Wednesday, August 18, 2010

NJ Housewife Defends Post Bankruptcy Spending Spree

Teresa Giudice filed for bankruptcy then spent $60 grand on new furniture.
Real Housewives of New Jersey" star Teresa Giudice is bankrupt, but that doesn't mean she's going to stop shopping.

According to court documents obtained by E Online, Giudice was caught dropping $60,000 on furniture and luxury goods just days after declaring bankruptcy last fall.

But her lawyer says the shopaholic didn't do anything wrong.

"That was the money she earned as an advance for her book Skinny Italian," Giudice's attorney Jim Kridel told People magazine, defending the Housewife's spending habit.

"Legally you are entitled to spend money you earn after a bankruptcy," he said. "Since she earned it after the filing, she was absolutely free to spend it."

According to Giudice, the spending spree was not an extravagance but a necessity.
"She needed to re-buy furniture because she didn’t have any furniture in the house," Kridel told People. "It’s a big house and she wanted furniture consistent with her style on the show. There is nothing wrong with doing that, except that it doesn’t look good for her to be doing it."

The leopard-print loving reality star and her husband Joe, who are regularly seen laying out huge sums of cash on their Bravo show, listed $10.98 million in debt when they filed for bankruptcy in October.

Their belongings were set to be auctioned off on Aug. 22, but a Newark, N.J. court has postponed the auction until Oct. 3 to re-assess the value of the items, E reports.
Unfortunately for the Giudices, the auction is unlikely to solve their financial woes.
Kridel says the items on the auction block - which include a suit of armor and the couple's wedding rings - are only expected to go for $51,000.

And away from the items up for auction, Kridel notes, "They have no assets."
While he admits Teresa's mall madness may "draw scrutiny" in the wake of their money trouble, Kridel says her spending spree was smart.

"If she put it in the bank, they’d say, 'Why don’t you pay your creditors,' and the trustee might freeze the assets while he investigates whether she can spend it or not," Kridel said.

Meanwhile, the Jersey girl has been trying to bring in some money of her own. She recently debuted as the face of local tanning salon chain Sizzle Tans.

And, she says, she is being more careful with her cash.

"I watch my money," she said this month on The View. "I always live within my means. Always."

Jacked from NY Daily News


Anonymous said...


Anonymous said...

$60,000 for furniture? sure!

Anonymous said...

Whatever she has or doesn't have...all I know is she needs to use some of her money to fix her hairline...where's her forehead?

Anonymous said...

if she lives within her means, why was she 10.8 million in debt?

Anonymous said...

Dumbass bitch

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