Even The Famous Can Be Forced Into Bankruptcy!

Most of us have heard stories of the celebrities who are so broke they cannot pay for the mansions and the cars or the maids and the gardeners any longer. It happens much more often than we think and we only hear about it when the person is still on the A list or has had run-ins with the law or other officials.

Many times these same celebrities are forced to seek protection through bankruptcy and it does not always go smoothly, as the Real Housewives of New Jersey star Teresa Giudice has recently discovered. Many people will remember that the star and her husband Joe suffered from some real trouble during their bankruptcy filing when they “failed to disclose” or in plain English hid a large portion of their assets in order to avoid losing them during their bankruptcy proceedings. Well, as usually happens when people try that, the law caught up to them and the star was sentenced to a full 15 months in prisons and her husband Joe received a sentence of 41 months: A pretty stiff penalty to pay for trying to preserve a little wealth.

It would seem that the most recent part of this saga is Teresa trying to sue the trustees who facilitated the proceedings. It remains to be seen if her claims have any merit but if history shows us anything she may well end up on the wrong side again. This story should act as a true cautionary tale for anyone thinking of hiding assets from the trustee. Talk to qualified bankruptcy attorney before you do anything related to bankruptcy and get the advice you require and deserve. A Texas bankruptcy attorney will advise you on the best way to proceed with bankruptcy and help you keep the maximum amount of your possessions in the process.