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Spendaholic 'Housewife of NJ' owes a big-hair-raising $11M (Bankrupt reality star)
New York Posst ^ | June 5, 2010 | JEANE MacINTOSH

Posted on 06/05/2010 10:29:07 AM PDT by tlb

She has a gaudy new mansion, pricey breast implants and spends thousands of dollars on shopping sprees for her spoiled brats -- but a New Jersey reality star and her goombah hubby are real-life deadbeats who owe $11 million, court records show.

Free-spending "Real Housewives of New Jersey" diva Teresa Giudice and her husband, Joe, make just $79,000 a year and are up to their tanned necks in liens, foreclosures and unpaid bills, according to bankruptcy papers filed in Newark federal court.

The Giudices say they owe creditors $10,853,648.04.

Teresa, known for her lust for designer clothes and expensive bling on the Bravo show, owes nearly $20,000 on credit cards for Bloomingdale's, Nordstrom and Neiman Marcus. In total, the Giudices show $104,000 in debt on at least eight credit cards.

The bank has moved to foreclose on the Giudices' $1.8 million, 10,500-square-foot, eight-bedroom, 5½-bath marble-and-onyx manse in Towaco, NJ, the couple moved into during the first season.

Teresa and Joe defaulted on their $1,280-a-month payment for the family's ubiquitous black Cadillac Escalade. They also didn't have insurance on the massive SUV, according to GMAC.

Teresa -- who this season told Joe to get a vasectomy -- owes $12,000 to a Garden State fertility clinic.

In court papers, Joe, who owns a stucco and stone company, lists his monthly income as $3,250; Teresa pulls down $3,333 a month for her Bravo gig. The couple gets another $10,000 in "monthly assistance from family members."

(Excerpt) Read more at nypost.com ...


TOPICS: Business/Economy; TV/Movies; Weird Stuff
KEYWORDS: bravo; housewives; nj; reality
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I've never actually watched this show but I predict there are also big payments due for spray-on tan and hairspray.

"A stucco and stone company". Is that a euphemism?


1 posted on 06/05/2010 10:29:07 AM PDT by tlb
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To: tlb

$10 million debt on $80k salary isn’t bankruptcy, it’s outright fraud. They deserve jail time for defrauding their creditors.


2 posted on 06/05/2010 10:32:31 AM PDT by MediaMole
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To: tlb

What sort of culture have we become when we glorify and make famous the irresponsibles and the ignorants!


3 posted on 06/05/2010 10:36:07 AM PDT by tflabo (Restore the Republic)
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To: tlb

“shopping spree”? Sounds more to me like a crime spree.


4 posted on 06/05/2010 10:36:14 AM PDT by Mobties (Everything I needed to know about Islam I learned on 9/11)
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To: MediaMole

Noooo, your soo wrong.

They deserve a Govt appointed job... preferably in the Treasury Department, or Fed Reserve, as they have the experience.


5 posted on 06/05/2010 10:36:41 AM PDT by ph12321 (We must, indeed, all hang together, or assuredly we shall all hang separately - Benjamin Franklin)
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To: tlb
"A stucco and stone company". Is that a euphemism?

Or perhaps a front?

6 posted on 06/05/2010 10:37:13 AM PDT by SonOfDarkSkies (Did you plug the hole yet, Daddy?)
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To: tlb

They can move in with the Freegans


7 posted on 06/05/2010 10:37:46 AM PDT by GeronL (Political Correctness Kills)
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To: tflabo

When we allow the entertainment industry to run things. Like how the entire entertainment industry convince all but the Chinese, India, and Russians about the terrors of global warming.


8 posted on 06/05/2010 10:38:04 AM PDT by Niuhuru (The Internet is the digital AIDS; adapting and successfully destroying the MSM host.)
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To: tlb
The couple gets another $10,000 in "monthly assistance from family members."

how long will these suckers continue this practice?

9 posted on 06/05/2010 10:38:17 AM PDT by BookmanTheJanitor
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To: tlb
"A stucco and stone company". Is that a euphemism?

Sounds like a euphemism for the mob.
10 posted on 06/05/2010 10:38:57 AM PDT by Oceander (The Price of Freedom is Eternal Vigilance -- Thos. Jefferson)
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To: tlb

I have never watched the show but two things come to mind:
Wasn’t Tony Soprano in the waste disposal business in Jersey? This guy is in stone and stucco? Do they both hang at the Badda Bing? I mean, how does a couple pulling down less than 100g’s get access to ten million dollars?

The other thought is that these are hard core Democrats. They spend not knowing or caring where the money comes from. It’s just monopoly money.


11 posted on 06/05/2010 10:38:57 AM PDT by IrishCatholic (No local Communist or Socialist Party Chapter? Join the Democrats, it's the same thing!)
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To: tlb

I’m a housewife from New Jersey, and I don’t think we’re even the same species....


12 posted on 06/05/2010 10:40:12 AM PDT by heartwood
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To: IrishCatholic

I’m of the mind of a mafia-associated business as well.


13 posted on 06/05/2010 10:41:07 AM PDT by pepsionice
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To: tlb

Why do people watch this trash?


14 posted on 06/05/2010 10:41:07 AM PDT by dfwgator
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To: tlb
She doesn't look quite right. Have anything to do with LGBT month? Well, Has Obama offered them a slot on the economic recovery team yet? Debt is how you achieve prosperity after all.
15 posted on 06/05/2010 10:41:43 AM PDT by throwback ( The object of opening the mind, as of opening the mouth, is to shut it again on something solid)
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To: MediaMole

They dont deserve jail time. Their creditors were stupid. No one who makes $79K a year should get anywhere near $11 million in credit.


16 posted on 06/05/2010 10:47:56 AM PDT by Astronaut
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To: tlb

Before becoming a housewife, Teresa earned a degree in Fashion Marketing and Management from Berkeley College. She worked in the fashion industry in New York as an associate buyer for Macys before deciding to stay home with her children. She is the owner of TG Fabulicious, an online boutique. Her first book, “Skinny Italian,” a lifestyle title that teaches authentic, healthy Italian cooking with over 60 recipes straight from Salerno, hits stores in May 2010.

From her bio. I’d say there’s a whole lotta funny stuff going on.


17 posted on 06/05/2010 10:48:46 AM PDT by pnut22
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To: tlb

That’s a man, son.

(And I don’t mean the short guy in the suit and tie.)


18 posted on 06/05/2010 10:49:39 AM PDT by savedbygrace (Rev 22:20 He which testifieth these things saith, Surely I come quickly. Amen. Even so, come, Lord)
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To: tlb

“GUILTY”


19 posted on 06/05/2010 10:49:57 AM PDT by Dryman ("FREE THE LONG FORM!")
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To: MediaMole

Even for NJ—making $80/k year (while not a whole lot of $$) yet a couple can live reasonably well if handled wisely.


20 posted on 06/05/2010 10:54:15 AM PDT by tflabo (Restore the Republic)
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