Tori Spelling and Dean McDermott’s Financial Woes Continue to Mount
On June 11, City National Bank filed court documents that shed light on the dire financial situation of former Hollywood couple Tori Spelling and Dean McDermott. The couple has failed to make any payments towards their outstanding loan, which has now ballooned into a crippling debt since a judgment was issued on May 22, 2017.
What’s even more alarming is that Spelling and McDermott neglected to respond to a lawsuit in 2016, resulting in a default judgment that initially left them with a hefty bill of $220,088.37. The debt has since snowballed with interest, painting a grim picture of the couple’s financial irresponsibility.
The root of their financial troubles can be traced back to a $400,000 loan they took out in 2012. However, it appears that they have chosen to ignore their financial obligations, as City National Bank alleged in court that they have failed to meet the terms of the promissory note.
Despite the mounting legal pressure, Spelling, 52, and McDermott, 58, have been noticeably absent from the proceedings, showing a lack of accountability for their actions. Their legal saga continues to drag on, with no resolution in sight.
