NJ 'Housewife' Teresa Giudice Files for Bankruptcy
By Molly McGonigle
Known for getting her lavish spending (dropping $2000 in a single store!), dream house reminiscent of an Italian mansion, and that big ol' black Escalade, Teresa from the "Real Housewives of New Jersey" has reached her spending limit.
According to the NYPost, Teresa and Joe Giudice owe an outstanding $11 million and have filed for Chapter 7 bankruptcy. The couple claim to make $79,000 a year, with an additional $120,000 deemed "assistance from family members."
RELATED: Teresa gets her "Bubbies" done
What do they owe $10,853,648.04 for? Some of the things on the list include: Mortgages on their three homes; credit card debts of over $20,000 to Bloomingdales, Neiman Marcus, and Nordstroms; $12,000 in fertility treatments; and $85,000 in home repairs.
Plus, Joe owes $5.8 million in business ventures gone awry. Ouch!
RELATED VIDEO: Check out footage of the Jersey "Housewives"
Teresa released a statement to People.com about her money mess. "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,'" she said.
While the details around the Giudices' spending and income remains fishy, one thing remains certain: Skinny Italian better remain a NYTimes Bestseller or this family could be relying on their 9 year old model-daughter Gia to bail them out of financial ruin.
RELATED: Teresa's husband Joe gets a DUI
Fall's Best Looks
New fashion trends are here! Take a look at celebrities rocking fall's best looks so far.Watch Video »
Real 'RHOC' Dish
"Real Housewives of OC" star Shannon Beador dishes about her family, her relationship with Vicki Gunvalson and what to expect from the reunion!Watch Video »
Tats for Love
From Heidi Klum and Seal to Ryan Sweeting and Kaley Cuoco, see which stars got tattoos for love.Watch Video »
Miranda Lambert meets Honey Boo Boo and takes to social media to share photos of their encounter on today's Celebs Gone Social.Watch Video »
Royal Beach Bods
Check out the hottest royals enjoying their beach vacations.Watch Video »
Shailene Woodley and the stars of "Divergent" chat phobias and on-set injuries at the film's world premiere.Watch Video »