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
Fergie, Sarah Jessica Parker, and Heidi Klum all get an F on this week's Fashion Offenders.Watch Video »
Diva Double Date
Beyonce and Alicia Keys double date with their famous hubbies on today's Celebs Gone Social.Watch Video »
Where Are They?
See what the cast of "American Beauty" is up to today.Watch Video »
J.Lo's Mini Me
Jennifer Lopez shares an adorable photo of her look-alike daughter, plus more celebritots on social media on today's Celebs Gone Social.Watch Video »
Prince Harry, Jessica Alba and more stars who threw out the first pitch at baseball games.Watch Video »
Sofia Vergara poses in a revealing neon bikini while her "Modern Family" castmates hit the beach in Australia on Celebs Gone Social.Watch Video »