Documents: Real Housewife Owes $13.4M
Giudices have just $140K in equity in $1.7M home
By Evann Gastaldo, Newser Staff
Posted Apr 10, 2014 10:02 AM CDT
Teresa, left, and Joe Giudice, from “The Real Housewives of New Jersey,” leave federal court in Newark, NJ, on Tuesday, March 4, 2014.   (AP Photo/Rich Schultz)

(Newser) – The bankruptcy trustee overseeing Teresa and Joe Giudice's case submitted its final report this week, and it shows that the Real Housewives of New Jersey couple owe creditors $13.4 million and have repaid just $7,500 of their debts. The documents also reveal the Giudices' apparently luxurious lifestyle was one they had almost no equity in, the New York Daily News reports: They had just $140,000 in equity in their $1.7 million house, and no equity in their two other properties, their Maserati, their Cadillac Escalade, their Ford 350, and pricey "toys" like a Sea-Doo, a Kawasaki quad, and two go-carts.

Though TMZ and Radar report that the bankruptcy judge will erase the couple's millions in debt (but both still face prison time for bank fraud; they'll be sentenced July 8), the Star-Ledger and say that's not so. They report creditors can now pursue the couple; a bankruptcy attorney not connected with the case says, "They are going to owe whatever they owed ... They're completely stuck with their debt." As evidence, perhaps, of how hard-up she is now, Teresa Giudice was recently charging $25 a pop for an autographed copy of her book ... and would only accept cash.

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Apr 13, 2014 2:48 PM CDT
I don't have anything to add to what almost everyone else has said about the Guidices' bankruptcy and spending habits but I don't understand why Teresa can't use her vast resources to get a good haircut. She's way too long in the tooth to have this much hair, it makes her look even older. A streamlined, just-above-shoulders cut would make her look so much better, imho. It might even reduce the emphasis on her extremely low forehead. Apart from that, Bravo is embarrassing itself by continuing to reward these two grifters for their fraudulent behavior. Are the ratings all that good? I haven't watched this show (or any of the 'housewives') in a while but it's hard to believe there are that many people who tune in to subject themselves to these infomercials featuring pathetic, bad-behaving, ill-mannered, poorly-spoken people. The only Bravo show I bother with is Jeff on Flipping Out, and if they ever come back on, the L.A. real estate guys - they were a hoot, especially the Holocaust-survivor grandmother.
dj j
Apr 12, 2014 10:49 PM CDT
Hey Donald Trump has filed for bankruptcy 5 times,,and he is still walking around acting like he is the smartest richest man on earth Yet if he would have had to pay the 20 BILLION dollars,he would be broke now. The first bankruptcy was 5 billion, and then he filed bankruptcy again just 2 years later for 7 Billion. How he is allowed to get that much credit that quickly is beyond me. It must be nice to charge 24 karat faucets and buy anything you want, because you know it will be dishcharged in banktruptcy
Nab TL
Apr 12, 2014 7:45 PM CDT
they deserve it after what they done to other people defrauding banks and loan companies. living the high life and now she wants to not pay her debts.. they need to empty out her bank accounts and take her home and everything so this debt can be paid..