Reality TV star Kim Zolciak and her estranged husband, Kroy Biermann, have found themselves in more financial trouble as they have been ordered by a court in Georgia to pay a staggering $230,000 to a bank that sued them. This judgment includes the initial debt of $226,836.22, plus interest, foreclosure fees, and attorneys’ fees.
Key Takeaway
Kim Zolciak and Kroy Biermann have been ordered to pay a significant judgment of $230,000 to a bank in a lawsuit related to a defaulted home equity line of credit. This is one of several legal battles the couple is currently facing, highlighting their mounting financial troubles.
The Lawsuit and The Defaulted Home Equity Line of Credit
The lawsuit, which was filed in July, revolves around a home equity line of credit that the couple failed to pay off. As a result, Simmons Bank pursued legal action, resulting in the substantial judgment against them. With a total debt of over $231,000, Zolciak and Biermann now face a difficult financial situation.
Multiple Lawsuits and Mounting Debt
This recent judgment is not the only legal trouble the couple is facing. In August, they were sued by SAKS/CAPITAL ONE for allegedly falling behind on credit card payments. The company claimed that Kim Zolciak’s credit card had a limit of $115,000, but she owed a total of $156,080.64.
To alleviate their financial woes, the couple recently listed their Georgia family home for $6 million and sought to halt a scheduled foreclosure auction. This move would allow them to sell the property on their terms and potentially settle some of their mounting debts.
Living Under the Same Roof Amidst Divorce
Despite their ongoing divorce proceedings, Kim Zolciak and Kroy Biermann are still residing together in their Georgia home. However, the court has ordered them to maintain their distance. Kim now occupies the basement or nanny suite, while Kroy has been allocated the primary bedroom.
It remains to be seen whether the sale of their home will help alleviate some of their debts, but one thing is clear – their financial situation continues to dig a deeper hole for them.
