BREAKING NEWS

Joe & Teresa Giudice New Documents Reveal Lavish Deadbeat Lifestyle

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via TMZ:
Joe and Teresa Giudice will get a clean slate from the bankruptcy judge they paid $7,500 to creditors and in the process they’ll erase more than $13 MILLION in debts!!!

The docs obtained by TMZ are shocking. Joe and Teresa lived their lives through smoke and mirrors, having almost no equity in any of their lavish trappings of wealth.

They have a $1.7 million house with only $140K in equity. There are 2 other properties where they have NO equity.

They have a Maserati, an Escalade, a Ford 350 and have NO equity in them. They also have toys a Sea-Doo boat, a Kawasaki quad, 2 go carts and other stuff no equity.

As for their creditors who will walk away with nothing they include 5 banks, all of which loaned the couple more than a million bucks. Wachovia Bank got shafted to the tune of $5.3 MIL.

As we previously reported the Giudices are about to get prison time for bank fraud.

BTW one really weird thing. The Giudices valued their dogs at $600. The bankruptcy trustee begged to differ, saying the dogs were worthless.

What are your thoughts? Post your comments below.

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