Spelling, 43, and McDermott, 49, who are parents to Stella, 8, Hattie, 4, Liam, 9, and Finn, 3, recently downgraded from their Calabasas mansion to a smaller home in Encino.
Spelling addressed reports of financial trouble in March after failing to pay an outstanding credit card balance of $37,981.97, telling WHO the stories began after she wrote her 2013 book Spelling It Like It Is.
"It was one chapter. I thought I was being relatable, talking about how celebrities go through financial struggles, too, we make mistakes, too," she said.
"We're not perfect, we have made a lot of choices financially with real estate that didn't work out ... and that just escalated into this story about financial struggles, bankruptcy. To this day that haunts me!"