The Real Housewives of New Jersey is a popular “reality” TV show that follows the fabulous lives of five fabulously wealthy New Jersey Housewives. But for at least one of the stars of the show, her luxurious lifestyle wasn’t all it seemed.
After being featured on the show building and furnishing a brand new multi-million dollar mansion and treating herself and her kids to thousands of dollars in vacations, diamonds, and designer outfits, Teresa Giudice and her husband Joe have filed for chapter 7 bankruptcy.
According to public documents, the couple owes almost $11 million against an annual household income of only $79,000. The debt is attributed to missed mortgage payments, high credit card bills, and construction obligations on their $2 million home.
Mrs. Giudice told reporters that the chapter 7 bankruptcy became necessary when the tumbling economy caused her husband’s multiple real estate investments to fail. She said the couple is pursuing bankruptcy to give themselves a “fresh start.”
Even wealthy people with seemingly lavish lifestyles can be caught off guard by a poor economy or unexpected health problem, job loss or other personal catastrophe. The bankruptcy system was put in place to offer protection to people when life doesn’t work out the way they expected.
At The Zolman Law, we believe that your life shouldn’t be defined by debt. We have helped hundreds of people just like Teresa Giudice find the relief they deserve from harassing bill collectors, paycheck garnishment, foreclosures proceedings, and – most importantly – the constant worry about money and what to do about your debts.
We are a dedicated debt relief law firm. We help people file for bankruptcy or work through tough tax problems every day. We can help stop the debt cycle and give you relief from your overwhelming, burdensome, and crushing debt. Please don’t wait another moment. Call us right away– our attorneys will help get you the fresh start you deserve.