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$40,000 a month isn't enough for Linda Bollea

CLEARWATER — Linda Bollea's bank account has dipped below $200,000, according to her lawyers, and she desperately needs money to keep up her lifestyle and legal case.

On Thursday, divorce attorneys for Linda Bollea and Terry Bollea, a.k.a. Hulk Hogan, pushed back and forth over whether Linda should get a disbursement of $400,000 from the couple's frozen assets.

They ultimately agreed to give her the money, though it will be deposited directly into an account controlled by her lawyers and used only for legal costs.

"They know she's out of money," Linda Bollea's attorney, Stephen Thacker, said of the opposition from Hulk's side. "We're really down to the end." The couple has $7-million in cash frozen in accounts pending the outcome of the contentious divorce.

Linda Bollea is currently receiving $40,000 a month in temporary alimony payments, but the costs of her lifestyle and her legal defense mean that her bank accounts continue to dwindle. As of Oct. 30, she had just $186,000. And that's not including what she spent in November, Thacker said.

According to the court hearing, Linda Bollea has spent $850,000 on legal fees so far. Terry Bollea has spent another $1.6-million, including money he paid for his son's legal defense in the reckless driving case against him.

Outside the courtroom, attorney David Houston accused Linda Bollea of wasting money on a lavish lifestyle of five-star hotel reservations, first-class travel and other expenses. In court, he said there were tens of thousands of dollars unaccounted for in Linda's spending and dubious expenses, such as $4,000 paid to a friend for pictures of Linda and her dogs.

Houston told the court that the family faces "horrific" liability from a personal injury lawsuit resulting from Nick Bollea's car crash last year and Linda Bollea needed to be more careful with money.

Thacker argued that Terry Bollea was making money — $2.9-million in 2008 — and that it was unfair to deny Linda Bollea the ability to meet her expenses.

Jonathan Abel can be reached at jabel@sptimes.com or (727) 445-4157.

$40,000 a month isn't enough for Linda Bollea 12/11/08 [Last modified: Monday, December 15, 2008 2:52pm]
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