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Posted Wed, July 28, 2010 2:24pm EDT

No Wonder Teresa Giudice Is Broke! She Spent All Her Money On Chessboards & A Suit Of Armor! See Photos Of All Her Wacky Possessions!

Not only did Teresa’s family file for bankruptcy, but now all their belongings are being auctioned off! look at all the items & now we know why the Giudice family is in the red!

Why does Teresa Giudice need oversized candlesticks and a suit of armor? The star of The Real Housewives of New Jersey filed for bankruptcy in Oct. 2009 because she and her husband Joe were $11 million in debt! Now that Teresa and her husband are unable to pay their debts, John Sywilok, the trustee responsible for distributing the Giudice’s assests to creditors, will hold a public auction at the family’s over-the-top $1.8 million Towaco, N.J., mansion Aug. 22. Even though the Giudices’ claim they make a combined salary of $79,000 a year, it seems the family managed to spend quite a bit more than that on ridiculous and unnecessary items! Click here to see what you can buy and what the Giudices can no longer afford!

— Chloe Melas