Real Housewives, Real Bankruptcies

Do you ever flip to Bravo and think that these people shouldn't be spending that kind of money in this kind of economy?

Little did they know, many of these real housewives would be spending a considerable portion of their remaining wealth on a bankruptcy attorney.


real housewives and bankruptcy

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Sonja Morgan

Ex-wife of a J.P. Morgan descendent turned "Real Housewife," Sonja has reported that the bankruptcy left her "heartbroken," and that her Upper East Side townhouse means everything to her.

Show:

  • New York

Date and Type of Bankruptcy:

  • November 17, 2010
  • Chapter 11

Owes:

  • $19.8 million
  • $7 million of that will go to Hannibal Pictures for a film that was supposed to star John Travolta

Assets:

  • $13.5 million
  • $6 million Upper East Side Townhouse

Income:

  • $26,000/month

Leading Causes Behind bankruptcy

  • Poor business and money decisions
  • Lengthy unsettled divorce

Teresa and Joe Guidice

Two scarily tanned people living way beyond their means.

Show:

  • New Jersey

Date and Type of Bankruptcy:

Owe:

  • $10,853,648.04 (It's that $.04 that will break them)

Income:

  • $79,000/year salary
  • +$120,000 in "assistance" from family members
  • =$199,000

Leading Cause Behind Bankruptcy:

Insanely extravagant spending habits.

  • $104,000 in credit debt
  • $1,280 monthly payment on a Cadillac Escalade
  • $2.6 million on 8 mortgages for 3 homes
  • $5.8 million in business investments
  • $85,600 for home repairs
  • $12,000 for fertility treatments
  • $2,300 for their phone bill

Michaele and Tareq Salahi

Infamous for gate crashing at the White House, the Salahis declared bankruptcy in relation to a family winery, and lost a couple of expensive vehicles for it. Several lawsuits are also tied to the couple.

Show:

  • Washington, D.C.

Date and Type of Bankruptcy:

  • 2009
  • Chapter 11

Owe:

  • $1 million

Repossessions:

  • 2004 Aston Martin - $150,000
  • Carver 350 Mariner Boat - $90,000

Leading Cause Behind Bankruptcy:

  • Carrying on an extravagant lifestyle while handling a hefty business bankruptcy.

This infographic has been brought to you by Total Bankruptcy.

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This entry was posted on Thursday, December 6th, 2012 at 12:07 pm and is filed under Bankruptcy News and Events. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

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