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Dean McDermott and Tori Spelling. Photo courtesy of People.
Summary: Former rich girl Tori Spelling has some major money problems.
Tori Spelling’s life looks charmed; but in actuality, she may be poor, just like the rest of us. Her pending legal drama with City National Bank has exposed a lot about her and her husband Dean McDermott’s bad financial state.
According to City National’s lawsuit, Spelling and her husband borrowed $400,000 and promised to pay it back with interest in monthly payments. However, the celebrity couple allegedly stopped paying on December 2, 2016, and that’s when City National took action.
“Defendants owe plaintiff an unpaid principle balance in the amount of $185,714.05, plus interest in the amount of $2,407.92 and late charges in the amount of $681.41, for a total of $188,803.38,” the court papers obtained by Radar Online stated. “These amounts remain due, owing and unpaid.”
This isn’t the only financial hardship for Spelling, the daughter of late power producer Aaron Spelling (Beverly Hills 90210, Dynasty). In October, she was court ordered to pay $38,000 to American Express, and she has two tax liens totally almost one million dollars.
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Spelling is most famous for her role as Donna Martin in Beverly Hills, 90210, and this job was given to her by her father Aaron, who was the producer of the show. Post-90210, she stayed in the spotlight by mostly doing made-for-TV films and reality shows. While any actress would be grateful to be working that much, Spelling’s problem was that she was accustomed to a more lavish lifestyle thanks to her father’s wealth and power in Hollywood. It was predicted that she, her mother Candy, and her brother Randy would equally share Aaron Spelling’s $500 million estate when he passed. However, Tori was essentially cut off when the will revealed that she would only receive $800,000 after his death in 2006.
Spelling and her husband have four children, and they have another on the way. In 2013, she admitted on The Talk that she was bad with money and tried to spin that her actions made her relatable.
“I was simply showing that I have made some bad choices financially,” Tori said. “It happens! We’re not above anyone else, we make bad choices and financially we get ourselves into holes.”
- Related: Judge Orders Tori Spelling to Pay $38M American Express Credit Card Bill
- Related: 50 Cent Is Broke, Files for Bankruptcy
Source: Radar Online
Do you think Tori will be able to solve her financial problems? Let us know in the comments below.
