“Real Housewives Of NJ” Teresa Giudice Is $11 Million In Debt

You thought you had credit card debt: a New Jersey bankruptcy court says Teresa Giudice and her husband, Joe, of “The Real Housewives Of New Jersey,” owe $11 million to creditors.

Court documents claim the couple’s income is $79,000, plus they receive $120,000 in “assistance” from family. Although their combined income of $200K is pretty sweet, it’s not enough to finance their blinged-out lifestyle.

Let’s find out: what the hell were this Jersey girl and her man buying?

  • The Giudices owe $104,000 on eight different credit cards, including almost $20,000 on cards for Nordstrom, Neiman Marcus and Bloomingdale’s.
  • A bank has foreclosed their $1.8 million mansion, their $279K Jersey Shore house has been seized, and they owe $1 million on another property. They also handed over yet another home which had four mortgages on it.
  • The Giudices defaulted $1,280/month payments on their black Cadillac Escalade.
  • They’ve got a $2,300 unpaid phone bill.
  • They owe a fertility clinic $12K for Joe Giudice’s vasectomy.
  • Joe also owes over $5 million to former business partners for real estate deals.

Oof. No way even the most generous Bravo paycheck is gonna get the Giudices out of that hole.

Suze Orman’s new BFFs remind me of another reality TV couple: the White House party-crashing couple, Tareq and Michaele Salahi. Like the Giudices, the Salahis were concerned with keeping up appearances of wealth (perhaps because they, too, were angling for a TV show). But once the couple became infamous, we learned the Salahis were also in seven-figure debt, their house had been foreclosed, and their luxury cars (an Aston Martin and a Maserati) had been repossessed.

Here’s an idea: maybe they can all do a reality show from a jail cell next to Bernie Madoff? [New York Post]