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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.

101510_russell_armstrong_getty
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

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46.

lesson learned    

I agree with Missy...Real Housewives of Compton! There would be zero pretense on that show! These "Housewives" shows are sooo fake! These woman have no clue of the meaning of the authentic self. I realize these "reality" shows are scripted. However, they depend petty cat fights and spending sprees for content. Taylor and "friends" are simply plastic people looking to be
offended in some fashion. There is so much more to life than this type of programming.

offende

1416 days ago
47.

Karen Tolivar    

I think that Atlanta Housewives and Beverlyhills Housewives should do a movie together. Taylor has been so inspiring. I think that Tyler Perry and Oprah should produce it I bet that this movie will would make millions.

1408 days ago
48.

cindy    

her lips look hidious

1408 days ago
49.

cynthia    

I seen Taylor when she was on "watch what happened" in the Bravo Clubhouse and she said she had a lip implant when she was younger.

Something I dont understand is....if they were broke, why did she spend $50,000 on a birthday party for her daughter..and the kid could care less.

1408 days ago
50.

donna    

i feel a bit sorry for taylor. her sad childhood is surfacing and causing her pain. her husband, clearly is not in love with her. when he made the remark at his daughter's birthday party that taylor didn't want a dog and he did it anyway, implying that he makes the rules, i realized he's ugly and an a=hole. does taylor have any marketable skills? did she go to college? sad that a seemingly nice woman has to hang on to someone like him. he's an arrogant, unattractive putz.

1406 days ago
51.

Alexa    

Taylors face is very masculine. The dude looks like a lady, cant stand the lips.

1387 days ago
52.

c Palfreyman    

What is the point of trashing people online dont you people have your own lives to lead, does this make you feel good? It shouldn't.

1381 days ago
53.

Sue galloway    

The dog on Beverly hills house wife .did I hear that dog has something wrong with it .and it doesn't have body hair ?

1380 days ago
54.

Anonymous    

Jesus loves you! I think Taylor is so sweet. She's one of the only reasons I watch The Real Housewives of Beverly Hills!

John 3;16

By your side- Tenth avenue north

1380 days ago
55.

Alexa    

What in the world is so sweet about Taylor ? 1. Marriage is 80% business 2. tells people she is gonna take them out back and do what to them ? 3. Calls people crack heads . 4. Every argument she throws in the F-Bomb . 5. Has a crush on Kyle 6. SHE LIES 7. Said her husband has more money than Texas. Think twice when you say sweet !!!!

1379 days ago
56.

Alexa    

This comment is to #52. You must have alot of time on your hands if you are sitting around and reading these comments. You even have time to post one of your own !!!

1379 days ago
57.

DeBee    

I think Taylor(?)is a psychopathic liar. On Watch what happens live she said her real last name was Taylor,first name Shanna and that she changed her name because everyone called her Taylor.On her Bravo blog someone wrote that in her High School yearbook her last name was Hughes and oddly enough on the Wetpaint website it says her maiden name was Ford.After watching her throw a $60...,000 birthday party for a 4yr old kid and now reading that her husband declared bankruptcy in Oct '05,I think these people are just like the "Salahi's".

1373 days ago
58.

linda    

cant stand taylor. she is a liar and trouble maker. kyle also makes me sick the way she treats hers kim.!!! and on the altlanta housewifes. nene is sickening, who does she think she is, calling people trash. and white trash. she is trash straight up trash. she needs to take a look at what she looks like. a big fat whale.

1372 days ago
59.

Steve    

Taylor Armstrong is nothing but a phony, superficial wannabe. First, her original name was not Taylor. She changed her name apparently to make herself more alluring. She is obviously very much self absorbed. The lip job is a hoot. I don't understand where she came from? Who the hell is she? I know she was a drug rep and a device rep at one point---obviously good careers for developing the art of pandering. But how did she end up on the show? Talk about plastic. She is so enthralled with living the Beverly Hills lifestyle and really has a high opinion of herself. It's amazing how we make celebrities out of nobodys----i.e. Paris Hilton, etc... In any case Taylor, the recommended inflation pressure for the lips is 7 psi, not 15 psi.

1364 days ago
60.

kimmer    

Oh My God!!! What the Hell is that?!?!?

1361 days ago
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