000 to $125,000. Upon the agreement, the group is required to pay $15,000 immediately followed by 12 payments of $9,166.
The settlement is a result of a 2012 lawsuit, issued by TD Bank, claiming Blige’s charity defaulted on a $250,000 loan.
To make matters more worse, earlier this year the “Family Affair” singer was also hit with a lawsuit filed by Bank of America alleging Blige had defaulted on a $500,000 loan.