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Russell Armstrong

Distraught Over Divorce and

'Tremendous Financial Problems'

8/16/2011 8:30 AM PDT BY TMZ STAFF

0816_russell_taylor_armstrong_ex_3
"Real Housewives of Beverly Hills" star Russell Armstrong was at his wits end over his impending divorce from Taylor in the days leading to his death -- and he was inundated with debt.

Russell's lawyer Ronald Richards tells TMZ, Russell had been staying at a friend's house on Mulholland Drive in L.A. -- the same house where authorities found his body hanging last night.

0816-russell-house-water-subRichards tells us, "I feel bad because his credit cards weren't working ... He had tremendous financial problems."

Richards adds, "He was also extremely bummed out about the divorce with Taylor. As far as a will, even if he does have a will, they don't have any assets, so I'm not sure what there would be left to leave. I am extremely saddened ... I had no idea he was depressed."

As we previously reported, Russell -- an investor who made his money in the 90s during the dot com boom -- filed for Chapter 7 bankruptcy in 2005, claiming he had less than $50,000 in assets ... and debt somewhere between $1 and $10 million.

150 COMMENTS

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1.

Kardashi-Don't    

I wonder if Bravo tv has any guilt about this?

1074 days ago
2.

writenow    

Well when Cash is King - I guess he felt if he was tapped out he might as well forget about everyone in his life and check out.

1074 days ago
3.

e33    

Financial problems happen when you marry a gold digging dream killer. The Grouper got him good.

1074 days ago
4.

royalredus    

Man, that would be an awful feeling to become wealthy and then just lose it all! To go from mansions and fancy cars to a point where your credit cards don't even work. It seems like the "wealth" of most of these housewives/husbands is all just a sham.

1074 days ago
5.

jane    

There must be money somewhere...Otherwise Taylor would not be able to maintain her lifestyle. Unless finances are what really caused her to split with Russell.

1074 days ago
6.

nicole    

dang, I lost my job after 20 years, it's been 3 yrs since I've worked & I'm going through foreclosure, as depressing as that is to me, I could never do that to my child! Of course my debt is nothing compared to his, but it still feels the same when your back is against the wall. Very sad for their daughter!

1074 days ago
7.

steeler fan    

That's a shame he took the easy way out, he couldn't face having to live like the rest of the world, on a budget. No wonder they went broke, did you see the b-day party she through for her kid?

1074 days ago
8.

Rotter    

Cautionary tale, people. It's sad that the arrogance and hubris of some people lead to tragedies like this.

1074 days ago
9.

Larry    

Death is indeed a sad ending to this guys life. The glitzy skanks and the Beverly Hills trappings are not real. I met Elvis once as a kid and he looked at me and said "do you think I really need any of this?"...you didn't need it either my friend. rest in peace

1074 days ago
10.

Beverly    

I gasped when I saw the headlines over Russell's death. OMG! I really feel for Taylor & their little girl. Money can't buy you everything & the lack of money can do this to you. Wonder how Bravo will address this with the new season coming up soon(?)...

1074 days ago
11.

3Storms    

That gold-digger wanted out once they started having money problems so she fabricated the still-unproven abuse stories to publicly destroy him with as her way out without her looking like a shallow gold-digger.


Congrats to her. She won.

1074 days ago
12.

Rotter    

I wonder what Taylor's next gig will be. I have a guess, and it involves walking a beat, if you know what I mean.

1074 days ago
13.

MariDM    

I blame Taylor for this one. She's a GOLD DIGGER!!! You can see it in her face!!! A 40K b-day party for a 5 year old???

1074 days ago
14.

TRW    

How can you make the statement that someone was "extremely bummed" about the divorce and know he was in 'tremendous financial distress', then say you had "no idea he was depressed"?? Really?? Wake up!!!

1074 days ago
15.

knickfan212    

He went broke trying to keep up with her fronting.She was a gold digger! From what I see,all those housewives shows are a bunch of gold diggers. He should've hung her.

1074 days ago
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