Teresa Giudice, real bad housewife

Teresa Giudice of real Housewives of New Jersey has filed for bankruptcy in a federal court in Newark, New Jersey.

Teresa Giudice’ filing of bankruptcy has revealed the financial conditions of the woman who was seen spending an extravagant life during the reality show. It is reported that Teresa Giudice and her husband Joe were earning just $ 79000 a year but were spending like millionaires.

The bankruptcy documents show that couple is drenched into debt of around $ 11.8 million. Out of this hefty amount $2.6 million are for three mortgages, $ 5.8 million in the investment enterprise by Joe and bills of a fertility center of $ 12000.

Not only has this but Teresa Giudice had to pay over $ 100000 in credit card debt whereas Phone Company is lucky for having only $ 2000 towards the couple.

If you have witnessed Real Housewives of New Jersey you might have seen Teresa Giudice getting breast implants, having expensive clothes for her daughters and the family was also filmed visiting the construction site of a multimillion dollar mansion that has lavish and luxurious accoutrements.

The dire financial situation of Teresa Giudice surfaced last year when one of their homes was foreclosed on and media turned its radar towards the life style of the couple that earned like a working class couple but spent like elite class.

Well, Teresa Giudice you might have come across an old piece of wisdom that goes, Cut your coat according to your cloth’, do you believe in this saying or not?