Although Teresa and her husband only show $79,000 or so as income on their tax returns, they owe millions. They are going through foreclosure on three homes, and a recent auction that was planned for this month (and is now postponed until October).Â They filed for bankruptcy in October of 2009.
Since then, Giudice has earned money on her book “Skinny Italian.”Â It is the advance that she used on her $60,000 shopping spree. Her attorney said â€œShe needed to re-buy furniture because she didnâ€™t have any furniture in the house. Itâ€™s a big house and she wanted furniture consistent with her style on the show. There is nothing wrong with doing that, except that it doesnâ€™t look good for her to be doing it.”
He went on to admit that it didn’t look good, but that the courts aren’t there to tell people how to spend their money.
So I guess Teresa Guidice is “entitled” to go out and spend more than many people make in a year, amid a financial meltdown.Â I guess herÂ creditors have no right to feel “entitled” to getting paid back foir the money that was stiffed?
And I thought the Bankruptcy reforms in 2005 fixed all this…guess I was wrong.