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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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106.

Pat    

After reading dozens of comments criticizing their lavish lifestyle after his bankruptcy in 2005 I wanted to make the following point. There are many millionaires that have made and lost fortunes multiple times because they are risk takers. He was an investment banker and obviously was a big speculator. I have no doubt that he was very wealthy again after the bankruptcy but lost it all again.

1060 days ago
107.

debschira     

RICHARDS WAS HIS LAWYER AND HE HAD ............NO FUCHING IDEA HE WAS DEPRESSED??..........IF YOU KNEW ABOUT HIS DIVORCE AND FINANCIAL SITUATION, DONT CHA THINK DEPRESSION MIGHT ENTER YOUR MORONIC SMALL EFFING MIND YOU TWIT? BET YOU'LL STILL BE LOOKING FOR PAYMENT FOR "SERVICES RENDERED" YOU SHOULD BE RUN OUT OF TOWN. YOU HAD TO OF KNOW SOMETHING WAS UP, IT'S THAT OR YOUR NOT A VERY GOOD AMBULANCE CHASER. JEEZ LOUISE.................P.S. CAUSE A 5YR OLD KNOWS THAT DEPRESSED PEOPLE SHOW REALLY "CAN'T MISS" SIGNS OF DEPRESSION AND POSSIBLE SUICIDAL THOUGHTS. YOU MIGHT HAVE SOME PEOPLE BELIEVING YOU BUT NOT THIS OLD BROAD. SHAME ON YOU BUT MORE SHAME ON THAT TWIT OF A WAIF HE SUPPOSEDLY "ABUSED" AIN'T BUYING THAT EITHER. DISGUSTING....THAT INCLUDES U MONEY HUNGRY BRAVO.

1060 days ago
108.

ms951    

My condolences to family and friends. Instead of worrying about his estranged wife's spending habits be concerned for his daughter and parents. This is such a tragic loss for the family.

Suicide is never the answer, especially when you have children. Often, however a person's mental state, does not give them the mental capacity to see they can ask for help and make it through these tough times. Money and "keeping up with the Jones, as we see in all of the reality shows," can be the root to all evil when it becomes more important than life.

1060 days ago
109.

tellmeaboutit     

When the money ran out, so did she. Shame on Bravo and every network who jams these plastic gold diggers, low lifes, and dysfunctional phony fools on to their damned reality shows. They've graduated from having their pollution break up marriages, to jail sentences for low life behavior, and now to death. Good job,
money worshippers and the sheep who watch this garbage.

1060 days ago
110.

LadyBeagles    

oh his credit cards didn't work!! well that's what happens when you base your wealth on paper only. If he had a real job he wouldn't be in this mess...and have a money grubbing whore of a wife who now took his life...very sad for the daughter who now will have to support her mother.

1060 days ago
111.

Gigi    

I am so saddened by this, but not very surprised. I always sensed something about him was troubled. Just a vibe I got. I feel awful for him that he felt that killing himself was the only way to solve things. These reality shows have got to stop. I can't imagine how it felt knowing that the whole world thought you were wealthy, but the truth was, you were in financial ruin. Most men are very proud and I can see how this would make him feel terrible.

1060 days ago
112.

Amy    

Wow that is expensive 15 minutes of fame. My heart goes out to the children.

1060 days ago
113.

anaisninja    

Too bad they spent all that money on toddler's birthday party.

1060 days ago
114.

joecrabs    

Can you blame him? A gold-digging wife, debt up to his a--hole. This b-tch and her lawyers were probably getting all their little divorce papers in order so thay can drain this poor schmuck for all he's got, then BAM! Now what? These "real" s***bags of ______ shows are disgusting. Only thing real about that crap is there insatiable desire for cash and doing whatever it takes to get it without working.

1060 days ago
115.

Francisco Martin    

Ronald Richards is a low-life attorney, who has absolutely no authority to speak on behalf of the Armstrongs. I knew Russell and actually was the person finding my friend at his place. I had never heard of Ronald Richards before.

1059 days ago
116.

QueenWeen    

How sad. I always felt very sorry for him, as is wife was such a user. He never looked happy, and really never looked like he wanted to be on the show. It was clear that he just wanted a quite life, and not this big show that she wanted. He was just trying to make her happy, and she used him, and threw him under the bus. I hope shes happy now.

1059 days ago
117.

JMJ    

No more face & lip disfiguration surgeries for this broad.

1059 days ago
118.

A.J. Grossman III    

I wonder if the outcome would have been different if the couple had chosen to utilize collaborative divorce? With a team of professionals, attorneys, mental health practitioners, and a financial professional, this terrible situation may have been avoided. We will never know.

A.J. Grossman III, J.D., LL.M.
Attorney at Law & CEO of Grossman & Grossman P.A.
http://www.thegrossmanlawoffice.com
http://www.thegrossmanlawoffice.com/adr_blog/

1059 days ago
119.

Bijou    

I never saw Russell as the villain he was made out to be. Just because he didn't feel comfortable partying, and hobnobbing with rest of the cast, and their friends. What I saw, was a shy and quiet man, stressed out from trying to support a lavish lifestyle, which included spending 50 thousand on a 4 year old child's birthday party, when all he really wanted to do was the normal thing, and get her a puppy. Through it all he had his wife openly complaining about him on national TV, that he wasn't into having fun like her. The pressures he felt had to be overwhelming. The overspending and financial obligations caught up with him again, and this time he was served with divorce papers. It's sad, but I'm not really surprised at all this all ended. I hope their daughter will be alright. Right now, she needs comforting, not lavish living

1059 days ago
120.

Shin    

Women, we are usually mentally stronger. We must especially learn and support our husbands. Men focus hard the financial department. The ability to provide for their family is a vital part of their survival. Although situations differ of course, but if a man is physically or mentally abusive, finding out the cause and why are good starting grounds in a relationship.

1059 days ago
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