Money Woes: Kim Zolciak and Ex Kroy Biermann Ordered to Pay $230k After Blowing off Bank Lawsuit
Kim Zolciak and ex Kroy Biermann have been ordered to pay a 6-figure amount to a bank that sued them.
Oct. 27 2023, Published 3:40 p.m. ET
Kim Zolciak and her estranged husband, Kroy Biermann, now have no choice but to dig into their pockets to pay a $230k debt in a lawsuit stemming from a home equity line of credit the duo defaulted on.
RadarOnline.com can confirm a Georgia court-ordered Simmons Bank judgment against the former flames for a whopping $226,836.22, tacking on $178.51 in interest, $2,071.57 in foreclosure fees and $1,945.31 in attorneys' fees.
A Georgia court ordered Simmons Bank judgment against the exes for $226,836.22.
It was determined after the now-exes "failed to file an Answer or other defensive pleadings within the time prescribed by law, and more than 15 days having elapsed since the date of default," according to court docs obtained by RadarOnline.com on Friday.
The $231,031.61 total is a hefty price tag for the reality TV exes who are in the midst of a financial crisis.
Amid their money woes, Biermann and Zolciak listed their sprawling Georgia family home for $6 million, asking the court to halt a scheduled foreclosure auction on the property scheduled for November 7, fearing they could suffer "irreparable injury to the marital estate depleting it in its entirety."
RadarOnline.com told you first that Biermann and Zolciak were accused of blowing off the lawsuit.
RadarOnline.com learned just weeks ago that Simmons Bank asked for default to be entered against the former Don't Be Tardy stars for blowing off the case.
The lawsuit was filed on July 5, 2023, and the couple was served on August 16.
In the docs, Simmons Bank claimed the pair took out a Home Equity Line of Credit in the amount of $300k that had an original maturity date of December 2016.
Biermann and Zolciak listed their sprawling Georgia family home for $6 million amid money troubles.
The couple modified the loan in August 2017, thereby extending the maturity date to later that year. The two later acknowledged they owed $271k on the principal when a second modification was made the following year in 2018.
According to the plaintiff, Zolciak and Biermann agreed to make monthly payments of $1,132.46 with the first payment due in February 2018 and the last in January 2038.
In court documents, it was claimed the pair defaulted on the loan. The last payment received was in October 2022.
The former flames are currently going through divorce proceedings amid their cash troubles.
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The cash troubles seem to keep piling on for the exes amid their ongoing divorce.
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The two were also hit with a massive tax lien by the Internal Revenue Service.
Despite reconciliation rumors swirling, Biermann has "no desire to reconcile," RadarOnline.com learned and wants to "leave the marital residence, with the children, and provide a home for them that is calm and stable; the opposite of their current environment," a motion he filed with attorney Marlys A. Bergstrom stated.
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