Teresa Giudice Bankruptcy

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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Reality TV News Teresa Giudice headed to Danbury

Teresa Giudice is broker than a joke and while she’s in prison she’s not able to earn any money. So what’s a Real Housewives Of New Jersey star to do? Give the feds her worldly possessions!

Teresa relinquished her 2005 Maserati (why she still had that when she was $13 million in debt is a complete mystery!) along with a portion of her RHONJ paychecks to satisfy her restitution debts to the feds. 

On Friday, federal prosecutors obtained the rights to seize the Giudice’s property or cash in order to satisfy their outstanding restitution debts. Teresa owes the federal government $414,588 as part of her sentence for mortgage and bankruptcy fraud.

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teresa giudice is sad and depressed before prison

UPDATE:  This has been confirmed as a FALSE REPORT.   Vicky Hyman of NJ.com writes, “Matt Reilly, the U.S. Attorney’s Office spokesman, says his office is continuing to work with the couple to schedule repayment, and has not ordered any such seizure. Anyone went over there under official capacity, it would be under us.'” 

The denials continue to pour in regarding an alleged raid on the home of Teresa and Joe Giudice.  See the links below.  The Sheriff’s office, the US Attorney’s office, Teresa’s lawyer, Joe’s lawyer and more have all firmly stated that no such occurrence took place and say the stories are 100% fabricated.

Links below:

dina's psychic gives teresa a reading

Teresa Giudice is a victim yet again!!  The Real Housewives of New Jersey star is suing her bankruptcy lawyer for malpractice and is demanding $5 million dollars in damages. 

Teresa claims that her bankruptcy lawyer flubbed their paperwork and failed to disclose things on the documentation.   In the suit Teresa says that it was his failure to include important things like rental income, other bank accounts, etc and that’s the reason the investigation got triggered. 

wwhl andy and giudices

Well I know what I’ll be doing tomorrow night! Bravo seems to be cashing in on everything Giudice now that the stars of Real Housewives of New Jersey are heading to the clink. I have to admit, I am still a bit of shock to think of Teresa Giudice serving actual time. Something tells me that Juicy Joe wasn’t surprised to hear his sentence. I feel like he’s been dodging the law for so long, it has to be a bit of relief to get to stop running.

Of course, the Giudices (and the network that introduced them to the world) want to proactively handle the insane publicity that is sure to intensify as we countdown to Tre’s lock-up. Andy Cohen is no dummy. He’s going to milk this for all it’s worth, and he’s already teasing the Giudices’ Monday appearance in the clubhouse on the heels of Teresa canceling her public appearances.

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