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Bankrupt 'Housewife' Teresa Giudice's $60K spending spree

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  • Bankrupt 'Housewife' Teresa Giudice's $60K spending spree

    August 17, 2010

    Spendaholic "Real Housewives of New Jersey" star Teresa Giudice celebrated her bankruptcy in style -- with a $60,000 shopping spree, astonishing court testimony revealed yesterday.

    The buying bender came to light as the Bravo star and her husband, Joe, who owe creditors $11 million, tried to convince a Newark federal bankruptcy judge to stop the planned Aug. 22 auction of the contents of their Towaco McMansion.

    In court, even the Giudices' own lawyer, James Kridel -- who had filed a court document with receipts that detailed the spree -- seemed at a loss to explain the profligate spending to Judge Morris Stern. Kridel said he knew the documents presented "a dilemma" and that Stern might view it as "conspicuous consumption."

    The receipts show that within days of filing to wipe out their multimillion-dollar debt, the Giudices blew $8,800 for curtains and nearly $45,000 on wall hangings, mirrors, frames, tables, urns and chairs, The Post's Jeane MacIntosh reports.

    "These were not Ikea-purchased furniture items," Stern said. "These were from high-end design stores."

    The judge refused to stop the auction, but postponed it until Oct. 3. Stern called the Giudices' high-spending ways "a lifestyle choice" but noted that "it's not for this court to tell people how to spend their money."

    During the hearing, bankruptcy trustee John Sywilok noted that right before their bankruptcy filing, the Giudices racked up an earlier $21,000 worth of furniture buys -- and paid off a total of $11,000 of that just two days before declaring they were broke.

    After court, Teresa declined to comment on her shopping spree.
    Hubby Joe -- sweating profusely and barely able to contain his temper with media after the hearing -- snapped, "None of your business! Back off before I get pissed!"

    http://www.nypost.com/p/pagesix/tere...XrucWoPVjaD0nM
    Filed Chapter 7 July 2010
    Attended 341 September 2010
    Discharged November 2010 Closed November 2010

  • #2
    It is people like this that give bankruptcy a bad name. The majority of people think only deadbeats file for bk, this is so not true, the majority of people who file are people who try for years and years to get out of debt and only file as a last resort. People like these knuckleheads who lust for their 15 minutes of fame (dubious fame at that) reinforce the idea that people just run up a lot of debt and just file for bk. Not true!

    Comment


    • #3
      On the opposite side of the spectrum, the wife in the bankruptcy case going to 2004 exam in another post is on suicide watch. Nearing 70 and drawing social security, having been stripped of everything they worked for for nearly 50 years by a corrupt bank and legal system intent on stealing a property they owned on behalf of an associate of the bank's lawyer. Her husband and son have been falsely accused of embezzlement through the rumor mill by the bank's lawyer, though the charge has been refuted by the bank's own hired auditor. The family's straight-laced reputation for honesty and integrity, for doing the right thing, and for compassion and charity toward others, was destroyed in an instant by a conspiracy of lawyers to steal their property. Their inability to defend themselves because the banks seized their business, their farm and their equipment and foreclosed without due process on the basis of the bank lawyer's false but very public accusations and influence in the civil court, a court where she practices on a daily basis that handles such foreclosures. Even the receiver appointed by the court to preserve the property admits that there was no reason for the foreclosure other than to screw them over and steal the property for another firm, but they have no resources left to hire lawyers to defend them, so summary judgments against them are cleaning up the spoils. The wife has figured that her net social security check of $848, when her fixed expenses are subtracted, adds almost nothing to her husband's income, so that he will not have less when she is gone. How many suicides does bankruptcy cause every year? The case in the post above is not typical of bankruptcy filers.

      Comment


      • #4
        Originally posted by keepinitreal View Post
        August 17, 2010

        Spendaholic "Real Housewives of New Jersey" star Teresa Giudice celebrated her bankruptcy in style -- with a $60,000 shopping spree, astonishing court testimony revealed yesterday.

        The buying bender came to light as the Bravo star and her husband, Joe, who owe creditors $11 million, tried to convince a Newark federal bankruptcy judge to stop the planned Aug. 22 auction of the contents of their Towaco McMansion.

        In court, even the Giudices' own lawyer, James Kridel -- who had filed a court document with receipts that detailed the spree -- seemed at a loss to explain the profligate spending to Judge Morris Stern. Kridel said he knew the documents presented "a dilemma" and that Stern might view it as "conspicuous consumption."

        The receipts show that within days of filing to wipe out their multimillion-dollar debt, the Giudices blew $8,800 for curtains and nearly $45,000 on wall hangings, mirrors, frames, tables, urns and chairs, The Post's Jeane MacIntosh reports.

        "These were not Ikea-purchased furniture items," Stern said. "These were from high-end design stores."

        The judge refused to stop the auction, but postponed it until Oct. 3. Stern called the Giudices' high-spending ways "a lifestyle choice" but noted that "it's not for this court to tell people how to spend their money."

        During the hearing, bankruptcy trustee John Sywilok noted that right before their bankruptcy filing, the Giudices racked up an earlier $21,000 worth of furniture buys -- and paid off a total of $11,000 of that just two days before declaring they were broke.

        After court, Teresa declined to comment on her shopping spree.
        Hubby Joe -- sweating profusely and barely able to contain his temper with media after the hearing -- snapped, "None of your business! Back off before I get pissed!"

        http://www.nypost.com/p/pagesix/tere...XrucWoPVjaD0nM


        These people are a disgrace. I'm sure she will turn around and write a book or something about the "difficulties" they have experienced.

        The already have several AP's in their case, I wonder how in the world someone can be so downright ignorant.

        Comment


        • #5
          Originally posted by AbbeyA View Post
          The already have several AP's in their case, I wonder how in the world someone can be so downright ignorant.
          It's not ignorance. It's the sense of entitlement. (Just like Hollywood stars, until recently, always got "special" treatment when they did wrong.)
          Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
          Status: (Auto) Discharged and Closed! 5/10
          Visit My BKForum Blog: justbroke's Blog


          I am not an attorney. Any advice provided is not legal advice.

          Comment


          • #6
            Originally posted by justbroke View Post
            It's not ignorance. It's the sense of entitlement. (Just like Hollywood stars, until recently, always got "special" treatment when they did wrong.)
            I have to agree with justbroke that this couple knew exactly what they were doing and probably have sold the tv rights to the auction.
            You can't take a picture of this. It's already gone. ~~Nate, Six Feet Under

            Comment


            • #7
              When I watched the show, in the past, I was curious where they got all the money to live in such an extravagant, yet monstrously ugly house...and buy the kids such expensive junk and drive European luxury cars....all while her hubby, Joe, ran a tiny storefront tile shop???...couldn't help but feel they were 'connected' if you know what I mean...PLUS its New Jersey, for God's sake. I wonder if they shopped at Satriale's Pork Store, lol

              Comment

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