'Real Housewives of NJ' Star To Hold Bankruptcy Auction
Teresa and Joe Giudice
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TOWACO, N.J. (WPIX) - Fans know her as one to throw conniptions and an occasional table, but now "Real Housewives of New Jersey" star Teresa Giudice is throwing the biggest freakin' auction the Garden State has ever seen in an attempt to get out of bankruptcy.
The reality star, along with husband Joe Guidice, will put their most prized possessions on the auction block next month, beginning a long climb out of their self-made financial ruin.
The couple, who collectively gross $79,000 annually, owe creditors $10,853,648.04, according to court records. Delusions of wealth apparently brought the couple to live so far outside of their means that they even had a $1.8 million mansion built for them because Teresa reportedly didn't want to live in a home that other people had already lived in.
The August 22 auction will be held by A.J. Willner Auctions, and some of the items up for sale include a Schaefer & Sons Grand Piano, a snow plow, several ornate chandeliers and two flat screen televisions.
Giudice calls the bankruptcy proceedings a new beginning for the couple, whose reckless spending has buried them in debt.
According to Teresa's bio on the Bravo show's website, the couple runs "multiple successful businesses," however court papers put Joe Guidice's monthly income at $3,250 from his stucco and stone company. Meanwhile Teresa reportedly makes just $3,333 a month for her role on "Real Housewives." In addition, the couple receives another $10,000 in "monthly assistance from family members," court papers said.
Giudice loves to flaunt her spending on the show, recently boasting about spending a fortune on her daughter's 9th birthday party, buying her an all-terrain vehicle and renting a pink stretch limo to transport the children to a spa. On another episode, Giudice dropped over $2,200 during a shopping trip to buy clothes for her four daughters.
Bankruptcy papers seem to tell a different story, stating that the couple claims to only spend $400 a month.
Teresa owes $20,000 on Bloomingdale's, Nordstrom and Neiman Marcus credit cards alone, court papers revealed.
The couple also defaulted on payments for their flashy black Cadillac Escalade, listed at $1,280 per month.
Creditors and the bank finally brought the wild spending spree to an end, foreclosing their 8-bedroom mansion in Towaco, NJ, and seizing their two other homes on the Jersey Shore and in Lincoln Park, New Jersey last month. The couple had already taken out three mortgages on the Jersey Shore house, and another four on the Lincoln Park house.
The reality star, along with husband Joe Guidice, will put their most prized possessions on the auction block next month, beginning a long climb out of their self-made financial ruin.
The couple, who collectively gross $79,000 annually, owe creditors $10,853,648.04, according to court records. Delusions of wealth apparently brought the couple to live so far outside of their means that they even had a $1.8 million mansion built for them because Teresa reportedly didn't want to live in a home that other people had already lived in.
The August 22 auction will be held by A.J. Willner Auctions, and some of the items up for sale include a Schaefer & Sons Grand Piano, a snow plow, several ornate chandeliers and two flat screen televisions.
Giudice calls the bankruptcy proceedings a new beginning for the couple, whose reckless spending has buried them in debt.
According to Teresa's bio on the Bravo show's website, the couple runs "multiple successful businesses," however court papers put Joe Guidice's monthly income at $3,250 from his stucco and stone company. Meanwhile Teresa reportedly makes just $3,333 a month for her role on "Real Housewives." In addition, the couple receives another $10,000 in "monthly assistance from family members," court papers said.
Giudice loves to flaunt her spending on the show, recently boasting about spending a fortune on her daughter's 9th birthday party, buying her an all-terrain vehicle and renting a pink stretch limo to transport the children to a spa. On another episode, Giudice dropped over $2,200 during a shopping trip to buy clothes for her four daughters.
Bankruptcy papers seem to tell a different story, stating that the couple claims to only spend $400 a month.
Teresa owes $20,000 on Bloomingdale's, Nordstrom and Neiman Marcus credit cards alone, court papers revealed.
The couple also defaulted on payments for their flashy black Cadillac Escalade, listed at $1,280 per month.
Creditors and the bank finally brought the wild spending spree to an end, foreclosing their 8-bedroom mansion in Towaco, NJ, and seizing their two other homes on the Jersey Shore and in Lincoln Park, New Jersey last month. The couple had already taken out three mortgages on the Jersey Shore house, and another four on the Lincoln Park house.
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