Reality television stars Kim Zolciak and Kroy Biermann are facing dire financial straits, with mounting debts and an impending foreclosure on their Georgia mansion, according to court documents filed by Biermann.
Debts Pile Up for Kim Zolciak and Kroy Biermann Amidst IRS Trouble
In the documents filed in Fulton County Superior Court, Biermann, 38, revealed that the couple owes the Internal Revenue Service (IRS) over $1 million in unpaid taxes dating back to 2013, 2017, and 2018. This shocking revelation comes on top of other outstanding debts, including a $400,000 lawsuit from BMW Financial and a $100,000 pending lawsuit from Capital One/Saks. Additionally, Biermann disclosed a lawsuit demanding repayment for a line of credit issued by a casino in the Bahamas, further exacerbating their financial troubles.
The couple’s primary concern revolves around their marital residence, a $3 million mansion in Alpharetta, Georgia. Biermann fears they are on the brink of foreclosure for the second time due to their inability to meet their financial obligations. He urged the courts to grant him permission to sell the property to avoid losing it to foreclosure, stating that it is their only asset.
Adding to their complex situation are the four minor children residing with them. Biermann filed a motion requesting the appointment of a Guardian ad Litem to protect the well-being of the children, citing the toxicity, which is currently present in their home as detrimental to their mental and emotional health.
Gambling Addiction Tore Apart Zolciak and Biermann’s Marriage
This financial turmoil is not the first setback for the couple. In October 2022, their Georgia mansion faced foreclosure after they failed to repay a $300,000 loan taken out on the property. Although they managed to avoid the auction block with a last-minute deal, their troubles continued to mount.
Their money problems escalated in May when it was revealed they owed $1.1 million in taxes, interest, and penalties to the IRS. Additionally, they allegedly owed the state of Georgia $15,000 for the year 2018. These financial challenges took a toll on their marriage, resulting in their initial divorce filing in May.
Amid public accusations and revelations of Kim’s gambling problem, they reconciled and withdrew their divorce petition in July. However, the reconciliation was short-lived, as Biermann filed for divorce a second time in August, stating that their marriage was unrepairable. He also sought sole legal and physical custody of their four minor children, as well as maintaining custody of Kim’s daughters, whom he legally adopted in 2013.