Even if you aren’t a fan of the Real Housewives of New Jersey, it is likely that you have heard about Teresa and Joe Giudice’s money troubles. The “dream house” they built for themselves was looking at foreclosure and their expenses and income were near equal. As a result, Teresa and Joe decided to file bankruptcy.

“What is true is that due to the economy, most of my husband’s real estate ventures failed, despite his hard work and effort. As a result, we looked to the Bankruptcy Court for a fresh start,” said Teresa of their current situation. While they aren’t the first famous people to file bankruptcy, they are one of only a few who has openly discussed it—and it is to the benefit of those who are listening.

Teresa is discussing something that many hard-working, American families are facing today: overwhelming debt. There are many things to be learned from this housewife, the most important of which may be that hard times can fall on anyone. And her openness with their situation is inspiring, hopefully proving to people that bankruptcy isn’t for deadbeats, it is a tool that is available when the times get tough.

As Teresa put it, “When people fall, the way to success is to get up and learn from our mistakes.” This is what the Giudice family is doing—and you shouldn’t be afraid to either. Want to learn more about bankruptcy? Request a free copy of my Illinois and Missouri bankruptcy book, “Get Out of Debt: Secrets Your Creditors Don’t Want You to Know.”

Tags: famous people to file bankruptcy, illinois bankruptcy book, joe giudice bankruptcy, missouri bankruptcy book, teresa giudice bankruptcy

This entry was posted on Tuesday, June 22nd, 2010 at 9:46 am and is filed under bankruptcy. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.