Bankrupt NJ Housewife Teresa Giudice Explains How She Blew $11 Million & Insists Her Home Isn't In Foreclosure!

Wed, September 1, 2010 9:25am EST by 19 Comments
teresa giudice, bankrupt, foreclosure, real housewives of new jersey

Getty Images

Teresa finally opens up on her lavish spending, including her $10,000 shopping sprees and over the top wedding! Luckily, she just asked Bravo for a 200% raise to hopefully keep her and her daughters in heels!

Teresa Giudice is finally breaking her silence about how she and husband Joe managed to find themselves $11 million in debt — and of course taking none of the blame! Teresa told In Touch that her bankruptcy is the result of tenants not paying rent on her husband’s investment properties, before she goes on to say about her wedding, “my flowers cost $10,000, which was a lot of money 10 years ago.” Hmmm.

Teresa’s wedding dress was also $10,000, as was her wedding photographer. How does one even go about finding a $10,000 wedding photographer in the state of New Jersey?!

Teresa was not the only clothes horse in the family either, with Joe himself being an admitted shoe fetishist. “I had all these $150 pairs, and I never wore half of them,” said the gentleman famous for doing shots at friends houses after getting into car accidents in the early morning hours.

The Giudices have a plan however — they are making their daughters wear hand-me-downs! No word if Teresa herself would be curbing her clothing budget.

Teresa also continues to say it is her husband’s investment properties and not their home or shore house that is in foreclosure. “We haven’t lost anything yet,” she proudly proclaims.

She is also attempting to supplement the family income by asking Bravo for a 200% raise as well a percentage of DVD sales according to TMZ. Guess those Skinny Italian sales aren’t what she had hoped.

Teresa also has an amazing new plan that should definitely be the answer to all the family problems, “I want to save more.”

-Chris Spargo

  1. Dina Manzo Tells Us She’s Been Happier Then Ever Since Quitting ‘New Jersey Housewives’!
  1. EXCLUSIVE! See How Andy Cohen Had to Hold Teresa Giudice Back During The ‘Real Housewives of New Jersey’ Reunion!
  2. OMG! Bethenny Frankel Quit ‘The Real Housewives of New York City’!