Real NJ Housewife Teresa Speaks Out on $11 Million Debt Rumors
Credit: Bravo
Talk about table-flipping.
Outspoken Real Housewives of New Jersey star Teresa Giudice was the subject of intense rumors over the weekend following reports that she and her husband Joe were over $11 million in debt.
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The 38-year-old mother of four -- whose palatial new home and cash-only shopping sprees are documented on her hit Bravo show -- addressed the talk in a statement to UsMagazine.com.
"While this is a personal matter, I realize that certain aspects of my private life will always be subject to scrutiny and distortion," Giudice says.
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"What is true is that due to the economy, most of my husband's real estate ventures failed despite his hard work and effort. As a result, we looked to the Bankruptcy Court for a 'fresh start.'"
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She continues: "When people fall, the way to success is to get up and learn from our mistakes. We are in that process."
Tell Us What You Think
160IRS please audit these criminals. They stink of undocumented money, wanna be gangstas. Come and get me joe you half pint!
people need to get offher back.... all of these comments are stupid!!!!! Teresa u are a beautiful person inside and out keep being a good mother and shake all the HHAAAATTEERRRRSSS off!!!!!!!!!!!!!!!!!!!!!!!!
Teresa, please do not critize Danielle. You are not a good role model for our children and you have a very foul and trashy mouth. You obviously were not taught manners and how to be a lady. All the money in the world cannot make you a refined lady. Dina is truly a refined woman. Learn from her.
It's clear to me that she is pinning her financial ruin on the recession, and while that may be true for most...this is clearly NOT the case with Teresa. This woman and her family are clearly living well beyond their means, everything that they do is a show to show off their wealth and so forth! What's even more repulsive is that this couple WILL NOT EVEN ATTEMPT to pay off their debts. Despite bragging, ON TELEVISION, no less, of their spending! Those Louboutins on her feet can clearly be used towards her bills! These people shouldnt be allowed a FRESH START, they are just FRAUDS!
This woman proudly informed America she has sex with her husband every day and sometimes twice. The night she flipped the table, it excited him so much they had to do it right then. It's easy to see why they went bankrupt, they're too busy screwing.
her daughters are sooo rude and spoiled BBBB RRRR AAAA TTTT SSSS BRATS TO THE HIGHEST POWER
Teresa is TRASH!!!!!!
She looks like a man.
I agree with a lot of the other comments.How can you NOT KNOW you are overspending..and all in cash. No deposits, no trail to audit. Way too over the top for furniture, clothes, cars and feel you are giving your children way too much that is not deserved. What about future savings for their education and public school would be a great way for them to interact with the REAL people of the NJ SCHOOL KIDS. I'm sure they have clothes they never even wear. They are rude and tell the Mother what to do when it comes to the shopping escapades.They will whipping her tail in a couple more years. AND let the bank recover some of the items to recover some of the monies owed. WE "small" people would get cleaned out. I'm so tired of the "famous" getting away with sooo many things the common tax payer ends up paying our way AND theirs. Everything with a hang tag still on it, TAKE IT back and pay your bills. I sleep in a nice bed as a back patient, but I'm sure the whole bed was less than your night stand.Slow is way down,keep your own housework up,cook at home instead of footing the bill for tables full of family out...NOW WHO ARE YOU IMPRESSING IN THE STATE YOUR LIFE IS IN!!! Start setting a good example for your family.
to quote another blog's comment which I agree with: "The truth is in the paperwork filed in NJ. It illustrates how these two have mismanaged their lives just to be able to show off their goodies. How much did that ridiculous birthday party cost and was it necessary? How much marble did she need to live in a home that she [they] cannot afford? How much clothes do those kids need when spending $2,000 a clip in one store? Why isn't his income of $79.000 a year good enough that they need a "family member" to contribute another $10,000 a month to survive? Cut it out! Filing for bankruptcy while overspending on nonsense as she does is a crime. Someone has to pay and it will be us, the taxpayers and credit card holders whose rates increase to cover scammers like Joe and Theresa." bygones | June 5, 2010 11:30 PM my 2cents: THE AMERICAN PUBLIC IS INDIRECTLY FOOTING THEIR BILL and OTHER DEADBEATS LIKE THEM. They are shammers & scammers living high on the hog on our dime(s)!
