Bankrupt New Jersey Housewife Teresa Giudice, hair of the dog spendathon
By April MacIntyre Aug 17, 2010, 18:56 GMT
Bills schmills... - Teresa Giudice - "The Real Housewives of New Jersey" Season Two Premiere Party - Arrivals - The Brownstone, 351 W. Broadway - Paterson, NJ, USA © Sylvain Gaboury / PR Photos
Indicative of many undisciplined debtors and spendaholics, TV reality housewife Teresa Guidice seems to have no issues spending a $60,000 windfall from a book advance right after she tossed all her debts under the Bankruptcy bus.
"The Real Housewives of New Jersey" takes the Bravo network cake for the most scandalous behavior of the entire franchise thus far.
Giudice allegedly spending $60,000 on home furnishings and luxury items immediately after filing for bankruptcy last October, but her attorney defends her, saying she could do as she pleases.
“That was the money she earned as an advance for her book Skinny Italian,” her attorney Jim Kridel tells PEOPLE. “Since she earned it after the filing, she was absolutely free to spend it.”
Goodness knows, paying people back for the money you owe them is such a chump move these bailout days. “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 says.
Guidice's attorney adds, “Legally you are entitled to spend money you earn after a bankruptcy,” he explains. “She needed to re-buy furniture because she didn’t have any furniture in the house,” says Kridel. “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.”
There will be a Aug. 22 auction of personal items belonging to Teresa, 38, and husband Joe, 40, if you are remotely curious.
Kridel says the items for sale are expected to take in around $51,000 at auction.
The two listed $10.98 million in debt when they filed for bankruptcy last year. Kridel adds that other than the $51,000 in property, “they have no assets.”
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