It sounds like they might have a shot of salvaging their financial mess!
Real Housewives of New Jersey star Teresa Giudice and her husband, Juicy Joe, are reportedly holding a private sale for their household furniture, but in an attempt to keep their things, have made an offer on their own items!
According to a notice of proposed private sales, the reality couple have offered the court $15,000 with exemptions totaling $29,405 (totaling $54,405). This means that if the judge approves the price, and no other parties outbid them, this mess will finally be resolved!
According to their bankruptcy attorney James Kridel:
"There has to be the highest and best offer. Best means a lot of things. If someone offered $500 more and in two payments, that's not the best offer [if someone offers less but in one payment]. So there is a little variable there. The judge has some discretion as to what that means. It's like an old expression, 'the law is whatever the judge says it is.' It's not all black and white. They do it on purpose to give the judge discretion to do the right thing, quite frankly, that's my opinion. We did it knowing that we were overvaluing it so as to preclude someone else from coming in. Because someone is not going to pay $10 for something that is worth $5. In my opinion, it would have to be out of spite or out of ignorance. Because whereas my mattress might be worth the replacement cost to me, it's probably worth almost nothing to someone else, so the real value of it would be ridiculous. Or I might have a figurine that's used and no one is going to pay for it. But it might have some sentimental value so that is really what was factored into that and that's why we were willing to pay more for it is because it's something [my clients] liked."
We sincerely hope that these two can hold onto their belongings and put these crazy monetary issues to bed, but ultimately, that's up to the judge!
Either way, we doubt that there's going to a lot of extravagant spending from Teresa on the upcoming season of Housewives!
Lesson learned - we hope!
[Image via WENN.]
Tags: attorney, bankruptcy, belongings, furniture, james kridel, joe giudice, juicy, legal matters, offer, private sale, real housewives of new jersey, teresa giudice