feekoningin are you their attorney??? What are you getting out of the deal? Why dont you pay for the bankruptcy personally like we all will have to in one form or another, then I bet you will see it from another view? Oh ansd show me an 11 million dollar mortgage where a monthly payment alone is under $80,000, that doesn't cover taxes and homeowners insurance alone, what freakin planet are you on? The range rover by it's self was $80k I guess they saved up ALL year to buy that in cash???
come on people, don't take this story at face value. There is some serious planned fraud occurring. They didn't make only $79000 last year, they just had to file that way so they could file the correct bankruptcy (chapter 7 or 13). So they could qualify without having to liquidate. What a scam! And she was absolutely in on it. Spending all in cash is no accident. Also, have you considered the fact that their filing on their "failed business ventures" means they don't pay the little guys they owe too? No, not nordstroms, contractors, etc. They are cheating their fellow man as well as the credit card companies. Aweful! and they will keep all their stuff! Just because it is legal, doesn't mean it is honest. I hate to be them meeting their maker. Do unto others! Thank-you for raising our rates and letting americans pay for your lavish lifestyle.
Bankruptcy is a business decision, not necessarily a moral failing. Companies routinely break contracts because it's the right thing to do for the business. Bankruptcy, in essence, is breaking a contract because it's a family business. Also, it's easy to judge, but $11 million does not get racked up from shopping sprees alone. As for affording their home of $80,000, it's perfectly possible. That may be their income, but that does not speak to prior investments, including real estate. Flipping properties can be a lucrative way to move up in homeownership.
The reason they paid with cash so the Govt, or BKrupty court couldn't touch or take it. This family needs to go Bravo do all of us a favor who love these shows pull the plug on this NJ housewife. Guess she spent the money from the show on her dog/cat/phony attitude. Harder falling from the top Teresa than the bottom where you belong.
Teresa this you deserve you and your over steroid husband put the rest of us good Italian women to shame. You need to go Bravo needs to get rid of you and your little phony life style. I love the other Housewives programs but you and your family makes Housewives of NJ a joke and I'm glad your going broke you should of had a face job instead of buying furniture for the house. Your makeup is so 80's get over yourself and get off this show do us all a favor-move on get a real job tell your husband he needs to spend more time at home than in the gym, he's gross. I feel sorry for your children what kid of parents are you? Trash
poor poor Teresa.we saw it coming you dumb broad.
Being a single parent not collecting one friggin dime from the govt in any form... This pisses me off the more I think about it! One shopping trip for the girls at $1900 would have paid for health insurance for my son for a whole year.. People are going without.. I guess I could change the channel right...lol
Ok she wants a clean start??? What happens to all the stuff they have been HOARDING???
There was a scene in the first season where it Theresa was furnitureshopping and was at the register. The total came to over $100,000 and Theresa puled out a HUGE wad of cash, started peeling off bills to pay for the furniture. This season she paid in cash over $1,900 for clothes in one trip. Seriosuly, only $79,000 a year? Was able to get a mortgage on a $2million + home? Ys, we all smell something fishy here.
I never understood the title of this program. I AM a REAL Housewife. I and My Husband raise our 4 children. We have NO Nanny(s), No Chef, No Personal Trainer, No Personal Assistants, No Pool Boy, No Gardner and on and on...Maybe had she actually been a TRUE Housewife she would be in touch with reality and know how to budget her family money! She admits to knowing her husbands business was in trouble"due to the economy" I don't believe that's truly why they're in debt. However She should have curbed her spending THEN. Now 3 years later she is crying the blues wanting tax payers to bail them out. For What?? Living beyond her means?? Having another child they couldn't afford?? We Know That $HE $TILL HA$N'T $TOPPED $PENDING! Way to show your children what being responsible means! I Don't feel sorry for them. I think they should take their home(s) sell them and have to pay off ALL the their debts...Time to grow up!