Flat Broke! Dean Tells Tori It's Time To File For Bankruptcy
Jan. 20 2016, Updated 6:29 p.m. ET
Tori Spelling is being pressured to file for bankruptcy by her husband, Dean McDermott, RadarOnline.com has learned, after American Express filed a lawsuit against the former Beverly Hills 90210 star for failure to pay more than $38,000 in charges and a loan.
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According to a source, the financial situation at the Spelling-McDermott household is even worse than Spelling has admitted. "American Express provided a loan to Tori out of a line of credit she had," the source says of her massive bill. "The loan was needed because Tori and Dean had no money coming in last summer. She was hospitalized with burns on her arms, and was in pain for months."
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"Having four young kids is also very expensive, especially since Liam and Stella go to private school," said the source.
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So now, "Dean wants Tori to file for bankruptcy because there are other credit card companies that are owed money too," the insider claimed. "It's surprising that this was only the first company to file a lawsuit in an attempt to get the outstanding balance paid."
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"But Tori refuses to even discuss the possibility of bankruptcy," the insider said.
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The loan from American Express was in the $25,000 to $30,000 range, according to the insider.
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Spelling, 42, has made no secret of the fact that she has an incredible amount of memorabilia, clothing and other possessions in storage. "But the monthly fees for the storage facility are extremely costly," the source previously told Radar. "If Tori doesn't become current with the payments, the contents will be auctioned off. The family has no savings left."
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Spelling says she is unable to work because of a burn on her arm, suffered after falling into a hot grill at Benihana restaurant —which now has the reality star suing the eatery.
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The financial problems forced the couple to move out of their rental mansion last year, and into smaller digs. Hoping to save money, McDermott, 49, had friends help with the move, and rented a U-Haul truck .
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The couple "wants another reality show, but the networks just are saying 'no thanks.' It's very sad, especially for the kids," said the source. "The tension between Tori and Dean is off the charts."