"TERESA GIUDICE" EN BANCARROTA Y OBLIGADA A SUBASTAR TODAS SUS POSESIONES" INCLUYENDO JET SKI, UN GRAN PIANO Y UN ARADO MOTONIEVE".

"Bankrupt Real Housewife of New Jersey

Teresa Giudice, forced to auction ALL her

possessions "including jet ski, grand

piano and snow plough".

"The Real Housewives of New Jersey are known for living large and spending lavishly".

"27.07.2010."But now Teresa Giudice, star of the hit US reality TV show, will have to watch her beloved material goods being auctioned off to the highest bidder. Teresa, 38, who is known for her catchphrase 'fabulous!', and who owns online boutique TG Fabulicious, declared bankruptcy with her husband Joe last October".

"Still smiling: Teresa and her husband Joe attend the season two premiere of The Real Housewives of New Jersey in May following their bankruptcy in October".

"Papers show that the couple owe $104,000 on various store credit cards, including $20,000 to Bloomingdale's, Neiman Marcus and Nordstrom. They also have 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".

"High maintenance: Blinged up Teresa Giudice at an event in New York last year".

"In June a trustee for their bankruptcy case alleged in court papers that the couple had tried to hide their assets. They supposedly concealed profits from her book Skinny Italian and his stake in a pizzeria".

"The trustee, John Sywilok, also accused the pair of undervaluing items so they could be saved from the bankruptcy and stay safe from auction. These included a pool table and even their wedding rings".

"Now, those much-loved things will be going up at auction on August 22nd at their New Jersey mansion".

"During the show’s first season, the Giudices were seen moving into the $1.7million house and shopping almost constantly. But when things took a drastic financial downturn for the family last year, Teresa said they hoped for "a fresh start" by filing for bankruptcy".

"Teresa has been married to entrepreneur Joe for 10 years and the couple have four daughters, Gia, nine, Gabriella, five, Milania, three and eight-month-old Audriana. The children enjoy an endless round of music and dance lessons".

Teresa said: "Due to the economy, most of my husband’s real estate ventures failed despite his hard work and effort".

"The couple's possessions for auction can be viewed online".

"Items available for purchase 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".

"The family's lawyer Jim Kridel said they hadn't lied about their assets or undervalued their property".

"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".

"Teresa herself is apparently upset. Her lawyer continued: '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".

"None of this seems to have dampened Theresa's passion for shopping though. Earlier today she tweeted: 'I love my newest pair of A7 jeans that Meital suggested I wear. They have "the" most gorgeous clothing".