How Could Teresa Giudice Blow $11 Million? The 'Real Housewife' Tells All!

The Real Housewives of New Jersey star says she was "shocked" to learn just how much cash she owes

When reports surfaced that reality star Teresa Giudice was $11 million in debt, fans were shocked. But it turns out no one was more surprised by the financial crisis than Giudice herself.

In the new issue of In Touch, The Real Housewives of New Jersey star says that she was "humiliated" when she was told by her lawyers about the massive amounts of cash she and her husband owed. She says she was unaware of the major debt they had incurred.

"Joe thought things were going to get better," she explained of her husband's real estate business.

But even after getting the bad news about their lacking back account, Giudice continued to spend freely, reportedly dishing out $60,000 on home furnishings.

When Giudice appeared on The View and attempted to tell the ladies that she had curbed her irresponsible spending, Joy Behar put her in her place. "How can you live within your means if you're now $11 million in bankruptcy?" the tough host asked.

Since then, the Bravo star says she has seen the error of her ways and that both she and Joe have taken steps to get their finances back on track -- including having their kids wear each other's hand-me-downs.

"Me and my husband have learned a lot from our mistakes," Giuidice said. "It's brought us closer together."

Do you think Teresa and Joe have learned their lesson? Chime in below!

Like This? Read These:
- The Truth Behind Teresa Giudice's Nephew on Housewives Reunion
- Teresa Giudice Blames Bravo for Financial Woes
- Teresa Giudice Celebrates Bankruptcy with $60,000 Shopping Spree!
- We Hate to Love... Teresa Giudice's Tanning Salon Commercial

Connect with Us
Follow Our Pins

Yummy recipes, DIY projects, home decor, fashion and more curated by iVillage staffers.

Follow Our Tweets

The very dirty truth about fashion internships... DUN DUN @srslytheshow

On Instagram

Behind-the-scenes pics from iVillage.

Best of the Web