Well, I’m excited to finally report some positive news concerning Teresa Giudice’s finances!
As you recall, on Monday the Real Housewives of New Jersey star’s husband, Joe Giudice withdrew his bankruptcy filing after controversy over allegations the Giudices had lied about their assets and income at the time of filing. Joe was at risk of facing criminal prosecution related to bankruptcy fraud. Teresa still potentially faces those charges, as she has yet to withdraw her filing, although sources report she is planning to.
Now, onto the positive! In a new interview for PEOPLE, Teresa’s attorney Jim Kridel reports “Teresa and Joe are happy about this,” and Teresa feels ” ‘vindicated’ to be voluntarily paying her remaining debts rather than have them discharged in bankruptcy court. (They will move to settle the case later this week.).” Wait – what?! Did I read that correctly?! Why, yes, yes I did.
Mr Kridel continues “Teresa has always wanted to be able to say that she paid her creditors.” The Giudices however had a hard time doing that as they owed a seemingly insurmountable amount of money related to multiple mortgages on several inner city apartment buildings, bills for building materials, and the balances on their various credit cards which accumulated to about $11M in debt according to their bankruptcy filing.
“Almost all the debt in the bankruptcy was Joe’s debt,” Kridel claims. Apparently, the smaller debts and credit card bills, which totaled around $100,000, were attributed to Teresa, and her lavish spending and out of control need for anything covered in glitter, lace, or marble, who “wanted to pay,” however once the Giudices filed bankruptcy their creditors were not allowed to be paid “preferentially.”
The article explains that as of now several of the banks have been repaid from the sale of the apartment buildings listed as a liability in their bankruptcy filing and Joe has also paid the $586,000 claim against him from his former business partner through a building’s sale; leaving the Giudice’s remaining debts “within a manageable range.”
With her many business ventures (including a make-up line and bottled cocktail) Teresa is no longer completely broke. Teresa “may not be able to pay all [her creditors] with one check, but she can pay them back. She wants to do the right thing,” her lawyer articulates. No word if Joe is currently employed, but at least his wife is bringing home the bacon and attempting to spend it wisely!
According to Kridel, who gave this interview with dollar signs in his eyes, “The cost of litigation might exceed what she owes.” Well, hopefully they won’t default on that bill…
Photo: WENN
Do you believe Teresa that she wants to repay her debts? Are you as shocked as I am that she supposedly wants to do the right thing? If Teresa does, in fact, repay her creditors the old-fashioned way would this give you a more positive opinion of her?
