Tori Spelling And Dean McDermott Sued For Failure To Repay $400,000 Loan

By on December 27, 2016 in ArticlesCelebrity Cars

This time of year is all about holiday cheer; when people are usually in a more forgiving mood than most other times of the year. Apparently banks don't get caught up in the holiday spirit when it comes to money, though, because one bank is suing Tori Spelling and Dean McDermott for a significant amount of money as a result of defaulting on a loan.

City National Bank filed a lawsuit against the reality television couple earlier this month for allegedly defaulting on a loan that was taken out by the pair four years ago. The bank is asking for nearly $200,000 as a result of the couple failing to repay a $400,000 loan.

The lawsuit states the following, "As of December 2, 2016, Defendants [Tori and Dean] owe Plaintiff [City National Bank] an unpaid principal balance in the amount of $185,714.05, plus interest in the amount of $2,407.92 and late charges in the amount of $681.41, for a total of $188,803.38." The document goes on to say, "These amounts remain due, owing and unpaid. Interest, attorney's fees and costs continue to accrue."

(Michael Buckner/Getty Images)

(Michael Buckner/Getty Images)

Spelling, who is the daughter of 90210 producer Aaron Spelling, hasn't denied having money problems. In her 2013 memoir, Spelling It Like It Is, Spelling states the following, "It's no mystery why I have money problems… I grew up rich beyond anyone's wildest dreams. I never knew anything else. 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."

Spelling and McDermott are no strangers to being sued over unpaid bills. The couple were sued back in October by American Express for failure to pay $87,594.55 on a credit card bill, in addition to $855 in court fees.

Articles Written by Marvin Jules
Marvin Jules is a freelancer with a passion for music and sports He is a graduate of Rutgers University with degrees is Communication and Human Resource Management. In addition to writing, he also runs an online store where he curates and sells vintage clothing and accessories. You can follow him on Instagram here (IG: 9to5thrift)
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