There are some divorces that tend to garner more attention than others, and the obvious example is a celebrity divorce. These celebrities might be famous actors, financiers, or reality TV stars. But it is often the latter category that seems to create the most buzz, and one specific reality TV couple is making headlines right now: Kim Zolciak and Kroy Biermann. The pair are, of course, known for their role in the Real Housewives spin-off, and they announced their divorce back in late April.
As the weeks go by, more financial details begin to spill out – and they provide an interesting glimpse into the lives of a couple who are clearly struggling with money-related issues. Even if you are not the type who cares about reality TV stars (we don’t blame you), this is still a rare opportunity to take a peek into a complex divorce with many assets (and, in this case, debts) – a case study, if you will. But what kind of financial issues is this couple experiencing? Let’s take a closer look:
The Foreclosure of Their Mansion
Almost immediately after they announced their divorce, someone uncovered a notice published by Fulton County back in February. This notice stated that Truist Bank was going to auction the couple’s mansion in Georgia. The auction was scheduled to occur before the Fulton County Courthouse, and the couple had apparently defaulted on a $1.65-million loan they took out back in 2012. Biermann quickly denied the rumors, stating, “If you guys think I would let my home that we’ve put millions and millions of dollars into go for $257,000, you’re an idiot, okay? For real.”
It does seem a little strange – especially seeing as both spouses are reality TV stars. Collectively, both spouses earned about $100,000 per episode for Don’t Be Tardy – and that’s not even taking into account The Real Housewives of Atlanta. Kroy Biermann apparently earned more than $14 million during his time in the NFL. All of this makes it unthinkable that the couple would default on their mortgage – but stranger things have happened. It is also difficult to deny an official court document from Fulton County. And after all, it all depends on how fast someone spends their money – not necessarily how much they earn.
Another report states that Kim and Kroy owe the IRS more than $1 million, although these articles are completely unconfirmed. Apparently, this debt accumulated over the past few decades, and they owe the state of Georgia at least $15,000 for the year of 2018 alone. The IRS was contacted for comment, but the government agency insisted that it could not comment on these procedures.
Did Money Issues Cause the Divorce?
Whether these reports are valid or not, it seems likely that the couple is experiencing at least some degree of financial-related issues. And as many of us know, money-related problems are some of the leading causes of divorce.