Convicted Felon, Teresa Giudice Bankruptcy Finalized: Creditors Owed $13.4 Million

Posted on Sep 3 2014 - 5:24pm by Editor

teresa-giudice-crying (1)

Real Housewives of New Jersey,” corrupt couple, Teresa and Joe Giudice’s bankruptcy is coming to a close.

John Sywilok, the bankruptcy trustee overseeing their case has entered his final report. According to the report, Teresa and Joe Giudice have only paid $7,500 of their million dollar debt and still owe a whopping $13.4 million to their creditors. Once the Bankruptcy judge signs off on the trustee’s final report and the case is finalized, creditors can once again pursue their claims and recoup what’s owed to them.

“They are going to owe whatever they owed, as if they had not fought bankruptcy,” says Ronald LeVine, a Hackensack bankruptcy attorney unconnected with the case. “They’re completely stuck with their debt.”

That means their debt will NOT be ELIMINATED. Once their case is finalized in the courts, creditors can pursue liens against everything they own and garnish their Bravo paychecks, endorsement deals and book deal risiduals. The couple will be paying off the $13.4 million dollar debt for years to come. The trustee attempted to satisfy creditors through the Giudices’ homes and possessions, but they were mostly financed to the hilt. The final report states the trustee was able to secure $15,000 from the couple as an alternative to seizing and selling off their household goods and furnishings, but most of that went toward bankruptcy administrative costs.

Giudice residenceThe Guidice Mansion in Towaco, NJ

On March 4th, the couple pled guilty to a litany of felony charges; wire fraud, mail fraud, loan application fraud and perjury. The couple stole over $5 million from numerous banks. However, in spite of their legal drama, Teresa and Joe continue to live lavishly, splurging on luxury vacations, expensive gifts and extracurricular activities for their kids. The couple exhibit classic sociopath traits. They have no remorse or guilt for their actions or the people they hurt.

It was the couple’s 2009 bankruptcy filing that alerted the feds into their other criminal deeds. Had they not filed bankruptcy they could have potentially gotten away with their crimes.

The Giudice’s are awaiting sentencing on October 2. Joe Giudice faces a recommended sentence of 37 to 46 months, while Teresa Giudice faces up to 27 months or the possibility of house arrest.

 

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  • cutie pie

    thanks for the update..

    • Tre’s a Convicted Felon

      CUTIE!!!! Great to see yur little Betty Boop avatar!
      Happy to YOU!

  • twifan2

    :/
    “In other Teresa news, the reality star showed up to a fundraising event for State Sen. Raymond Lesniak last week.”
    OMG! Is she trying to smooch politicians now?! >(

    • WestCoastFeed

      Is Teresa a Democrat?

      • I’m confident she can’t differentiate between parties.

        • Pinky Pie

          I thought convicted felons lost the right to vote. ???

          • twifan2

            Birthday parties & Felonellini parties, Pinky Pie. That’s what Tre can’t differentiate from. ;D

      • twifan2

        I think she sways to whomever will benefit her the most. :/

        • And managed to convince somebody to serve Fartalinni.

          • twifan2

            Don’t forget her crappy pasta stuff! :p

          • I just lost my appetite.

          • Tre’s a Convicted Felon

            Or was it crappy stuffed pasta??? :p

          • twifan2

            It crappy stuff stuffed pasta with a a crappy sauce. ;D

    • KJ

      Omgosh! Thanks Twi!!
      That’s crazy!!

      • Hi my love! Hope you had a pleasant Labor Day weekend.

        • KJ

          Hey doc!

          • Oh no… I’m sorry to hear that. I wish her a speedy recovery. ((((Hugs))))

          • Tre’s a Convicted Felon

            Bless YOUR and YOUR Sweet Daughter’s Heart!
            Sending my Angels to YOUR Angels to offer any assistance that they can bring for your family!

          • KJ

            Awe God Bless you!
            That’s so sweet she one tough lady! I’m so Blessed!!

