What Are The Financial Issues With Kim Zolciak And Kroy Biermann And How Did They Get Themselves Int
The former Real Housewives of Atlanta star Kim Zolciak and her husband Kroy Bierman decided not to get divorced after all in July 2023. This was shocking news since it was shaping up to be one of the trickiest celebrity divorces.
The couple has been married since 2011 and has definitely gone through a lot... and that's an understatement. Money is often one of the topics that couples fight the most about. And it's often a reason that a marriage doesn't last. In Zolciak and Biermann's case, several sources have reported that their financial issues were the reason behind their now-canceled divorce.
Even though Kim Zolciak and Kroy Biermann aren't getting divorced, they are still facing an uphill battle in terms of their finances. What problems has the reality TV couple been dealing with?
7 Landmark Community Bank Is Suing Kim Zolciak And Kroy Biermann For More Than $217,000
There has been a lot of news surrounding Kim Zolciak and Kroy Biermann's problems over the past few months. This included a rumor that Kim Zolciak's friend kidnapped her son. They seemed really upset with each other and it was hard to say if they would ever get back together. And now that the pair aren't getting divorced anymore, they are still facing many financial problems.
A bank is suing Kroy Biermann and Kim Zolciak and they owe a lot of money. The Daily Mail reported that the couple purchased their home in Georgia back in 2012 and got a Home Equity Line of Credit for $300,000. The house cost $880,000.
According to The Daily Mail, Simmons Bank, who owns Landmark Community Bank, is suing the couple for $213,611.27. They are also looking for $1,705.45 in interest. The lawsuit also includes $55.03 in "per diem charges" and $2,071.57 for costs associated with foreclosure.
6 Was Kim Zolciak And Kroy Biermann's House In Foreclosure?
According to People, Kim Zolciak and Kroy Biermann's house was in foreclosure as of February 2023. The couple got a loan of $1.65 million in October 2012 for their home, but they didn't pay it back. However, People reported that Zolciak said that her house wasn't in foreclosure at all.
While there were reports that someone else had purchased the house, Zolciak said that wasn't the case at all. According to Us Weekly, she addressed the situation on Instagram Stories in November 2022 and explained, “My house had not sold for $272,000.” In March 2023, People reported that there would be no auction of the house. A source said, "the couple has taken the action to clear this up."
5 Kim Zolciak And Kroy Biermann Didn't Pay $1.1 Million In Taxes
There have also been many news stories about Kim Zolciak and her husband Kroy Biermann not paying taxes. This is definitely one of the most serious financial problems that they are dealing with.
According to TMZ, the couple "owes a whopping $1.1M to the IRS for unpaid taxes, interest, and penalties from 2013, 2017, and 2018 -- they also owe the state of Georgia $15K for unpaid taxes for 2018."
After this news came out, former The Real Housewives of New York City star Bethenny Frankel made a TikTok about how much she disagrees with not paying taxes. She said, “He’s on a football salary, she’s on a Housewives salary, and they’re spending like the f**king planes going down. And the thing is, you can’t spend more than you make. Pay your bills. Don’t front & stunt. All show & no go #payyourbills,”
4 Kim Zolciak Didn't Pay $2,482.24 On Her Target Credit Card
Kim Zolciak also owes money because of an unpaid Target credit card. Page Six reported in late June 2023 that while the reality star first got her credit card in December 2007, she hadn't paid off her credit card since September 17th 2022. At the time, she gave $500, which wasn't enough.
According to Target National Bank, Zolciak needed to pay credit card fees of $2,482.24 as so far she had "failed, neglected, and refused" to do so. Between the taxes that Zolciak and Biermann didn't pay and Zolciak's credit card, they both owe a lot of money.
3 Kim Zolciak Is A Fan Of Gambling, According to Kroy Biermann
Over the last few months, several stories have come out about Kim Zolciak having an alleged gambling issue. TMZ reported that Kroy Biermann said Zolciak spent so much time gambling that she wasn't a good parent. Since custody is often a difficult and contentious part of any divorce, this was a huge problem.
Page Six reported that Biermann said of his wife's gambling, “The total in the marriage was about $1.5 million dollars. She does it online illegally. It’s probably been going on for pretty much our entire marriage and it’s gotten significantly worse." According to Radar Online, a video showed Biermann saying that Zolciak had gambled away $700,000 since 2021.
The Sun reported that in 2014, Zolciak gambled $250,000 on a vacation to the Bahamas. In a scene filmed for her spinoff series Don't Be Tardy, she said, "I love to gamble, but there's no casino here in Georgia, so the only way to get my thrill is to buy scratch-offs."
2 Did Kroy Biermann Ignore His Car Payments For His Rolls Royce?
Kroy Biermann also might not have made some important car payments. According to Page Six, he has a Rolls Royce that cost $400,000. In June 2023, BMW Financial Services sued him for not paying.
Page Six reported that Biermann was supposed to make payments over 36 months. He only needed to pay $5,000 at a time and he agreed to do so in a contract from July 31, 2020. Over the past few years, he wasn't paying on time. And between January 2022 and April 2023, it became even more obvious that he wasn't making timely deposits.
1 Why Did Kim Zolciak Sell Her Wigs?
When Kim Zolciak was a cast member on The Real Housewives of Atlanta, she was known for wearing wigs. They sometimes became conversation topics and they definitely stood out.
The Sun reported that in the first episode of season 8 of Zolciak's spinoff Don't Be Tardy, she didn't have a wig on, and everyone was talking about it. She mentioned that it felt strange to not have anything on her head.
In May 2023, Zolciak decided to sell her wigs so she could make some money, according to People. She was hoping to make a few thousand dollars and priced one wig at $2,750.
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