1923LikesYep.....OC Vicki said that after she and Donn renewed their vows in paradise for the Bravo cameras, that they went to bed with their backs to each other.Originally Posted by Holly in SoCal
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Nothing like pretending and lying to yourself. Accept reality, and move on.
In March he was arrested and charged with wrongfully using the ID of another person and for forgery. He faces more than 10 years in state prison if found guilty. His bail was set at $50,000 with no 10 percent option. He made bail the next day. It is possible that his defense attorney will be able to plea bargain somehow to allow him to avoid jail. He will not however, be able to avoid a possible criminal conviction on his permanent record.
No stranger to fraud/theft via forgery, back in January Joe was ordered to pay $260,000 to his former business partner for forging his name on mortgage documents.
In addition to that, the Giudices are still required to stand trial on October 13 & 14, on charges relating to bankruptcy fraud. A conviction could carry a 5 year prision term, but it is more likely that there will be a heavy fine and their Chapter 7 bankruptcy claim will be tossed out.
Chapter 7 is the only form of bankruptcy which includes the discharge of debt as relief. A clean slate, in other words. Having their claim denied will mean they have to pay back the entire $11 million they owe.
It's not incoceivable that the judge would sentence Joe to some jail time. It's the same judge who heard the theft by forgery case, and found against him.
So wait a second here...they can discharge $11 million in debt...repay no one...still keep their home, business & cars??? Ok so explain where the money to open up an upscale with Teresa in new gowns every day????
If I understand correctly, Poppy said that the bankrupty claim was denied and they are indebted for the 11 mil. I rewatched most of the season yesterday and in the scene with their lawyer, i thought he said that their assets would be transferred to Teresa so that they couldn't be touched. Is that why the auction of their belongings never took place?
I'm saying it could be denied, next month at their fraud trial. I'm thinking it is probable that they will be denied.
Snow Bunny, if the court doesn't throw the bankruptcy petition out, the answer to your question is YES. Chapter 7 relieves you of the legal obligation to pay the debtors listed in your petition. There is an income ceiling on your eligibility for this form of bankruptcy relief, and the Guidices exceeded that ceiling and lied about it.
Keeping your home, as long as you are paying the mortgage, isn't an issue. The bank won't foreclose if you are paying, and the Guidices get $10K a month from their family to make the payment. The same holds true for auto loans, but I think they probably lease their cars.
I think Teresa's annouincement was pure b.s. The only way they could do that is if someone else in their family puts all the money upfront. Like Joe's dad did for the pizzeria.
Anything you spend or acquire after filing for Chapter 7 bankruptcy (given that the court OKs your petition) is exempt. So, if you could borrow enough money to open an upscale restaurant, nothing bars you from doing so.
So Joe & Teresa put all of their assests solely into Teresa's name & that is legal? IDK...what bank would give them a loan after a recently declared bankruptcy?
Wonder if they pay income taxes on that $10k/month?
Another question...the contractors they stiffed...can't they file a contractors lein against the house?
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