Bravo’s Real Housewives of Atlanta star Kroy Biermann has hit rock bottom as he fesses up to being “financially destitute” in paperwork he filed with the Fulton County Superior Court earlier this week. What exactly did the Bravo personality reveal in this paperwork? Keep reading for the details.
Kroy Biermann Hits Rock Bottom: “Financially Destitute”
As confirmed by InTouch Weekly, Kroy Biermann filed paperwork with Fulton County Superior Court earlier this week citing that he was “financially destitute.” Within this paperwork, the Bravo personality largely blames his estranged wife, Kim Zolciak, for their financial peril. Kroy argues that Kim’s “reckless spending habits and love for online gambling” are to blame for the difficult situation they are both currently in.
Presently, their financial struggles include an IRS lien on their Georgia mansion for $1.1 million, a BMW lawsuit for $400,000 due to unpaid car notes, and a lawsuit involving Capital One/Saks.
In an effort to fix the financial black hole he is currently in, Kroy Biermann has petitioned the court. He is asking for permission to sell their mansion, which is valued at at least $3 million. At this time, Kroy believes selling the home is the only way to mend the situation.
He continues to explain: “The only asset the parties have is the marital residence and they are facing foreclosure on the home for a second time.”
Money Problems First Surfaced A Year Ago
Kim and Kroy Biermann’s money struggles first landed in the spotlight in October of last year. At the time, news broke that their home was being foreclosed on. This was reportedly because they did not pay back the $300,000 loan they took against the home. Their home was originally slated to be part of an auction in March of this year. Kim and Kroy, however, were able to make a deal at the last minute to retain ownership of their home.
This deal and all the money they still owe on the home presented a problem for Kroy. He wasn’t able to just sell the home and make his financial problems go away. He first has to secure permission from the proper channels to make this type of decision. Likewise, it being a martial asset also made selling difficult.
After securing the home from being sold, Bravo fans thought Kim and Kroy had a handle on their financial issues. That was until a bombshell dropped in May stating that the couple owed $1.1 million in unpaid tax debt.
As more and more information continued to come rushing out about the financial strain the couple was under, their relationship also broke. Sadly, fans can only assume Kim and Kroy wouldn’t have martial issues if they were not drowning in debt.
Do you think Kroy Biermann and his wife are really over? Do you think there is a way out of this financial black hole for them? Share your thoughts with us in the comments. And, keep coming back for more Bravo news.