          • twifan2

            You are her angel and she is your rock! 🙂
            Love, hugs, prayers to you both! 🙂

      • twifan2

        Crazy is as crazy does!
        AND that’s Tre—>CRAZY!

        • Tre’s a Convicted Felon

          With a twang like “the nanny” crazy!

    • Jennymckitty

      I’m surprised he let her in. Wow, Twi, thanks for the info. Wonder if she sold autographed photos?

      • twifan2

        Bet she tried, Jennymckitty! 😀

      • WestCoastFeed

        He didn’t know who she was. But noticed that his guests did.

        • twifan2

          Yep! AND now ‘Lesniak said he will be sure to invite her to his next fundraiser.’
          I think that’s called political suicide! 😀

          • Tre’s a Convicted Felon

            Oh my, oh my, oh my…when she’s trotted off to prison does anybody really think that he will attempt to still remain gentlemanly toward her in future??
            Maybe the guest that brought her will have their name earmarked to not be let in again for fear of what fresh hell they will bring next time. Bummer ay!

  • WestCoastFeed

    Thanks for the blog on this since other bloggers are claiming that Tre and Juicy are getting off scot-free.

    • KJ

      WCF, did you see my question where they said that mellisa & joe are going to get te kids when they go to prison??
      Had you or anyone else heard that??

      • twifan2

        IF they do get the kids, the Gorgas can think of it as God’s joke on them! 😉

        • KJ

          Omg!
          I hope they bring sense to them! They have ALOT of work to do! I hope Mellisa has a shitload of patience!! Dear Lord I will pray for her!
          She better not leave them to her mommy & daddy!! Dear God! That would not be nice!!

          • WestCoastFeed

            Tre’s father has emphysema. I don’t think he has the strength for those kids.

          • KJ

            Amen sister!!

      • WestCoastFeed

        I thought I answered it, sorry. That was a rumor on a different blogsite. I think Melissa would take one or two, but probably not all four.

        • KJ

          You might have I got one here & stayed

      • Marsbars09

        Joe and Tre don’t want their daughters going to Joey and Mel. They want Joe’s side of the family to take care of them.

    • twifan2

      Yes, you read their title of their article, then you read their story & it’s confuddlement galore! :/

    • Marsbars09

      I don’t see how Tre and Joe could live so carefree with millions of dollars of debt over their heads. And they were still spending money like they were rich!
      Unbelievable.

      • Tre’s a Convicted Felon

        Those widgets think they have bloody nuffin’ to lose.
        W-idiots!

  • Jennymckitty

    Let the lawsuit filing begin……

    • And checks garnishing!!! Woohoo!

      • twifan2

        You better believe old Tre there will have
        *CASH ONLY* No Receipts
        tattooed to her non-existent forehead! 😀

        • Tre’s a Convicted Felon

          Oh Twi, that would mess up her wig hat hair style action, don’t cha think.

          • twifan2

            Nope, she can carry ‘the look’ off, TaCF! 😉

          • Tre’s a Convicted Felon

            Hey, I think with a bun she might be very swank and swave!

      • Marsbars09

        Hi Doc! I hope the creditors take the Giudices’ last material possessions. They didn’t purchase those things with legitimate funds so it only makes sense the people owed can seize them.

        • Tre’s a Convicted Felon

          RIP THAT WIG RIGHT OFF HER HEAD!

          • Marsbars09

            LOL! You’re so crazy TCF.

          • Tre’s a Convicted Felon

            Why…Yes…Yes I am!
            But I’m a fun sort of crazy!

    • Tre’s a Convicted Felon

      There will be a line out the door ….like a movie premier!

      • twifan2

        I’ve got popcorn & wine for the event! 🙂

        • Jennymckitty

          Don’t you mean Fabulini and sprinkle cookies?

          • twifan2

            OH HE77 NO Felonellini! >(
            I value my friends! 🙂

          • Tre’s a Convicted Felon

            Only the best for US!

