Where Are Our Celebrity Bankruptcy Debtors Now?

As many of you may be aware, for years now I’ve kept tabs on our celebrities who have sought bankruptcy relief in the past.  One of the most prominent bankruptlebrities is Teresa Guidice, one of the stars of the Real Housewives franchise.

About Teresa Guidice

If you will recall, Mrs. Guidice served 11 months in federal prison for bankruptcy fraud.  Her husband, Joe Guidice, is currently still serving his 41 month sentence for the same.  Teresa may have been placed in what has been described as a “country club” low security prison, but she says “not so much.”  She has related bathrooms being moldy and without running water, at times, as well as freezing showers.  She concentrated on her work in the kitchen during her confinement and earned .12 cents per hour for that work.

Since being released from prison, Teresa Guidice has sued the bankruptcy attorney who originally filed her Chapter 7 petition for malpractice and has reached a new deal with the Chapter 7 Trustee in her case to settle matters with her creditors.  Currently, she and her husband are working on restoring their relationship after he is released from prison.  On a current episode of the Real Housewives of New Jersey, Teresa made it clear that not only does she blame Joe entirely for the convictions for bankruptcy fraud, but she expects him to make it up to her when he gets home.  Nothing like accepting your own role in your mistakes, huh?

Disclosure Is Extremely Important in Bankruptcies

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.