Since declaring bankruptcy last October, Real Housewives of New Jersey star Teresa Guidice and husband Joe have had to curb their lavish spending.
And now that all their belongings are up for auction, the desperate Guidice's are claiming barely anything they own is valuable.
That includes 38-year-old Teresa's jewellery, which she insists is all fake.
Fake bling: Real Housewife Teresa Guidice claims she owns nothing but costume jewellery
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According to RadarOnline, Teresa is claiming all her 'real' jewellery -apart from her wedding band - was stolen.
'My jewellery got stolen a couple years ago at our house in Lincoln Park…we had a break-in. So unfortunately, a lot of – all my jewellery got stolen there,' she says.
'It’s all costume jewellery… and if you look at what I wear, it’s all costume jewellery.'
When asked by Sywilok how much the insurance company paid her for the loss, she said, “like 20?”'
But Sywilok wasn't having any of it.
Denial? Bankrupt Teresa Guidice insists her house is not in foreclosure
'You had a claim here much greater. It was like 120,000,' he said.
'Well, I mean, you know, when you get estimates from jewelers, they always put it for more than what it is,' Teresa said.
Sywilok also believes the Guidices are hiding profits from Teresa's book Skinny Italian, and Joe's pizzeria.
This is all a far cry from season one of show, where the Guidices and their three daughters (Teresa was pregnant with the fourth) moved into their $1.75 house and went on wild shopping sprees.
But Teresa refuses to accept that their spending habits could have contributed to the financial disaster they found themselves in, blaming it all on the economy.
Teresa insists, 'Due to the economy, most of my husband’s real estate ventures failed despite his hard work and effort.'
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| Photo: Bravo |
Items available for purchase through the auction include a jet boat, a snow plough, a grand piano, two flat-screen TVs, decorative fireplace accessories, a faux marble chess set, a suit of armour and several chandeliers.
And the Guidice's lawyer Jim Kridelis insisting the couple are doing nothing underhanded where the value of their property is concerned.
He told People.com: 'You can’t sell used, personal property for the sticker price. A $5,000 chandelier won’t sell for $5,000. Nobody will buy a used mattress. The real issue in bankruptcy is, what’s the value of everything? And at the time of the bankruptcy, these things didn’t have any value.'
'I don’t think Teresa is happy seeing all her belongings displayed on the Internet. Clearly they are under the microscope because they are famous.'
According to court papers, the couple owe $104,000 on various store credit cards, including $20,000 to Bloomingdale's, Neiman Marcus and Nordstrom. There are also unpaid bills of $85,000 for home repairs and $12,000 in fertility treatments.
Their total debts (estimated at $8.7 million) far outweighed their assets (estimated at $2.2 million).
Teresa and Joe have been married for ten years and the couple have four daughters: Gia, nine, Gabriella, five, Milania, three and eight-month-old Audriana.
The Real Housewives of New Jersey had its final episode of the season on Monday night.
3.4 million total viewers tuned it, making it both the season's most-watched episode and the network's highest-rated Monday telecast to date.
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I have proof ... documented proof that the "Skinny Italian" was written prior to Teresa Guidice filing for bankruptcy. ALL of the money from that book should go back to the creditors that got screwed by their fraud.
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