Saturday, July 24, 2010

Teresa Guidice To Have Bankrupcy Garage Sale

As if being $11 million in debt isn't bad enough, the "The Real Housewives of New Jersey" embattled star Teresa Giudice is now in an even deeper financial hole.

And most embarrassing, there's going to be a public auction of her personal stuff -- furniture, a boat, that pool table, etc., etc. -- held at her house next month, which should lead to must-see TV for "Real Housewives" fans.

The trustee on her bankruptcy case claims she and her husband Joe have (shock) hidden personal assets. John Sywilok, whose job is to assess the Giudices' assets and distribute the proceeds to creditors, first claimed the couple didn't list profits from several businesses, including a laundromat, her Fabulicious clothing and accessory company, a pizza parlor and her cookbook, "Skinny Italian."

According to The Wall Street Journal, the Giudices are also accused of undervaluing personal  items such as a pool table ($1,000), wedding bands ($400) and living room furniture ($2,000).

But according to People, the Giudice's attrorney, Jim Kridel, says the couple did not hide sources of income. "The contract for Teresa's book was signed after the bankruptcy petition was filed, and all money was received post petition," he says.
It's come to this.