Teresa Guidice has rocked some fancy black outfits during her tenure on the Real Housewives of New Jersey, including the one here, but she has spent the last six months sporting the orange of the Federal Correction Institution in Danbury, Connecticut. Let’s catch up with Mrs. Guidice since being sentenced to 15 months in federal prison for bankruptcy fraud in federal court in 2014. She actually appears to be sporting a khacki ensemble while serving her time at Danbury. Her attorney, James Leonard, confirmed to People Magazine that Teresa is scheduled for an early release date on December 23, 2015, and that he does not believe the Guidices are in danger of losing their infamous house to foreclosure. However, just to highlight the consequences of what can be in store for a person who commits bankruptcy fraud, Teresa Guidice has been forced to turn over 25% of her television earnings, a 2005 Maserati, rental income and furnishings from her home in payment toward a $415,589.00 judgment resulting from her conviction. According to NJ.com, the bank holding the mortgage on the famous mansion featured on the Real Housewives of New Jersey has filed a notice of foreclosure on the home in April, 2015.
I have used this topic in prior blogs to emphasize how critically important it is to be truthful and to fully disclose all required information in bankruptcy schedules. You do not have to be infamous television reality stars like the Guidices to be convicted of bankruptcy fraud. It happens to ordinary people each year. The disclosure rules governing the filing of a petition under the Bankruptcy Code are critically important. It is, therefore, critically important to seek and follow the advice of competent bankruptcy attorneys. If you are considering relief, please contact one of our locations nearest you in Alabama, Mississippi or Tennessee for a free, confidential consultation with one of our experienced, licensed attorneys.
Carla M. Handy is the Managing Partner of the Bond & Botes Law Offices in Gadsden and Anniston, Alabama. She holds a Bachelor of Arts from Auburn University, and a Juris Doctorate from the University of Alabama School of Law. She has been helping families navigate consumer bankruptcy cases since 1994.Read her full bio here.