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Ah yai yai, another Bravo housewife bites the dust! In somewhat shocking and not so shocking news, the NY Post is reporting today that Teresa Giudice, star of the Real Housewives of New Jersey, has filed for bankruptcy alongside her husband.
Even more shocking? Teresa and hubby Joe Giudice owe nearly $11 million dollars, and have their income listed at only $79,000 a year. And it doesn’t end there. Teresa’s home is also in foreclosure, and yes this is the same $1.8 million, 10,500-square-foot home Teresa was shown moving into during the first season. The bank has started the foreclosure proceedings.
The NYPost refers to the Giudices as “real-life deadbeats” who “are up to their tanned necks in liens, foreclosures and unpaid bills.” In bankruptcy papers filed in Newark federal court, the Giudices say they owe their creditors an astonishing $10,853,648.04.
Teresa and Joe have also defaulted on their $1,280-a-month payment for the family’s luxury black Cadillac Escalade.
It gets even worse folks. The banks have also foreclosed on other homes owned by the couple, including a $279,000 four-bedroom Jersey Shore house. The Giudices are said to have had three mortgages on the house and owed $325,000. Also foreclosed on is a $200,000 home in Lincoln Park, NJ, that had four mortgages — and an outstanding debt of $600,000.
And despite being shown on their Bravo reality show as spending thousands and thousands of dollars on their kids’ clothing, Teresa and Joe claim to spend just $400 a month on clothes in court papers.
As for their income, Joe has his monthly income listed at $3,250; while Teresa lists hers as $3,333. The couple also lists another $10,000 in “monthly assistance from family members.”
And oh yeah, Teresa also owes nearly $20,000 to Bloomingdale’s, Neiman Marcus, Nordstrom. Their credit card debt alone is listed at $104,000.
TELL US – ARE YOU SHOCKED? WHAT ARE YOUR THOUGHTS ON TERESA’S MASSIVE DEBTS?
UPDATE: Teresa, who appears to not be in denial at all about her $11 M debt, posted the following message on her twitter Saturday -
“A huge THANK YOU to all my fans for all your love and support. Joe & I are just fine and will continue to be. ♥♥♥from our house to yours! xx.”
Wonder which one of their foreclosed houses that is… But it is nice to know Teresa and hubby Joe will continue to be fine, while the rest of society is forced to incur their irresponsible debt.
Congratulations!!!
A Fresh new start in your beautiful new home.You and Joe are smart and looks like you did your homework and Reorganized. Many Americans have done BK and the others who have not simply do not understand.
The economy sucks.
LoveLoveLove you all!!!!
Oops HATEHATEHATE that BITCH BEVERLY/ANGELA/DANNIELLE who knows who or what that horse face thing is.
Someone need to take those poor beautiful children away from it ASAP.
On last night’s show, Joe was showing Theresa the apartments above his new pizza place. Was he kidding when he said it may be their new home. If he knows something she doesn’t know, she could be in for one huge surprise.
Joe had more camera time last night than ever before, but he’s still a doofus. And, what’s with their girls, they are very mean to each other and have outbursts of anger, which is a sure sign of very unhappy children. I see therapy in their future.
That being said, I will continue to watch the show because it is entertaining, after all.
I refuse to sit here silently “if” they get to keep any of their homes! Yes, I am talking about their 10,000 sq. ft house mostly. They wont be able to handle the monthly electric bill, mortgage and up keep with what they make….come on!!!! they have 4 kids to raise and what is this teaching them??? borrow from family members to live life large and fall on your face, let other people pay for it and keep spending the money they don’t have? this is not good parenting. If it were me i would move on in a house I could afford comfortably and raise my kids with dignity knowing I can provide with the monI make! Get real…they deserve everything they get, but, we don’t deserve to swallow the cost in their exspensive lifestile. CUT BACK PEOPLE AND GET REAL
What a shame that these people do not understand that we are in a recession and that we have thousands of families trying to make ends meet. That there are children going to bed hungry.
Where is the justice in all of this. It makes me wonder how true it is that “the criminals are treated as victims and the victims are treated like the criminals”.
All of this makes me sick to my stomach and it breaks my heart!
maybe now Teresa, instead of flipping tables, you can start waiting tables. lol you flashed hundreds of thousands of dollars of cash on the first season….like some mafia wife. Serves you right. Wonder what the IRS has found out.
Teresa, u should be embarrassed. But, due to your ignorance on your finances, you are in denial. I see why you choose to go around bullying other individuals. It takes the flack off of you!! You are truly a depressing, miserable, joke and you need to contact a Credit Counseling Company to manage your finances. I feel sorry for your children for probably being made fun of by friends due to their parents’ irresponsibility.
In case anyone is interested: There will be an auction of the contents of Theresa’s mansion on August 22nd. The furnishings are georgeous, and my guess is they didn’t pay for any of them.
BTW she says the home is worth $5 Million, but others are saying it’s more like $1.5 million.
Well, the two most pathetic parents will be back again for S-6 of the OC Housewives. Yes, more fun in the sun for these idiots who think they are “All That”
I really feel sorry for the kids. Two stupid parents that care only about themselves. I would think George would have learned a lesson after his real “Bully” life was exposed and he made Lauri quit the show. But George is the epitomy of Stupid….Doing the same thing over again, expecting different results!
I think his business is in the toilet but so is his brain and possibly his marriage to the most reviled woman in the OC Housewives history.
they KNEW what they were doing……………….They KNEW they were livin BEYOND their means and WE are footin the bill. I wanna to see EVREYTHING carted out of the french country mansion and delivered to the apartment above the pizzeria.
