Teresa Giudice

Teresa Giudice & Joe Giudice Off The Hook In Bankruptcy!

Finally some good news for Teresa Giudice in the legal department! Approximately 10 years (and two prison sentences) after she and Joe Giudice filed for bankruptcy they’re finally off the hook and their debts mostly expunged. Should we celebrate with some rancid Fabulicious wine?

The Real Housewives Of New Jersey star, who’s found solace in bodybuilding, returned to court last week and learned that a judge had finally dismissed her bankruptcy case! While this doesn’t mean Teresa and Joe are completely out of debt, TMZ reports that the majority of their financial obligations are no more. 

Teresa and Joe still have two outstanding creditors, however, creditors who are exceptional at chasing down their money! That would be the IRS and the NJ Department of Treasury. Since the Giudices already have a payment plan arranged with the agencies, and aren’t in arrears, a judge no longer feels the need to babysit their bill paying. Really…

Teresa and Joe initially declared bankruptcy way back in 2011 where they claimed approximately $13.5 million in debt. Unfortunately for them they were making all sorts of shady financial decisions – which Teresa later blamed on Joe – and the trustee overseeing the proceedings accused them of fraud. Joe is currently in prison serving a 41-month sentence, while Teresa served 11 months two years ago.

Luckily the Giudices have managed to repay most of their creditors, which is likely why the bankruptcy was ultimately dismissed. However the Giudices fault their former bankruptcy attorneys for their financial mess and are suing them. That case is still unresolved, but what this means is that if she does succeed in getting a settlement none of her former creditors can seize it! Holla.


[Photo Credit: Bravo]