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ANewDayHasCome
Love multiplies, not divides
Member since 11/12 14481 total posts
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Me
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T and J Giudice
Wow, $7,500 to erase $13mill! 
It looks like Teresa and Joe Giudice have found their way out of bankruptcy.
The stars of “The Real Housewives of New Jersey” will erase more than $13 million in debt by ponying up a mere $7,500 to creditors, reports TMZ.
Documents obtained by the gossip site also show the couple’s lavish lifestyle was little more than a façade, with the Giudices having had next to no equity in their collection of posh homes, vehicles and toys.
But while the reality stars’ financial troubles may be nearing an end, their legal ones aren’t. Both Teresa, 41, and Joe still face serious prison time for bank fraud.
Last month, TMZ reported that Teresa was expected to get 21 to 27 months in prison while her husband was looking at approximately 46 months. Joe, who was born in Italy, faces deportation.
The couple was initially indicted on 41 counts related to making false statements on loan and bankruptcy documents. Early last month, Teresa pleaded guilty to four counts while Joe pleaded guilty to five.
The Giudices were married in 2001. They have four daughters together, Gia, Gabriella, Milania and Audriana.
Back in August, sources close to Teresa said she didn’t want her children to be raised by her brother while she was in jail.
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Posted 4/9/14 2:31 PM  |
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MrsM0829
... With a cherry on top!!!
Member since 11/09 1332 total posts
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T and J Giudice
That's insane!
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| Posted 4/9/14 2:38 PM |
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MsSissy
xoxoxo
Member since 3/07 39159 total posts
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Re: T and J Giudice
Disgusting!
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| Posted 4/9/14 2:54 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
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T and J Giudice
That's the beauty of bankruptcy 
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| Posted 4/9/14 3:53 PM |
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ANewDayHasCome
Love multiplies, not divides
Member since 11/12 14481 total posts
Name:
Me
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Re: T and J Giudice
Posted by Mrs213
That's the beauty of bankruptcy
True, but that's crazy extreme. I mean, they have a million dollar house, nice cars, Jewelry....all worth well over $8,000. All the stuff should have been taken.
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| Posted 4/9/14 4:02 PM |
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Ayne11
Yep
Member since 1/09 18021 total posts
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Re: T and J Giudice
If she was never on RHONJ, they would not get away with such a small amount to pay.
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| Posted 4/9/14 4:13 PM |
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babyfever24
LIF Adult
Member since 1/11 3340 total posts
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Re: T and J Giudice
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| Posted 4/9/14 6:51 PM |
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ANewDayHasCome
Love multiplies, not divides
Member since 11/12 14481 total posts
Name:
Me
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Re: T and J Giudice
For despite the mansion, Maserati, Sea-Doo boat, Escalade and two other properties, the couple have almost no equity - instead using bank loans to finance all aspects of their lives.
Bankruptcy documents seen by TMZ reveal the true illusion of the Giudice's lifestyle.
The opulent mansion which the couple and their four daughters called home holds just $140,000 of equity, with the remaining $1.56m financed by mortgages.
Another two homes are both fully mortgaged and hold no equity.
There is no equity at all in the financed vehicles they own - including a Maserati, an Escalade, a Ford 350, a Sea-Doo boat, a Kawasaki quad bike, and two Go-carts.
And, TMZ reports, the couple's estimate that their pet dogs were worth $600 was downgraded by the assessors, who ruled that the dogs were worth nothing.
Teresa, 41, and Joe's creditors include five banks, all of which are owed more than a million dollars. The Wachovia Bank alone is owed $5.3million by the reality stars.
Their bank debt also included more than $1million to Dime Savings Bank of Williamsburgh and almost $2 million to the Community Bank of Bergen County.
One of their creditors included the North Hudson IVF fertility clinic with the Guidices owing them $117,765.59 for their services, according to a report on Wednesday by RadarOnline.com.
'We just want the money she owes us,' an employee of clinic said. The employee said the couple's refusal to pay was unfair. 'We're just a company that helps people,' the staffer said.