Im with others that this litt’le girl needs a smack down. amazing she has been allowedd to get away with what she and joe has been doing. She is not only just plain stupid, commen sense or book smart, but an ugly accident is going to happen. A tic.tic.boom (Im borrowing) but applies.
When is the authorities, whether state or federal going to look into this (wink, wink) ‘Under the table’ non ethical lifestyle?
ok so they both spent tooooo much and so have we all but not to that degree…………..but we are the good old USA and we come to the aid of all that is in trouble,,,lol
So for lack of anything else to do except housework…..I looked up her on line store…..and for less than 30 bucks we can get a great ring that looks great and we can help them pay for the new apartment they are soon to be in…….we do not want to see those little girls on the street do we??
so http://www.tgfabulicious.com
Yes I know it was stupid but I got a very pretty ring and saved gas by shopping online, and would have spent more on QVC for one while I was bored and not able to sleep and besides I was helping children…….:LOL
Wait…hold up….stop the presses! You mean they’re in debt? I owe over six figures on my student loans, GM went bankrupt and so did a whole lot of other companies. Thats one of the risks you take when you want more, you lose some but you get back out there and start all over again besides, $11m in debt ain’t ish when you know where to get more of it yet tighten up on the spending, eh hm Ms. Teresa didn’t need another diamond ring for their 10 year anniversary if they have a BK…the world didn’t need to know that part. love you!
I think this is just DAMN SAD who knew if she actually knew of this do you see how she acts on this show she is an AIR HEAD! HANDS DOWN! GHETTO AS HECK OMG! Like for real Teresa!
Running a construction company and owning lot’s of property you can hide all of your income construction is one of the biggest markets that got affected by this poor economy, I believe Joe and Teresa still have money but they are cutting away all bad properties that they have so people don’t believe everything you read and the media is the biggest liars out there that’s all
They are jerks just like all the rest of those housewives in every season!!!! I sit and watch this crap with my wife just to see how stupid and pathetic they all are. If anyone watches these idiots and buys into their lifestyles then they are just as ignorant. There are a handful of these women, a very small group, that legitimately make their own money. Those I can respect. All of the others need a strong reality check like Teresa and the other 2 housewifes from OC and Atlanta that had to go through the same.
GET A JOB!!!!! HELP YOUR HUSBAND’S AND BE TRUE PARTNERS AND NOT JUST MOOCHERS IN DESIGNER CLOTHES!!!!!
Monarch,
epitome is not spelled with a “y”
461 Rose romine:
Are you on crack or what! Are you related to those two losers? It sure sounds like it. Spending money on Teresa’s website to support them? How hilarious!
I dont give a shit about all the gossip,I love Terasa and Joe. If they are going broke ,who cares,actually who isnt !!!! You have a beautiful family and people are just jealous. I love you guys ,good luck and God bless you! Love,Lola
that’s what she gets for flaunting and bragging. ha, ha..she’s a stupid bitch.
They both need to be deported back to Italy. Obviously they cannot live in reality. Sad and SICK! that much debt and that huge house! I hope they are sucked dry of all their remaining assests to pay their huge DEBT. Disgusting and she is also a horrible actress who cannot speak a sentence without screwing up. BRAVO TV- send them back to Italy with nothing. They deserve nothing anyway. just by the way they live is the reason why.
Lola,
No one is jealous of the Guidice family. We are all just annoyed and offended that they can lie, cheat and steal and live the high life at other people’s expense.
Theresa may be a likable person, but she is responsible for cheating other people out of their money, $11,000,000 (11 million $$$).
They deserve to lose it all. If you were one of their creditors, your comments would be a whole lot different.
Teresa, be humble and start all over. Life is worth so much more than just “stuff”.
Teresa Guidice is the phoniest big mouth I have ever encountered. Her attack of Danielle shows her lack of class. I find it appalling that she had the audacity to spend millions of dollars she doesn’t have and when she is unable to pay “conviently” files bankruptcy. Deadbeats like her should be made to repay every brass farthing owed. I remember her saying that owning someone else’s home is disgusting. Therefore she and her husband found it necessary to build a 10,000+ square foot home on a yearly salary of $79,000 (which is probably a lie as well since everything coming out of her mouth is untruthful).
Honey, buck up and pay like the rest of us. Downsize your expenditures and teach your daughters the morals I believe your parents attempted to teach you. Gia is a snotty, spoiled little girl as is Milania who acts just like her. From what I can see, Gabriella must be like her father in that she must have somewhat of a conscience. We can only pray Audriana is like her.
I wonder if the reason Tersea doesn’t get along with her sister-in-law, Melissa, is because Tersea’s brother is the one giving the Guidices’ money?
TO: LOLA MILLER…..YOU WOULD BE SINGING A DIFFERENT TUNE ABOUT JOE & TERESA IF THEY OWED YOU BIG TIME MONEY….THEN IT WOULD BE….HATE, HATE, HATE…DUH!
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Theresa and her husband should be ASHAMED of themselves. Filing for bankruptcy is the cowards way out. What about their creditors???? Why should they suffer just because The Giudices decided to live way beyond their means. It makes me sick
Jail time for Joe Guidice! Teresa should live above the pizza shop, and ALL profits from her book and her appearances on Bravo should go to pay their creditors! Their behavior is not just irresponsible, but criminal.
Does anyone know the name of Joes pizza place and the city that it is in?
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