Teresa Giudice of 'Real Housewives' fame sees personal items put up for auction to settle debts

07/26/2010 by Kristina Lopez

After filing for bankruptcy, Real Housewives of New Jersey star Teresa Giudice is seeing her personal items up on the auction block in order to settle personal debts.

The auction is set to take place on Aug 22 at their mansion in Towaco, New Jersey, according to People . An auction website has the full listing of the items up for sale. Giudices attorney, Jim Kridel, said the couple is appealing the decision. I dont think Teresa is happy seeing all her belongings displayed on the Internet, he told the magazine.

The couple claimed when they filed for bankruptcy in October, that they owed nearly $11 million to creditors. The bankruptcy case turned ugly when the trustee for the case, John Sywilok, stated in court documents that the reality star and her husband had hidden assets and accused the pair of undervaluing their items. As a trustee, Sywilok is responsible for gathering the couples assets and, after placing the items up for auction, distributing the profits to the couples creditors.

However Kridel claims that many of the hidden assets were purchased after the bankruptcy petition was filed. As for the undervalued assets, he told People, You cant sell used, personal property for the sticker price. He added, Nobody will buy a used mattress. The real issue in bankruptcy is, whats the value of everything? And at the time of the bankruptcy, these things didnt have any value.

Other items on the auction block include a king size bedroom set, 42 LCD television and Schaefer & Sons Grand Piano.