“Real Housewives of New Jersey” reality TV starTeresa Giudice and her husband have filed for Chapter 7 bankruptcy.
The Chapter 7 bankruptcy has been filed in the United States Bankruptcy Court for the District of New Jersey.
The bankruptcy filing shows that Teresa Giudice and her husband owe $11 million dollars in debt and earn about $79,000 a year.
A Chapter 7 bankruptcy allows a debtor such as Teresa Giudice and her husband to get rid of their unsecured debts, such as credit card debts, and also gives the couple options as to what to do with their secured debts which in this case include several homes that, according to the bankruptcy filing, are in various stages of foreclosure.
A copy of the original bankruptcy papers for Teresa Giudice can be found at JDSupra.
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