          • twifan2

            Ripple on the rocks! ;D

        • KJ

          No butter on mine & you know me I love BUDLIGHT

          • twifan2

            *writes down KJ’s order*
            Check-got you covered! 🙂

          • Tre’s a Convicted Felon

            I’ll bring some hard cider. I just picked up some Pineapple Hard Cider. I’ll test drive it this weekend and let y’all know how it goes down.

          • twifan2

            *gets 911 on speed dial ready*
            Ok, I’m set! 🙂

          • Tre’s a Convicted Felon

            You know what they say about them boys in uniforms…ooo la la!

          • twifan2

            Tres’ Tres’ Jolie! 🙂

          • Tre’s a Convicted Felon

            I’m droolin’ just thinking about it.
            And if you put Idris in one of those uniforms…OH MY…I think that will take my air away and make me blush red! Sheweeee!

          • twifan2

            DANNG! Did it get warm in here now?! :/

          • Tre’s a Convicted Felon

            I think soh!!!!!

      • Marsbars09

        Hi TCF! I just commented most of those folks won’t see a dime of what’s owed them. 🙁

        • Tre’s a Convicted Felon

          Yep, I would bet dimes and nickles that what you said is going to be Ding Ding Ding THEE MOST LIKELY PREDICTABLE OUTCOME!

  • Marsbars09

    I’m glad the trustee was finally able to put the bankruptcy to rest. That closes a chapter in the Giudice saga.
    I just feel bad for all the folks that were suckered and cheated by Joe & Tre. Most of them will never see a dime of the money due them.

    • twifan2

      They can move to have the Juicys’ paychecks garnished, Mars! 🙂

      • Marsbars09

        I know, but it still won’t be enough to satisfy their huge debt. At least some of the creditors will receive some payment.
        Also, the Giudices’ won’t be earning any money while they’re incarcerated, so I don’t see how wage garnishment will make a difference.

        • twifan2

          The Juicys’ future earnings will be garnished. They’ll have to work FOR the people then! 🙂

          • Tre’s a Convicted Felon

            Somebody said that even after Sammy Davis Jr. died, his widow still had to pay off his IRS debts.
            Maybe the fambly can pony up the bucks to pay off their 13.4 gazillion dollars in debts…Yeah Right!

          • twifan2

            PUT Milania to work! ;D

          • Tre’s a Convicted Felon

            Everybody knows that Demonia loves to work it!

          • twifan2

            Work it little darlin’ ;D

            http://i.imgur.com/m44IZ1C.gif

          • AHAHAHAHAHA!!!!!!

          • Tre’s a Convicted Felon

            That’s prefect…uh… I mean PERFECT!
            I hope she practices going up and down that pole before she tries to impress the masses.

          • twifan2

            Well if she goes to stay with Auntie Melissa, she can get some pointers then. 😀

          • Tre’s a Convicted Felon

            Now, that would be a mess to feature…Demonia/Milania and Antonia bustin’ out some of their pole moves for their dance coaches.
            I so would not want to see that!

          • Marsbars09

            Oh Twi!

          • twifan2

            😉

          • That’s right. Creditors can enforce judgements against an estate after death.

          • twifan2

            I wish I could see Tre’s face when she ever realizes that! 🙂

          • Tre’s a Convicted Felon

            Ah Ha Ha Ha Ha Ha Ha…
            That’ll blow her wig hat to oblivion!

          • twifan2

            FREE THE FOREHEAD! 😀
            It could finally see daylight then! YEAH!

          • Marsbars09

            LOL! Great one Twi!

          • twifan2

            Hip Hip Hooray for the forehead! 🙂

            http://i.imgur.com/nRqxF90.gif

          • Bwahahaha! Free wifi at the local Mickey D’s.

          • itsjustme

            I’m pretty sure she hasn’t a clue what those big words mean. She probably had to have Gia explain everything to her. IMO she comes off as dumb and ignorant as a box of rocks!

          • Trippinhhard

            That’s true—they were taking pictures off the wall, his wife had no ideal, he owed Uncle Sam. Willie Nelson (Farm Aid) owed millions, they took some of his property n he n some buddies had concerts to help him pay his debt. Willie’s accountant had stole all of his liquid assets.
            They can move a trailer or camper on that property of Teresa n Joe..
            Some of those creditors will only get pennies on a dollar, that’s the shame of all….they keep living lavish n the creditors are still trying to get what’s owe to them.. Ugh Crooks are crucial to banks….

