The reality TV couple’s financial woes have been well documented, but now they’re facing a new blow: City National Bank filed a lawsuit against them earlier this week demanding payments on a loan that Spelling and McDermott reportedly secured four years ago.
E! News has the Los Angeles Superior Court documents that allegedly show Spelling and McDermott borrowed $400,000 from the bank in 2012, but somewhere along the way, stopped making their payments on the loan.
Court documents say that as of Dec. 2, Spelling and McDermott owe $185,714 on the loan itself, plus $2,407 in interest and $681 in late fees.
What’s even more than that, the bank is claiming that Spelling overdrew $17,149 in September, and is demanding she pay that back too, in addition to any attorney’s fees that bank accrues during the lawsuit.
But being sued over their finances is nothing new for Spelling and McDermott. Earlier this year, American Express slapped them with a lawsuit over a $37,981 balance on their American Express card that they failed to pay. A few months later, American Express filed another lawsuit demanding payment on a $87,594 balance on another credit card the couple has. A judge has already ordered Spelling and McDermott to pay the $85,594 balance, plus $855 in court fees.
In her 2013 memoir, Spelling It Like It Is, Spelling was open about her financial problems, explaining that they came from her ultra-rich upbringing.
“It’s no mystery why I have money problems. I grew up rich beyond anyone’s wildest dreams. I never knew anything else,” she wrote. “Even when I try to embrace a simpler lifestyle, I can’t seem to let go of my expensive tastes. Even when my tastes aren’t fancy, they’re still costly. I moved houses to simplify my life, but lost almost a million dollars along the way.”
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