Famecrawler
Teresa Giudice Just Didn’t Want the Creditors to Get the Cash
What’s a bankrupt housewife to do? Apparently they should go out and splurge $60,000 on home furnishings and fabulous fashions. At least that’s what you do if you’re New Jersey Housewife Teresa Giudice and that’s A-okay with her lawyer.
“That was the money she earned as an advance for her book Skinny Italian,” her attorney Jim Kridel tells People magazine. “Since she earned it after the filing, she was absolutely free to spend it.”
She may legally be alright to spend the money as fast as it comes in, but tell that to the line of creditors waiting to get paid from the Giudice family.
“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 adds. “Legally you are entitled to spend money your earn after a bankruptcy.”
’Why don’t you pay your creditors?’ does seem like an appropriate question to ask given her past spending habits. Her justification for the spending spree is that the family needed to re-fill there ultra-plush New Jersey home because their furniture and toys were all going to the bankruptcy auction.
“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.”
What about the $10.98 million that Teresa and Joe owe their creditors? Well those pesky creditors will just have to wait for the bankruptcy auction which has been rescheduled for October 3. Of course, the amount they expect to earn from selling their old stuff is only estimated to be $51,000 which is barely a drop in the bucket of what they owe.
A New Jersey Housewife lesson to be learned…. why bother paying off your old debts when you can buy a load of fabulous new stuff!
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1 Comment
Becky commented on Aug 18 10 at 7:45 amI don’t know how much of that show is for real, but poor Joe is powerless to put his foot down on Teresa’s spending! He’ll make comments about it and apparantly took back the checkbook as per a comment when they were traveling to the baby christening bash, but it didn’t look like the scrimped on that party.
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