New Jersey Housewife Teresa Giudice is Broke

June 7, 2010 By:
New Jersey Housewife Teresa Giudice is Broke

Don't be fooled by Real Housewives of New Jersey's Teresa Giudice's diamonds, shopping sprees and extravagant lifestyle because she's broke!

Teresa and her hubby Joe have filed for bankruptcy following reports that they're almost $11 million dollars in debt.

“While this is a personal matter, I realize that certain aspects of my private life will always be subject to scrutiny and distortion,” Giudice says in an statement to People.

“What is true is that due to the economy, most of my husband’s real estate ventures failed despite his hard work and effort. As a result, we looked to the Bankruptcy Court for a ‘fresh start.’”

According to documents, they filed for bankruptcy in October 2009. They also have to attend regular credit counseling sessions.

When people fall, the way to success is to get up and learn from our mistakes,” Teresa says. “We are in that process.”

Maybe this will be a humbling experience for Teresa...especially since she reportedly only gets $800 an episode.