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| Posted 4/10/14 7:11 AM |
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Eunyboo
<3
Member since 7/12 4376 total posts
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E
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Re: T and J Giudice
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| Posted 4/10/14 8:34 AM |
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Hofstra26
Love to Bake!
Member since 7/06 27915 total posts
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Re: T and J Giudice
That's just disgusting.
Yet another example of how doing the WRONG thing pays off.
Some days I want to be the person who shirks all responsibility lies, cheats, and does whatever I selfishly want because it seems those types of people make out waaaaay better than the rest of us who are honest, hardworking, and do the right thing.
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| Posted 4/10/14 8:35 AM |
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BriBri2u
L'amore vince sempre
Member since 5/05 9320 total posts
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Mrs. B
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Re: T and J Giudice
Posted by Hofstra26
That's just disgusting.
Yet another example of how doing the WRONG thing pays off.
Some days I want to be the person who shirks all responsibility lies, cheats, and does whatever I selfishly want because it seems those types of people make out waaaaay better than the rest of us who are honest, hardworking, and do the right thing.
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| Posted 4/10/14 8:57 AM |
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alli3131
Peanut is here!!!!!!
Member since 5/09 18388 total posts
Name:
Allison
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Re: T and J Giudice
Posted by ANewDayHasCome
Posted by Mrs213
That's the beauty of bankruptcy
True, but that's crazy extreme. I mean, they have a million dollar house, nice cars, Jewelry....all worth well over $8,000. All the stuff should have been taken.
The creditors have to take the house etc. Because it would then leave 4 kids (or however many they have) homeless most won't do it or leave them with property they would then have to sell and probably not get that much for it....not worth it. Easier to settle for pennies on the dollar.
This is normal in bankruptcy....and not just because they are famous.
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| Posted 4/10/14 9:19 AM |
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Ayne11
Yep
Member since 1/09 18021 total posts
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Re: T and J Giudice
I'm shocked they owe over $100K to an iVf clinic. I thought she was fertile myrtle...
Message edited 4/10/2014 9:28:15 AM.
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| Posted 4/10/14 9:27 AM |
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ANewDayHasCome
Love multiplies, not divides
Member since 11/12 14481 total posts
Name:
Me
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Re: T and J Giudice
Posted by alli3131
Posted by ANewDayHasCome
Posted by Mrs213
That's the beauty of bankruptcy
True, but that's crazy extreme. I mean, they have a million dollar house, nice cars, Jewelry....all worth well over $8,000. All the stuff should have been taken.
The creditors have to take the house etc. Because it would then leave 4 kids (or however many they have) homeless most won't do it or leave them with property they would then have to sell and probably not get that much for it....not worth it. Easier to settle for pennies on the dollar.
This is normal in bankruptcy....and not just because they are famous.
Nothing to do with famous or not. People's homes get foreclosed on all the time regardless if they have children. I posted something else above about it. Truth is that they only have $140k in equity on the house. About $1.5 million is in mortgages. The bank owns their house as it is.
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| Posted 4/10/14 10:05 AM |
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ANewDayHasCome
Love multiplies, not divides
Member since 11/12 14481 total posts
Name:
Me
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Re: T and J Giudice
Posted by Ayne11
I'm shocked they owe over $100K to an iVf clinic. I thought she was fertile myrtle...
Yeah. That came out awhile ago. I'm curious about that too but supposedly their last was the product of an re.
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| Posted 4/10/14 10:09 AM |
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DiamondGirl
You are my I love you
Member since 7/09 18802 total posts
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DiamondMama
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Re: T and J Giudice
Posted by ANewDayHasCome
Posted by Ayne11
I'm shocked they owe over $100K to an iVf clinic. I thought she was fertile myrtle...
Yeah. That came out awhile ago. I'm curious about that too but supposedly their last was the product of an re.
shocked they wouldnt secure a boy this way (i think this is possible...)
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| Posted 4/10/14 10:21 AM |
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