Teresa GiudiceDon’t expect to see New Jersey housewife Teresa Giudice shelling out money anytime soon.  It was recently discovered that Giudice, 38, and her husband Joe filed for bankruptcy in October of 2009.

In a recent statement to People, Guidice said, “while this is a personal matter, I realize that certain aspects of my private life will always be subject to scrutiny and distortion. What is true is that due to the economy, most of my husband’s real estate ventures failed despite his hard work and effort.’”

The court papers show that the couple filed for Chapter 7 Bankruptcy and will have to undergo credit counseling.  The couple owes more than $33,000 on various store credit cards, $85,000 for home repairs and $91,000 for materials used to build their new home.  That’s over $200,000!

Teresa, who is known for spending lots of money and treating her daughters to expensive clothes on the show refers to the bankruptcy as a “fresh start”.

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