No money? No problem.
Real Housewives of New Jersey star Teresa Giudice and her husband Joe filed for bankruptcy in October 2009 with almost $11 million in debt, and are being forced to auction off the contents of their home.
However, after a Newark Judge agreed to postpone the auction from August 22 to October 3, the Giudice’s decided to go on a massive spending spree.
Court documents filed by the Giudices’ lawyer Jim Kridel revealed that immediately after applying for bankruptcy the pair spent $8,800 on curtains and nearly $45,000 on wall hangings, mirrors, frames, tables, urns and chairs, according to the New York Post.
The Post also reports trustee John Sywilok stated that right before their bankruptcy filing, Teresa, 38 and Joe, 40, went on another buying binge, purchasing $21,000 worth of furniture and only paying off $11,000 of that money before declaring they were broke.
However, Kridel has come to the couple’s defence, saying the Giudice’s are free to spend their money however they want.
‘That was the money [Teresa] earned as an advance for her book Skinny Italian,’ Kridel told People magazine. ‘Since she earned it after the filing, she was absolutely free to spend it.’
He also stated that if she were to put the money in the bank rather than spend it then the trustee might freeze her assets or tell her to use it to pay her creditors.
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‘Legally you are entitled to spend money you earn after a bankruptcy,’ he said, adding that Giudice ‘needed to re-buy furniture because she didn’t have any furniture in the house.’
Teresa, whose catch phrase on the show is ‘fabulous’ and who is known for living large and spending lavishly, is now being forced to auction off some of her most prized possessions.
They include a jet boat, a snow plough, a grand piano, two flat-screen TVs, decorative fireplace accessories, a faux marble chess set, a suit of armour and several chandeliers.
Along with the money she’s made from her cook book Skinny Italian, she also earned some extra funds from shooting a commercial for a chain of local New Jersey tanning salons called Sizzle Tans.