Tori Spelling & Estranged Ex In Massive Debt Amid Divorce
Tori Spelling and her estranged ex, Dean McDermott, are in massive debt amid their divorce. The two separated nearly a year ago but Tori did not file until March 2024. Now, the two have a debt that is coming to the forefront but how will they settle it? Keep reading for more details.
Tori Spelling & Estranged Ex In Massive Debt Amid Divorce
Throughout their marriage, Tori Spelling and Dean McDermott did have money troubles. She was interested in opening and exploring a handful of different businesses. The only thing that was truly stable during their time together was reality television which lasted several years. Plus, Tori wrote six books so those were her niches. Aside from that, she did dip and dive into other ventures but all that did was add to their mounting money problems. By the time their marriage came crumbling down, Tori had fallen ill along with a few of their children.
As it turned out, their home was infested with mold so she took their five kids to a motel. They then moved into an RV though her mother, Candy Spelling claimed she offered financial help. Allegedly, she wanted to help Tori and her brood find a home but she had declined. Since then, they have relocated to a $15K/month home and Tori has a new podcast, misSPELLING where she spills all. Unfortunately, she and Dean are still in $200K worth of debt. According to Us Weekly, it dates back to a $400K loan they obtained in 2012.
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Though they maintained that they would pay it back with interest, by 2016, they still owed $188,803.38 to City National Bank. The bank tried to collect the money three years later but with no such luck. Per the paperwork, Tori Spelling owes a “default judgment of $219,796.66.” Dean McDermott owes $202,066.10 of the total judgment which they have not received.
If It Had Been Settled…
The bank’s lawyer, Joshua Friedman, explained what would have transpired had the debt been settled:
“When a judgment has been paid or settled in full, a satisfaction of judgment is required in court and none has been filed in this case.”
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