Tori Spelling and her ex Dean McDermott are still dealing with a six-figure debt they were hit with years before their split, according to a new report.
On May 16, City National Bank filed court documents that showed Spelling and McDermott have yet to pay off the money they owe. The balance is continuing to accumulate due to interest being added onto the initial amount.
On May 22, 2017, a Los Angeles Superior Court judge issued a default judgment against the couple for $202,066.10. Spelling was also hit with an additional $17,730.56. The new paperwork filed claims $219,796.66 is owed, with an additional $175,596.45 in interest.
Prior to the initial judgment, City National Bank filed a lawsuit against the couple in December 2016, accusing them of a breach of contract. The bank shared the estranged pair took out a $400,000 loan in 2012.
A lawyer representing the bank shared the “defendants materially defaulted under the promissory note by failing to pay the principal and interest owing thereunder.”
“Defendants have failed to satisfy their obligations to [City National] under the terms of the promissory note,” they added.
At the time of the filing, City National Bank claimed the couple owed $188,803.38 on the loan and demanded it be repaid in full immediately. The reason Spelling was hit with an additional fee was due to her being accused of causing her checking account to overdraft by $17,000.
“It’s with great sadness and a very very heavy heart that after 18 years together and five amazing children, that Tori Spelling and I have decided to go our separate ways, and start a new journey of our own,” McDermott wrote on Instagram in June 2023, confirming the pair had separated.
“We will continue to work together as loving parents and guide and love our children through this difficult time,” he added. “We ask that you all respect our privacy as we take this time to surround our family with love and work our way through this. Thank you all for your support and kindness.”
In Touch initially reported on McDermott and Spelling still owing money to City National Bank.