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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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61.

vicky    

My condolences to Taylor, Kennedy and to all of his family. I love HWOBH and I was really looking forward to the new season airing on September 5. I wonder if the show will go on?

I am a little confused that (yes, I kinda thought that Taylor was a gold digger) but, yet, they got married in 2005 which is the same year that Russell filed bankruptcy. Why would she marry him knowing he was going broke back then if she were a gold digger? Although, as per season 1 of the show, they certainly did not show any signs of being broke.

Another thing, I noticed on the show that Russell was so quiet and did not want to be a part of the social scene, and how Taylor would cry about how he does not want to do anything with her and I always thought that that part was scripted in the show and it was all acting on his behalf. Apparently, it was real. Russell did have problems. He is a handsome guy, but if you look deep into his eyes, he kinda does look like he is not a happy camper. God bless you Russell, may you rest in peace.

1108 days ago
62.

Truth    

I am so sad to read this news! My blessings go out to Taylor and their daughter, may god bless your family in this difficult time!

1108 days ago
63.

lisa    

"his credit cards were not workin" ????
is this lawyer/friend in 3rd grade?

1108 days ago
64.

prettyaseyes    

They are both to blame, if there is blame!! I always thought there was something about his behavior on the show when his interaction with Taylor. She seemed scared of him and now it all makes sense. It's great to be poor, I tell you no worries!!

1108 days ago
65.

s    

Every housewife needs to contribute something. Taylor Armstrong would not have got a second season because she is not rich or entertaining. So she created drama and a storyline at the expense of her marriage and now as we see at the expense of her husbnd. If I were her I would walk out of the show. If she still remains it just shows money is more important than life, morals and her daughter.

1108 days ago
66.

agold    

He filed for Chapter 7 in 2005!? And she's out racking up 25k birthday parties? Wow, she's a ******* winner.

1108 days ago
67.

Real Housewife     

Sad for the little girl they have. Times are hard and sometimes it seems like there is no end. Word to the wise, Don't spend money you don't have, especially to impress people. The LOVE of money is the root of all evil. Condolences to Kennedy!

1108 days ago
68.

Jenny    

I wonder if Andy Cohen will have a special about this? Mozel of the week? This whole series smacks of put downs and bullying. They make the men look like idiots and women all look like money whores. Nothing is real. And at the center is BRAVO and Andy, raking in millions at the expense of the morons who sign on, thinking this show will make them look good and help them hawk their products.

1108 days ago
69.

Amanda    

I've learned in life to never speak ill of the dead...It's just not fair because there is NOTHING that can be done to change his actions in the last 24 hours. My heart goes out to Taylor and Kennedy during this time. I hope they can find some peace :)

1108 days ago
70.

Cindy    

After reading this I can't help but think of the episode of Kennedy's birthday party and the money that was spent on a 5 year old child. Kennedy would have been just as happy at Chuck E Cheese, instead it was just to impress all Taylor's wealthy friends. So Sad for everyone.

1108 days ago
71.

mary    

To Ronald Richards (Armstrong's attorney): Where do you get off telling the world Armstrong's financial woes????? What are you, a gossip or an attorney????? Even if many people inside his circle of friends knew about this, it certainly was not up to you to divulge it to the whole world...you give attorney's a bad name, mister. And you were speaking as a "friend"...you give friends a bad name. Shame on you!

1108 days ago
72.

Cleveland Gal    

These celebrities don't even know what financial problems are, they had to have money to maintain that rich lifestyle and this womans numerous plastic surgery procedures. They should try living like the majority of us do and see how they handle that. R/I/P

1108 days ago
73.

Meow    

God, why do people do that? Where is that moment that pops into ones head and says STOP?

1108 days ago
74.

Atlanta    

I'm glad that's not my attorney. I guess he doesn't care what he says.

1108 days ago
75.

Val    

His plastic, deformed faced bit$h of a wife spent around $60...,000 on the child's birthday last season and tried to pretend she was as rich as the others. Taylor Armstrong is evil and spent every dime he had.

1108 days ago
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