Teresa Giudice Bankruptcy

Jacqueline argues with Teresa - Again!

You know the old adage, It takes one to know one? That pretty much describes Jacqueline Laurita and Teresa Giudice to a tee!

On this week’s episode of Real Housewives Of New Jersey, Jacqueline and Teresa argued over whose bankruptcy is the worstest and who is the most very bad, awful friend.

In her blog, Jacqueline continues to insist that she is like totally operating in reality and is the speaker of the truth, and insists she’s really disappointed she and Teresa, again, found themselves rehashing the past “just like the good old days”!

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Teresa Giudice in a maroon dress

In the case of Teresa Giudice it’s once again, No Money, Mo Problems! Hey – stars, they’re just like us! Teresa and Joe Giudice cannot get their finances together no matter how money they earn, how many professionals they hire, or how many months they spend in prison!

Last year Teresa and Joe were nailed with a $551,000 tax lien, and this year the State Of NJ is after them for owing another $250k in back taxes. People it is not that difficult. I mean: GET TURBOTAX! Or maybe the issue comes in the writing the checks portion of the exchange? Anyway… the Giudices are again in trouble for not paying the IRS. 

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Teresa Giudice Bankruptcy

One step forward, two steps back in the designer shoes Teresa Giudice couldn’t afford but bought on credit she never intended to repay… a federal judge has decided to reopen the Real Housewives Of New Jersey star’s $13.5 million dollar bankruptcy case.

The reason Teresa spent a year in prison, and the reason Joe Giudice is currently behind bars, is the result of being found guilty of bankruptcy fraud. Shortly before Teresa got locked up, a judge decided to close their bankruptcy, meaning Teresa and Joe were liable to repay their creditors. 

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Teresa and Joe Giudice

Owning a home that was once in possession of Teresa Giudice is apparently not a big draw to buyers on the New Jersey foreclosure auction circuit! 

Teresa and Joe Giudice‘s Lincoln Park home, which they owned as a rental property, was auctioned off this week and even with the bidding beginning well below estimated value, there were no takers! 

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Teresa Giudice celebrates New Years after prison release

The financial hits keep coming for Teresa Giudice! Let’s hope her memoir sells well because girlfriend is broker than broke. The latest – Teresa and Joe Giudice‘s Lincoln Park New Jersey property – used by the couple as a rental – will be sold in a sheriff’s auction. 

Teresa and Joe listed the property as an asset in their failed bankruptcy filing – the very one that caused the Real Housewives Of New Jersey stars to wind up in prison – but now the property has lapsed into foreclosure. 

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Teresa Giudice offered big bucks for post prison interview

Will the money woes never cease for Teresa Giudice?! Just days after saving her mansion from foreclosure, the IRS hit Teresa with a $551,000 tax lien. Well, $551,563.00 to be precise!

It looks like Teresa will be spending her Real Housewives Of New Jersey paycheck before she’s even earned it. In October the IRS filed a lien against Teresa and Joe Giudice seeking recoupment for nine years of unpaid tax bills. 

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joe and teresa deal with indictment

Teresa Giudice and Joe Giudice have been battling foreclosure on their “re-done” Montville mansion for years. Their recent last-ditch effort to halt the foreclosure process has been denied! 

During their bankruptcy proceedings (which led to their federal indictment and imprisonment) Teresa and Joe were allowed to retain possession of the home because they owed more than it was worth. Unfortunately with all their other financial issues the couple couldn’t make the mortgage payments of $10,679 per month and as of December 2014, lapsed into foreclosure. Again. 

With their house in foreclosure, Teresa and Joe have been trying to sell at $2.99 million with no takers. Apparently no one wants to live in the fraudulently gilded remains of failed delusions of grandeur. Last week the indebted Real Housewives Of New Jersey couple attempted to contest the bank’s foreclosure proceedings, but had their request denied. 

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Teresa Giudice hawks Fabellini

Despite a court report stipulating that federal prosecutors were lawfully allowed to seize Teresa Giudice‘s assets to satisfy her restitution debts, Teresa’s out-spoken attorney James L. Leonard Jr. denies that’s that the case!

Teresa owes more than $400,000 in federal restitution as part of her sentence for bankruptcy fraud and conspiracy to commit mail and wire fraud. A court order showed that prosecutors made a deal with the Real Housewives Of New Jersey star to turn over a 25% portion of her Bravo paychecks, along with 50% of her income from a rental property she owns, in addition to seizing her personal assets, such as her 2005 Maserati  and furniture from her NJ mansion (currently in foreclosure and on the market.)

Mr. Leonard explains that contrary to reports, that deal was arranged by Judge Esther Salas and prosecutors as a ‘just in case’ Teresa didn’t make scheduled payments – which she has been. 

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