These are tough times in the household of Tori Spelling and Dean McDermott.
Tori and Dean welcomed their fifth child last month, but the good news has been largely overshadowed by the couple’s mounting financial difficulties.
Insiders say that Spelling and McDermott are completely broke, but have yet to curb their extravagant spending habits.
Worse, they’re facing a tidal wave of lawsuits that threaten to wipe out their remaining assets.
The media first caught wind of the fact that Tori and Dean’s financial problems are far worse than initially thought when the Spelling-McDermots were sued by American Express in late 2016.
Amazingly, the couple could have kept the matter out of court by paying even a small fraction of their more than $100,000 balance, but they were either unwilling or unable to do so.
Last month, we learned that McDermott is being sued for back child support after reportedly falling several months behind in payments to his first wife.
Now, Radar Online is reporting that Tori and Dean are facing yet another six-figure lawsuit – and this one could threaten to wipe them out financially.
The site reports that the actors are being sued by City National Bank of Los Angeles for a sum of over $200,000.
The bank alleges that Tori and Dean took out a $400,000 loan back in 2012 and accrued more than $188,000 in interest and late payment fees, which they are no refusing to pay back.
City National is suing for that amount, plus several thousand more in legal fees.
Spelling and McDermott appear to be running scared, having already missed one court date without advance notice.
Their appearance has been rescheduled for May 22, and if they fail to show again, the matter will simply be decided in their absence.
We’re guessing Tori and Dean won’t like the judge’s decision.
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Source:: The Hollywood Gossip