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Acerone
I hate ants and ugly people.
Member since 3/07 6437 total posts
Name:
Chris
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RHofNJ Teresa and Joe owes $11 Million
Damn....
By JEANE MacINTOSH
Last Updated: 10:08 AM, June 5, 2010
Posted: 3:51 AM, June 5, 2010
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.
* Banks have taken the couple's $279,000 four-bedroom Jersey Shore house. The Giudices had three mortgages on the house and owed $325,000. The couple also handed over a $200,000 home in Lincoln Park, NJ, that had four mortgages -- and an outstanding debt of $600,000.
* Teresa and Joe owed another $1 million for property in Clifton, NJ, that has been given back to lenders.
On the show, Teresa famously dresses her four daughters in designer clothes, and last season dropped $2,000 in 10 minutes of shopping.
Yet, in bankruptcy papers, Teresa and Joe claim to spend just $400 a month on clothes.
On a recent "Real Housewives" episode, Teresa boasted that she dropped "a fortune" on daughter Gia's televised 9th birthday party. The child got an all-terrain vehicle, along with a trip to a spa in a pink stretch limo for her and her friends.
Joe, who "owns several successful businesses throughout New Jersey," according to his wife's Bravo bio, owes more than $5 million, including debts to former partners associated with his Section 8 real-estate deals.
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."
Message edited 6/5/2010 1:39:19 PM.
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Posted 6/5/10 1:37 PM  |
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lbelle821
Arghhhhh
Member since 2/06 5285 total posts
Name:
Lisa
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Re: RHofNJ Teresa and Joe owes $11 Million
wow!
I hope they cover this next season on the show...that would be entertaining.
Maybe she and Danielle have more in common than we thought (living above their means).
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| Posted 6/5/10 1:46 PM |
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Bugaboo
Relax!
Member since 5/05 2133 total posts
Name:
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Re: RHofNJ Teresa and Joe owes $11 Million
I just posted the same thing.
I'm not surprised that they are in so much debt, but $11M is just absurd.
I particularly like the last line in the article, "The couple gets another $10,000 in monthly assistance from family members."
Read between the lines on that one. 
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| Posted 6/5/10 1:51 PM |
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Faithx2
All good things in 2016!!
Member since 8/05 20181 total posts
Name:
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Re: RHofNJ Teresa and Joe owes $11 Million
Posted by Bugaboo
I particularly like the last line in the article, "The couple gets another $10,000 in monthly assistance from family members."
Read between the lines on that one.
Yea really....I'm not surprised by this at all. I think she's hysterical to watch but at some point when is it all too much??
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| Posted 6/5/10 2:49 PM |
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rileysmama
needing a vacation..!
Member since 10/09 2162 total posts
Name:
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Re: RHofNJ Teresa and Joe owes $11 Million
wasn't he also arrested for a DUI?
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| Posted 6/5/10 3:16 PM |
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Acerone
I hate ants and ugly people.
Member since 3/07 6437 total posts
Name:
Chris
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Re: RHofNJ Teresa and Joe owes $11 Million
She better start selling a lot of these...
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| Posted 6/5/10 3:46 PM |
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MrsFlatbread
Skinny jeans are in my future
Member since 6/06 10258 total posts
Name:
Baby Momma
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Re: RHofNJ Teresa and Joe owes $11 Million
interesting that the IRS only shows 79,000 in income annually but they live in a 2 mil dollar house...
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| Posted 6/5/10 3:57 PM |
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beautyq115
New Year!
Member since 5/05 13729 total posts
Name:
Me
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Re: RHofNJ Teresa and Joe owes $11 Million
WOW!
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| Posted 6/5/10 4:57 PM |
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kathleeng
Member since 5/05 3775 total posts
Name:
Kathleen
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Re: RHofNJ Teresa and Joe owes $11 Million
Sorry to say but I don't even feel remotely bad for them.
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| Posted 6/5/10 8:52 PM |
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LINewbie
Tigger the the Rescue!
Member since 8/08 5647 total posts
Name:
LB
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Re: RHofNJ Teresa and Joe owes $11 Million
What bank will let you have that many mortgages?
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| Posted 6/5/10 10:55 PM |
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Phyl
R.I.P. Sweet Mia ♥
Member since 5/06 28918 total posts
Name:
The Mystical Azzhorse! ™
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Re: RHofNJ Teresa and Joe owes $11 Million
Posted by rileysmama
wasn't he also arrested for a DUI?
Yes and Sonia from RWONY was just popped for DUI also.
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| Posted 6/5/10 10:59 PM |
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Phyl
R.I.P. Sweet Mia ♥
Member since 5/06 28918 total posts
Name:
The Mystical Azzhorse! ™
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Re: RHofNJ Teresa and Joe owes $11 Million
I wish I had a "family" that kicked me down a cool 10K a month!  
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| Posted 6/5/10 11:00 PM |
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Acerone
I hate ants and ugly people.
