The bankruptcy case for reality TV star Teresa Giudice has been reopened. Teresa, and her husband Joe Giudice, were previously convicted of bankruptcy fraud and sentenced to prison terms. Now the Giudices have another chance to properly acknowledge their debts while filing for bankruptcy.
The reality television stars recently spoke to the media, through their attorney, and said that they are taking care to ensure that all of their debts, liabilities and financial matters are accounted for this time around.
The Giudices have reportedly remained in contact with the Internal Revenue Service (IRS), relevant NJ government agencies and federal prosecutors in their bankruptcy fraud case while they attempt to negotiate a repayment schedule. This kind of debt repayment plan is not uncommon in bankruptcy cases – especially when the financial liabilities involve tax obligations – as it allows the debtor to make good on their outstanding debts and pay back at least some of the creditors to whom they owe money.
After Teresa served time in a federal prison for failing to report income from her popular reality TV show, the Bravo network’s “The Real Housewives of New Jersey,” the Giudices are probably eager to take steps to pay the past due amount on their taxes and avoid any further penalties in the bankruptcy case. Joe Giudice is currently serving a 41-month prison sentence for his role in the bankruptcy filing deception.
The Giudices have reportedly already made payments to the IRS to cover their anticipated tax obligations for 2016 – payments that are not technically due until next year. These early payments were made in accordance with the terms of an agreement that the couple reached with federal prosecutors in their bankruptcy fraud case.
Since being released from prison in December 2015, Teresa Giudice has been working hard to get her family’s finances back on track, formulating plans to produce a personal yoga DVD series and yoga clothing line so that she can start generating income. This kind of “fresh start” is exactly what a lot of people who file for bankruptcy look to achieve.
For additional information about this high-profile bankruptcy case, read the Yahoo.com article, “Real Housewives of New Jersey’s Teresa Giudice Confronts Overdue Taxes Head-On as Lawyer Says She and Husband Joe ‘Have Successfully Negotiated a Repayment Schedule.’”
If you are dealing with unmanageable debt and need a little help, it is imperative that you speak with a qualified bankruptcy and debt relief attorney. Joel R. Spivack is an experienced bankruptcy lawyer who will help you explore your legal options. Contact Mr. Spivack today to schedule a free consultation.