The bankruptcy trustee overseeing Teresa and Joe Giudice's case submitted its final report this week, and it shows that the Real Housewives of New Jersey couple owe creditors $13.4 million and have repaid just $7,500 of their debts. The documents also reveal the Giudices' apparently luxurious lifestyle was one they had almost no equity in, the New York Daily News reports: They had just $140,000 in equity in their $1.7 million house, and no equity in their two other properties, their Maserati, their Cadillac Escalade, their Ford 350, and pricey "toys" like a Sea-Doo, a Kawasaki quad, and two go-carts.
Though TMZ and Radar report that the bankruptcy judge will erase the couple's millions in debt (but both still face prison time for bank fraud; they'll be sentenced July 8), the Star-Ledger and NorthJersey.com say that's not so. They report creditors can now pursue the couple; a bankruptcy attorney not connected with the case says, "They are going to owe whatever they owed ... They're completely stuck with their debt." As evidence, perhaps, of how hard-up she is now, Teresa Giudice was recently charging $25 a pop for an autographed copy of her book ... and would only accept cash. (Read more Teresa Giudice stories.)
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