As you may have heard, Tori Spelling and Dean McDermott are broke.
And we don’t mean, like, had to cut visits from their private pilates instructor down to three days a week poor.
We mean, “Why did you buy Heinz when you know we have a coupon for store brand ketchup?” poor.
The couple’s dire financial straits first became public knowledge when Tori was sued by American Express for an unpaid bill back in October.
The amount owed was in the neighborhood of $ 100,000, which shouldn’t be a lot of money to an heiress and formerly (albeit briefly) in-demand actress.
In the months since news of the suit broke, Tori and Dean moved from their posh Calabasas digs to a significantly smaller rental home in the working-class Encino.
Now, it looks as though the Spelling-McDermotts debt crisis is only getting worse, thanks to a new six-figure lawsuit from City National Bank.
According to court documents obtained by Radar Online, Tori and Dean borrowed $ 400,000 from the bank in December of 2012.
Now that four years have passed, and the reality stars still owe half the principle, they’re being sued for the remaining amount.
“Defendants promised to repay to plaintiff $ 400,000 in full, plus interest,” the court papers read.
“Defendants agreed to make monthly principle payments plus interest under the terms of the promissory note.
Lawyers for the bank say Tori and Dean are on the hook for a sizable sum:
“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 read. “These amounts remain due, owing and unpaid.”
The situation is made even more depressing by the fact that Tori and Dean have four kids together: Liam, 9, Stella, 8, Hattie, 5, and Finn, 4.
On top of that, Dean has a teenage son from his marriage to Mary Jo Eustace, and, Tori is currently pregnant with her fifth child.
Sounds like Tori and Dean better land themselves another reality show quick!
Hey, a series that focuses on growing up wealthy in the ritziest parts of SoCal and then losing it all might be interesting.
It would be like a reverse-Beverly Hillbillies.