Real Housewives of New Jersey star Teresa Giudice bankruptcy filing reveals massive overspending
One of Bravo’s ‘Real Housewives of New Jersey’ stars, Teresa Giudice, seems to have overspent by leaps and bounds according to bankruptcy papers filed in Newark, New Jersey.
According to Radar Online, Giudice and husband Joe earn just $79,000 a year, but live like millionaires.
The tabloid reports that the bankruptcy documents filed indicate the couple is $11.8 million in debt, resulting from $2.6 million in three mortgages, $5.8 million in investments made by Joe, and $12,000 owed to a fertility clinic.
In addition, the Giudices have over $100,000 in credit card debt, and also owe the phone company over $2,000.
Despite this, on the 'Real Housewives' hit reality series, Giudice has been seen getting breast implants and buying outrageously expensive clothing for her little girls. Furthermore, during filming the family was shown overseeing the construction of a multi-million dollar mansion with lavish accoutrements.
Radar reports that last year the couple’s dire financial situation came to light when one of their homes was foreclosed on.
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Comments
how is this possible? who is capable of accessing millions of dollars in assets with a mere 79,000 per year income? pas possible.
If that is their reported income on their bankruptcy filing, it has to be a lie. I make MORE than them and barely qualify for a mortgage in this credit climate...no way would they even be able to acquire that much debt. No one would approve them.
Dear Teresa Giudice:
You are sending money like U.S. Federal Reserve Bank! Here is my present for you Teresa! I will give book of Robert Kiyosaki and Anthony Robbin to you! So you don't wind up with $13 trillion in debt like U.S. Federal Government!
There was also mention in another article that they jave $10,000 income per month from their families. What family would give them $10,000 a month? Kind of suspicious. I feel problems are going to arise with their bankruptcy filing because of what has been shown on the show.
They have obviously lived a lavish lifestyle by spending the $5 million they have recieved from Joe's business partner. They don't have any money at the moment to repay $100,00 credit card spending, meaning it's all dried out. They did however have $120,000 in CASH to spend on furnitures last season, which means they were spending other people's money this whole time on tv.
The minute Teresa paid in cash for all the clothing and Joe also showed cash for furniture, I knew they had a business that would only give them cash and report losses. That was such a stupid move on both of their parts. Of course, they have hidden assets.
Well, while Teresa spends her time bashing the wives of NYC, her new hobby, we know she's not the brightest bulb in the bunch.
She doesn't need a book, she's needs a brain.
Dear Teresa: You were my favorite when the show started. You are now my absolute least favorite. You have put yourself in the Danielle category. You always say you don't care what people think... well, honey, it's apparent that you don't have the ability to think at all! Your daughter, the wannabe actress, really needs an education and a lesson in being humble and it's obvious you are not capable of teaching her either so I doubt the acting career will be in her future unless it's a family reality show or soap opera. Your beauty has been replaced with ugly just because you open your mouth and, as you say, you don't care what people think. Start caring, because mos t of us don't care to see you anymore! Good luck with your bankruptcy. Not an easy thing to go through and I'm sure you won't care what people think anyway... right?
Teresa. You need to get your act together. You can't let your girls grow up thinking that they can have anything they want at anytime they want, especially if it is too expensive. I think that that was where you went wrong. Just teach them some discipline and get a jo of your own (one other than being a mother-in that case you'll have two jobs).
I totally agree with Anon. There is not way you can borrow so much money with such little income. The show is the worst on TV. Filled with ignorant people acting as if they are the cream of the crop. From the parents to the children, they are all as stupid as they come. Great job housewives! you really know how to stink it up.
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