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'Beverly Hills Housewives' Hubby Went Belly Up

10/16/2010 9:45 AM PDT BY TMZ STAFF

"Real Housewives of Beverly Hills" cast member Taylor Armstrong has a husband who has a lot in common with a big celebrity ... sadly, it's Toni Braxton.

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Russell Armstrong filed for Chapter 7 bankruptcy back in October of '05, this according to docs filed in U.S. Bankruptcy Court and obtained by TMZ.  The problem was simple ... Armstrong, an investor, said he had less than $50,000 in assets and debt somewhere between 1 and 10 million bucks.

Russell, who has been married to Taylor for seven years, says in the docs he made a boatload during the 1990's "dot.com boom" but took a huge financial hit when everything crashed. And it went from bad to worse after 9/11, with an IRS dispute and a "costly" palimony lawsuit filed by a former fianceé.

Looks like Taylor took the "for richer or poorer" part seriously.

A rep could not be reached for comment.

69 COMMENTS

No Avatar
1.

anni    

Oh, please, Donald Trump was 'broke' at one point. Guys like this have balls and are smart, which makes them bounce back. She will leave, and he will get a new woman.

1367 days ago
2.

Sin D    

Wow...Julia Roberts has REALLY gone downhill to end up in a show like this,,,

1367 days ago
3.

Caleigh    

Here we go again, another housewives show, which is supposed to be about affluent women, movers and shakers, and once again a past financial problem is exposed

Is being a reality fame whore that important ?

1367 days ago
4.

moe    

Taylor said on the show this week that their *marriage* is 80 % business and 20% romantic (or whatever) She is DISGUSTING......the Maloof houswife looks like a dude in drag/gremlin even with all of her plastic surgery.....STILL HIDEOUS!!!

1367 days ago
5.

Missy    

I think they need to do "The Real Housewives of Compton"...now that would be some great tv!

1367 days ago
6.

Woot    

Omg, poor thing! What happened to her mouth?

1367 days ago
7.

Bubbles The Chimp    

The fool blamed everyone but himself. Next he will blame the Witchiepoo from H.R. PufnStuf.

1367 days ago
8.

Cartman    

Just because he's broke doesn't give him the right to punch her in the mouth and give her a fat lip!

1367 days ago
9.

durrr...    

too bad he didn't invest in a bank with one thousand home loans, and then that crashed and went bankrupt!! now THAT would have been funny. this, nahh.....

1367 days ago
10.

runningman    

Another show about vapid people in meaningless relationship. One look at these two and the word phony and shallow come to mind. Pathetic

1367 days ago
11.

Tom Cruise    

Oh don't worry she won't stick around.

1366 days ago
12.

SunsetStripCeleb    

Yes, Donald Trump and everyone else makes smart moves financially. This was 5 years ago and obviouslthey have the money now to live large. People like this bounce back bigger and better. I saw the show and loved these characters.

1366 days ago
13.

Marty    

Tom Cruise posted #11 said:
"Oh don't worry she won't stick around"

Those lips had to be stickin on something to look like that!

1366 days ago
14.

gemini81    

Next season we'll be seeing them get a nasty divorce. He's an idiot, and she's a gold digger, so she'll drop his a$$ once she can't get botox and lip injections anymore!

1366 days ago
15.

Jimmy Jam    

"Big Hat, No Cattle." What a phony this guy is. The money he made back in the 90's was done through scam marketing. He has never made an honest days wage in his life.

Hey, phony! Wipe that arrogant smirk off your face!

1366 days ago
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