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New Jersey Housewife Admits She's A Broke Ass!

| Filed under: Reality TV

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The Real Housewives of New Jersey star Teresa Giudice is admitting that she and her husband Joe filed for bankruptcy.

The prostitution whore says:

“While this is a personal matter, I realize that certain aspects of my private life will always be subject to scrutiny and distortion. What is true is that due to the economy, most of my husband’s real estate ventures failed despite his hard work and effort. As a result, we looked to the Bankruptcy Court for a ‘fresh start.’”

Guidice filed for Chapter 7 bankruptcy in October of last year. The couple had to undergo credit counseling and liquidate their assets to pay creditors. They were awarded a temporary stay on payments for their Cadillac Escalade and mortgages.

Although their assets totaled $2,261,150, the couple owed $8,709,831.34.

Yikes!

They owe more than $33,000 on several store credit cards, $85,000 for home repairs and $91,000 for materials to build their new home.

Considering she flashed all that bling on the show, we love that Teresa is the one to face bankruptcy.

“When people fall, the way to success is to get up and learn from our mistakes. We are in that process,” said the Housewife.

Riiiight.

[Image via WENN.]

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