'The Real Housewives of New Jersey' Teresa Giuidice Bankruptcy Update, Seeks Cash Only for Appearances [REPORT]
The Real Housewives of New Jersey star Teresa Giuidice has found a clever way to earn additional income without Uncle Sam's knowledge. She reportedly accepts only cash when getting paid for publicity appearances.
Giudice, who has become one of the highest paid reality stars of the Housewives' franchise, has been using her popularity to hawk herself and her products at events.
"Teresa will go to a book signing or a café or party, and she gets paid cash by people that arrange her appearance, not Bravo but other people," a source close to the reality star told Radar Online.
Whether it's a store opening or a book signing, at the end of the event, Giuudice is handed an envelope with cash, said the insider. Even if she makes profits from her books at a book signing, she still receives a separate fee in cash for her appearance.
"Straight cash, not a check or anything," said the source.
Could the side income be a move to hide her earnings from the IRS?
People reported in June, 2010 that Giudice and her husband, Joe Giudice, filed for bankruptcy in October 2009 over various outstanding debts to creditors that totaled almost $11 million. The news was a shock to fans because Teresa and Joe displayed a lavish lifestyle during the first season of TRHONJ. She often flashed wads of cash, bought expensive toys for their kids and even spent $2,000 during a 10-minute shopping spree in one episode.
The New York Post reported the couple's list of financial woes itemized in their bankruptcy court papers filed in Newark, NJ.
The couple requested that the court stop a bank foreclosure on their $1.8 million home in Towaco, NJ. They owed $12,000 to a fertility clinic, defaulted on payments to their Cadillac Escalade and Joe owed $5 million to business partners from several real estate deals. The couple claimed in the documents that their combined income was $79,000 a year at the time.
The couple were caught going on a $60,000 shopping spree less than year after they filed bankruptcy, according to PopEater.
The seventh episode of The Real Housewives of New Jersey season 5 will air on Sunday, July 14 at 8 p.m. EST on Bravo.
Watch Teresa Giuidice explain the bankruptcy filing on The View below.
