Tori Spelling and Dean McDermott Face Over $200,000 Debt on Decade-Old Bank Loan
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Tori Spelling and Dean McDermott are reportedly entangled in significant financial trouble, owing over $200,000 from a 12-year-old bank loan. According to court documents filed on May 20, City National Bank is still seeking repayment from the former couple for a loan of $400,000 taken out in 2012, which they promised to pay back with interest.
The filings, obtained by Page Six, reveal that Spelling owes the bank $219,796.66, while McDermott is responsible for $202,066.10. Despite the considerable sum, the bank’s attorney, Joshua Friedman, told Us Weekly that no “satisfaction of judgment” has been filed, indicating that the debt remains unsettled.
City National Bank initially filed a complaint against Tori Spelling and Dean McDermott in December 2016, citing breach of contract, money had and received, accounts stated, and unjust enrichment. At that time, the couple owed $188,803.38. However, by 2019, the bank had issued another writ of execution, stating that the debt remained unpaid and had accrued interest, pushing the amount owed to over $200,000.
Spelling’s financial woes have been in the public eye for some time. In 2023, the “Beverly Hills, 90210” star made headlines when she moved her five children—Liam, 17, Stella, 15, Hattie, 12, Finn, 11, and Beau, 7—into an RV due to a mold issue in their home. An insider revealed to Entertainment Tonight in August 2023 that the move was a result of her precarious financial situation. Prior to that, she faced criticism for temporarily relocating her family to a budget motel.
Despite these struggles, there appeared to be a glimmer of hope for Tori Spelling and her family. In February 2024, they upgraded their living situation, moving into a spacious five-bedroom, three-bath home in the west San Fernando Valley. The property, costing $15,000 per month, features a luxurious pool and spa area, a modern stainless steel kitchen with blue cabinetry, and ample living space. To secure the rental, Spelling paid a $7,500 security deposit.
However, this new development does not erase the looming debt. The unresolved loan remains a significant financial burden. The lack of repayment and the continued accrual of interest suggest that Tori Spelling and McDermott’s financial difficulties are far from over.
As the situation unfolds, it remains to be seen how Tori Spelling and Dean McDermott will address their outstanding debts and whether they will be able to stabilize their finances in the future. For now, the $200,000 debt stands as a stark reminder of the financial challenges the couple faces, despite the appearance of a more stable living arrangement.
Shivam Kumar
Hi, I'm Shivam Kumar. I'm pursuing Journalism honors from the IP University. I love the skill of writing and looking forward to learn more of it. Also I love traveling and experiencing new things every day....
