Kristin Cavallari is coming back to the small screen for the first since her time on The Hills nearly ten years ago. However, what most don’t know is that, at the time, Cavallari’s father was going through some serious financial issues.
According to a report from Radar Online, Dennis Cavallari filed for Chapter 7 bankruptcy on the 18th of October, 2011. Mr. Cavallari filed the papers in the United States Bankruptcy Court for the Central District Of California.
Radar Online reports that he owed a whopping $10,423,001.00. Among that debt, included several vehicles, like a Land Rover Range Rover as well as a BMW.
A majority of his debt, $8,833,376, was in trust payments and another $1.2 million was for his California home which was featured on the reality TV series, Laguna Beach.
Interestingly, Cavallari was making a lot of money, but he and his wife were simply spending way too much of it. In fact, they were spending nearly fivefold as much as they were making.
Cavallari owed around $55,941 to the Bank Of America, $11,770 to Capital One, and $59,875 to Citi Advantage and more. Dennis, who is a real estate developer, had an average monthly income of around $17,000 but obviously, he was spending it faster than he could manage.
His wife had $850 a month coming in as a yoga instructor. Even though they were pulling in close to $18,000 a month, their total expenses every month totaled $57,537. In 2012, their Laguna Beach mansion had to be sold to the bank, and they closed the case on the 23rd of April, 2012.
Reportedly, Kristin is coming back to the screen for her latest show, Very Cavallari. And the series will follow her around as a wife, mother, and entrepreneur of a flagship store called Uncommon James. Perhaps, Kristin will send some of her reality TV money to her father?