Damn, that's a lot of credit.
Those bankers who lent out the money to Teresa and Joe Giudice must be HUGE Real Housewives of New Jersey fans.
Because from what we're hearing, it's been a long time since Tre and her Juicy Joe had a life that didn't require them to live off credit.
In bankruptcy docs, it has been revealed that they have almost NO equity.
The two reportedly have a $1.7 million house with only $140K in equity as well as two other homes that have no equity. But that's not all…Tre and Joe have plenty more! They have a Maserati, an Escalade, a Ford 350, a Sea-Doo boat, a Kawasaki quad, 2 go carts, and much more, all of which has no equity.
Basically, the have nothing, except for dogs they valued at $600. Unfortunately, a bankruptcy trustee decided that wasn't correct.
Now, the wine-making, table-flipping duo will be paying creditors $7,500, while getting cleared of $13 million in debt which includes $5.3 million owed to Wachovia Bank.
But maybe the banks will find a little justice has been served when they watch the two dragged off to prison.
We kid, we kid!!
[Image via WENN.]
Tags: bankruptcy, debt, joe giudice, legal matters, money, new jersey, real housewives, real housewives of new jersey