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Tori Spelling and ex Dean McDermott are over $200,000 in debt on 12-year-old bank loan

  2024-06-10 pagesixBreAnna Bell40870
Introduction

Tori Spelling and Dean McDermott reportedly owe more than $200,000 from a 12-year-old bank loan, Page Six can confirm. A

Tori Spelling and ex Dean McDermott are over $200,000 in debt on 12-year-old bank loan

Tori Spelling and Dean McDermott reportedly owe more than $200,000 from a 12-year-old bank loan, Page Six can /confirm/i.

According to court documents filed on May 20, City National Bank is still seeking to get paid by McDermott and Spelling for a 2012 loan of $400,000 — which they promised to pay with interest.

The filing, which Page Six obtained, states Spelling owes the bank $219,796.66, while McDermott is liable for the other $202,066.10.

Tori Spelling video screenshot
Tori Spelling and Dean McDermott still owe over $200,000 on a loan from City National Bank. misSPELLING Podcast/Instagram
Tori Spelling screenshot
The former couple first acquired the $400,000 loan from the bank in 2012. imdeanmcdermott/Instagram
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“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,” City National Bank’s attorney, Joshua Friedman, told the Us Weekly.

The bank first filed a complaint against the former couple in December 2016 for breach of contract, money had and received, accounts stated, and unjust enrichment.

At the time, they owed a balance of $188,803.38.

In 2019, the bank followed up with another writ of execution claiming it still had not been paid by either party and their six-figure debt had accrued interest.

Tori Spelling and Dean McDermott party photo
The bank first filed a complaint against the two parties in 2016 for breach of contract, money had and received, accounts stated, and unjust enrichment. FilmMagic for Us Weekly Magazine
Tori Spelling and Dean McDermott paparazzi photo
According to court documents, Spelling owes the bank a whopping $219,796.66 while McDermott owes $202,066.10. Bauer-Griffin / SplashNews

Reps for Spelling and McDermott didn’t immediately respond to Page Six’s request for comment.

News of Spelling’s money troubles have been circulating since 2023 when the former “Beverly Hills, 90210” actress made headlines after she moved herself and her five children — Liam, 17, Stella, 15, Hattie, 12, Finn, 11, and Beau, 7 — to an RV for an extended stay due to a “mold situation” at her home.

“It has been difficult for her to find a place to stay during it because her financial situation is not great,” an insider told “Entertainment Tonight” in August 2023.

Spelling was also criticized earlier that month for briefly moving her family to a budget motel.

Tori Spelling and Dean McDermott family photo red carpet
The news comes following months of Spelling’s reported money troubles. FilmMagic
Tori Spelling and Dean McDermott family photo
Spelling seemed to be out of the woods with her money issues in February when she moved her family into a lavish $15K per month rental home. Getty Images for LuskinOIC

Things seemed to be looking up for the “MisSPELLING” podcast host when she later upgraded her family’s living situation this past February.

She and the rest of the Spelling clan moved into a vast five-bedroom, three-bath home in the west San Fernando Valley, which was priced at $15,000 a month.

According to the Daily Mail, Spelling paid a $7,500 security deposit in order to get keys to the property which features a lavish pool and spa area, an upgraded stainless steel kitchen with blue cabinetry and plenty of living space.

(By/BreAnna Bell)
 
 
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