Mary J. Blige Reaches Financial Settlement With TD Bank

10/01/2013 04:18 pm ET | Updated Oct 07, 2013

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.

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