Teresa Giudice auction

Teresa Giudice, "The Real Housewives of New Jersey" and her husband are facing bankruptcy, so August 22 will be a very important step in their lives, because their belongings will be auctioned off to help pay their $11 million debt.

Teresa and her husband filed for bankruptcy last october, when they couldn’t keep up with their bills, plus their $11 million in debts. Their belongings will be soled on an auction arranged by the court and trustee, though it might be a little hope not to do so. Their lawyer is still fighting the auction.

The star has managed to rack up serious debts in the past years, although they claim an income of $79,000 per year. Teresa Giudice herself has a monthly salary of $3,333 from Bravo TV and her husband claims $3,250 per month income from his stucco and stone company. The couple has a mansion in Towaco, N.J., that worth $1.8 million. The bills have overwhelmed them on two other homes, so they are into foreclosure : one in Lincoln Park and another on the Jersey Shore. They owe $12,000 to a fertility clinic and more the $5 million to a former real-estate partner. As an additional information can be noted that, Teresa claimed to spend around $400 a month on clothes – however, she has been filmed spending more than $2,000 in a 10 minute clothing shopping spree.

During the auction, scheduled on August 22 buyers will have to opportunity to purchase two flat-screen televisions, a pool table, sofas and chandeliers.

Category : Celebrities &Distressed Luxury Real Estate News &Headlines