Member since 3/07 6437 total posts
Name:
Chris
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Re: RHofNJ Teresa and Joe owes $11 Million
The RHofNJ reunion show going to be sick 
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| Posted 6/5/10 11:59 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Re: RHofNJ Teresa and Joe owes $11 Million
I wonder how they got all that making 79k a year...
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| Posted 6/5/10 11:59 PM |
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8ternity
<3
Member since 11/08 10586 total posts
Name:
Formally NYPD-Wife
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Re: RHofNJ Teresa and Joe owes $11 Million
Wow! he has to be doing something else on the side.
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| Posted 6/6/10 12:44 AM |
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Karen
Just chillin'!!
Member since 1/06 9690 total posts
Name:
Karen
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Re: RHofNJ Teresa and Joe owes $11 Million
Posted by MrsFlatbread
interesting that the IRS only shows 79,000 in income annually but they live in a 2 mil dollar house...
yep, on top of everything else I am betting they have an IRS audit in their foreseeable future too!!!
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| Posted 6/6/10 8:40 AM |
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conigs25
So in love with this kid!
Member since 5/06 11197 total posts
Name:
Michele
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Re: RHofNJ Teresa and Joe owes $11 Million
Posted by kathleeng
Sorry to say but I don't even feel remotely bad for them.
Neither do I. How in the world could you let material things and your need to have "the best" F up your family and your children's lives? Irresponsible a-holes
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| Posted 6/6/10 8:51 AM |
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beautyq115
New Year!
Member since 5/05 13729 total posts
Name:
Me
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Re: RHofNJ Teresa and Joe owes $11 Million
Posted by conigs25
Posted by kathleeng
Sorry to say but I don't even feel remotely bad for them.
Neither do I. How in the world could you let material things and your need to have "the best" F up your family and your children's lives? Irresponsible a-holes
And now your finances are in the news as well...freaking stupid!
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| Posted 6/6/10 9:10 AM |
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Christine
2nd verse same as the 1st
Member since 5/05 15287 total posts
Name:
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Re: RHofNJ Teresa and Joe owes $11 Million
Posted by MrsFlatbread
interesting that the IRS only shows 79,000 in income annually but they live in a 2 mil dollar house...
I suspect the $79,000 is W-2 income but the majority of their income sources would be reported on 1099s or K-1s.
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| Posted 6/6/10 9:21 AM |
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lvdolphins
My Loves!
Member since 5/05 46292 total posts
Name:
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Re: RHofNJ Teresa and Joe owes $11 Million
Wow! I agree..I do not feel bad for them. I do like her, but, wow, this is a bit much!
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| Posted 6/6/10 9:22 AM |
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Elizabeth
Mom of Three
Member since 9/05 7900 total posts
Name:
"MOMMY!!!"
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Re: RHofNJ Teresa and Joe owes $11 Million
I suppose no one is shocked...with all those wads of cash transactions, of course something is suspect. Additionalyl scary is the idea of all that cash + so much debt. So instead of paying bills, they further fund their phony lifestyle, which we are supposed to envy?
It seems like 95% of the people on these RH shows are smoke and mirror types who are such fakes. Why would anyone want to put themselves on TV and show the world what phonies they are....surely they realize EVERYTHING will come to light, no? Or am I giving them too much credit?
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| Posted 6/6/10 10:45 AM |
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2PreciousBlessings
The Perfect Pair
Member since 5/06 19861 total posts
Name:
Best Wife & Mommy
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Re: RHofNJ Teresa and Joe owes $11 Million
Also, Teresa said that Danielle should get a job I hope she heed her own advice to Danielle...ugh! I cannot stand not one of the Jersey Housewives. Pathetic!
She looks so harsh and look like a total drag queen....ugh! I don't see why people make this huge deal over her.
Message edited 6/7/2010 6:09:41 AM.
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| Posted 6/6/10 11:40 AM |
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Jackie24
~We Did it~
Member since 7/06 6718 total posts
Name:
Jackie
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Re: RHofNJ Teresa and Joe owes $11 Million
Shocker!!!!!! 79k a year on a 2 million dollar mortgage? No wonder we are in a credit crisis.
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| Posted 6/6/10 5:55 PM |
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SpiceGirl
Dream big
Member since 1/06 2486 total posts
Name:
j
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Re: RHofNJ Teresa and Joe owes $11 Million
The really sick part is that they'll just file for bankruptcy and have all their debt wiped away. I'm sure they will NEVER alter their lifestyle, because if they lived 'within their means', they'd be living next door to me and not in their marble palace.
Are any of these Housewives REALLY rich? Or is it all just smoke and mirrors??????
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| Posted 6/6/10 11:04 PM |
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mrsej
The cutest!
Member since 1/07 2495 total posts
Name:
Mommy
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Re: RHofNJ Teresa and Joe owes $11 Million
Not surprising - i dislike her the most. I find her the most repulsive out of all the housewives - i like Danielle more than I like her!!! Absolute trash...
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| Posted 6/7/10 12:18 AM |
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