Oddly enough, the Real Houswives of New Jersey star was just shown denying that her debt amount was $11 mil during the reunion episode that aired Monday night. Perhaps Teresa has decided to stop living in denial.
“I was humiliated,” she tells the mag, stating she was not aware of her husband’s business dealings and had no idea they were in so much financial trouble until their lawyer told them they needed to file for bankruptcy. “Joe thought things were going to get better,” she explains.
Joe also comes to his wife’s defense in the article, citing that his bad business dealings was to blame for their enormous debt, and not Teresa’s widely publicized spending habits, which includes spending over $50,000 on home furnishings just days after filing bankruptcy. “It was tenants not paying rent, and it was a bad situation with my business partner,” who betrayed him and continues to tell lies about him, Joe claims.
The Giudices however seem to contradict one another as Teresa admits to the mag her spending habits were out of control. “My wedding was incredible,” she recalls. “My flowers cost $10,000, which was a lot of money ten years ago. My dress was around $10,000, my photographer, too.”
Teresa also admits to lavish parties, trips, a $140,000 Maserati, as well as spending hundreds of thousands of dollars on home furnishings and clothing for herself and her four daughters.
And when it comes to the auction that is still set for October 3, it seems Teresa remains in denial as she states there is currently no auction in the works.
So is Teresa’s $4 million dollar home in foreclosure or at risk for foreclosure? “We haven’t lost anything yet,” Joe says, also adding that they still own their beach house. Nice to see the Giudices still own their beach house, must say these people need better PR lessons.
Teresa and Joe however claim they have learned from their mistakes. Joe says he has taken control of the couple’s finances, does the grocery shopping, and has even imposed a limit on Teresa’s credit cards. Teresa also adds that their daugthers have now gotten used to wearing each other’s hand-me-downs.
You can read more of this story in the latest issue of InTouch magazine.
TELL US – ARE YOU BUYING WHAT THE GIUDICES ARE SAYING IN INTOUCH MAGAZINE?