  • BuckJohnson

    You don’t understand, now the creditors will be investigating how they are paying for their food utilities and other things. How they are going on trips and such. If they can get jewelry they will get it, if they can find assets that where missed they will get it. Trust me, they are far from being over this crap. Once Juicy is in prison and Teresa is alone do you think Joe’s family is going to help her that hard. They won’t, because in their mind they believe that she was the reason he’s in prison to keep her looking lavish. Yes they will look after the children and such but they won’t be funneling large sums of cash to them to get around debt.

    • Thank you for providing this info. I knew the creditors would be coming after her full force but I had no clue they would be investigating how she paying her other bills. You must work in the credit industry?

      • TartLemon

        Any news on whether Bravo will be covering her ass again with a HUGE contract? I hope they don’t.

        • It’s very likely Bravo will increase her salary for season 7 but it still won’t make a dent in the millions she owes.

      • BuckJohnson

        Here’s something else they have to consider also, they still owe money on the taxes they didn’t pay. Remember the IRS will want it’s money of 58,000 but they owe NJ $441,000 in back taxes and they will put a lien on that house. Even though it’s mortgaged to the hilt on 3 mortgages they won’t care those mortgages will be put on them. I’ll post a link to a pdf of their bankruptcy.

        https://stoopidhousewives.files.wordpress.com/2014/09/118141536799.pdf

  • CeeJay

    Thank you for representing the facts here. Too many other sites are misrepresenting the facts, giving the impression they have resolved their debts. They have not.

    • Hey CeeJay! Nice to see you here. Long time! 🙂

      • CeeJay

        Hey, hey Dr. Seuss! Wondered where you and West Coast went to. I stop by RT every now and then, but too busy to spend much time elsewhere. Happened upon this site a bit ago and mostly read, but wanted to comment today because it’s one of the only sites that’s reporting this accurately. I’ve been blasting the RT Tre huggers (well the few who are left anyway) who think their debt has been forgiven. It never ends with those folks…lol!

        • So glad you decided to comment. This my new “home” as well as WCF and a few other RT’ers. I was wondering what happened to you as well. So many old posters I miss interacting with. Please bookmark this site and keep coming back. ((((Hugs)))))!♥

          As for the last die hard Walking Dead Trehuggers. They’ll NEVER get it. In their eyes any glimmer of hope makes their delicate hearts flutter. LOL! And some sites choose to keep the rose-colored glasses on than to report the truth. It’s sad. 🙁

    • WestCoastFeed

      Thank you. CeeJay, for what you did over at that other site and got them to correct their errors on this topic. Congratulations on your perseverance with them Do join us often here, please.

  • TartLemon

    All the $$ they are paying to their attorneys could have been paid instead to the creditors and the Giudices would not be in this mess. Instead, they tried to con everyone out of what was owed. Now, nobody but the attorneys and courts will get any $$$. The domino effect of this is sad. It’s not just finance institutions, but small business people as well. People who provided goods and services in good faith. People who have their own bills and families to support while Teresa sends Gia on these outrageously expensive and unnecessary trips and summer camps. Phones and designer wardrobes all around.

  • itsjustme

    I have a question for everyone, Something I don’t believe I’ve seen asked anywhere and haven’t seen answered in any posts. If the Guidices’ pled guilty on those charges as a plea deal, is it possible part of the plea deal would be that Tre got house arrest while Joe went to prison?
    I don’t know how the feds work with deals or if that would even be possible, but it is something I have been wondering.
    I’d HATE to see her skate with just house arrest. That would sicken me to no end!

    • TartLemon

      Makes sense to me a plea deal would include a deal for sentencing. BUT I’m pretty sure it would not include dispensation for Teresa to continue blatantly breaking the law with such activities as the ‘cash only no receipts’ appearances.

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