Heidi Montag and Spencer Pratt are apparently on the verge of filing for bankruptcy after they blew over $10 million they made from working on The Hills and other projects.
How did they spend all that money? Well they spent $3 million on Heidi’s flop of a music career, they rented out a $35,000 a month house in Malibu, they spent hundreds of thousands on Heidi’s surgeries, bought six cars, rented private jets and finally all of his healing crystals.
The couple, who claim that they owe $2 million in taxes, claim to be now living in Spencer’s parents guesthouse (which is a studio apartment) and that his parents are paying for their grocery’s. Spencer says…
“We were immature, worrying too much about the famous part instead of the actual business part, In hindsight, we shouldn’t have spent any of our money. We should have been low-key and saved. We spoke with a bankruptcy attorney and I’ve looked into unemployment checks.
We thought The Hills was going to be like 90210 and we’d have another five to 10 years, The ratings were consistent. But we never saw Jersey Shore coming. Before, TV audiences were fine with seeing us all argue, but now they want you to punch one another in the face and hook up with three different people. Our cast was a bit boring and snoozeworthy in comparison. No wonder we got canceled.”
I never know what to believe with these two, although they are so stupid I wouldn’t put it past them to spend that much money.
source: Heidi and Spencer bankrupt: How we blew 10 million [Life & Style]
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I thought I was bad when it comes to saving and spending money but holy shit Toni Braxton out does me 50 million times because she has filed bankruptcy for the second time in 12 years and owes out between $10 million and $50 million.
The singer has sold over 40 million albums but she claims that she’s only worth between $1 million and $10 million, meaning she can’t afford to pay any of her debts so she decided to file for Chapter 7 bankruptcy.
TMZ got their hands on the documents and it says she pretty much owes money to everybody in the country, including the DMV in California and Nevada.
She also owes money to the following companies: AT&T, The Four Seasons Hotels, Cedars-Sinai Medical Center, DirecTV, Neiman Marcus,The William Morris Agency, Tiffany & Co., Orkin Pest Control, The Internal Revenue Service, BMW Financial Services, ADT Security, American Express, Flamingo Las Vegas, Mesa Air Conditioning, Nevada Power Company, Screen Actors Guild, The Westin and Wells Fargo Bank.
Whoever has been handling her money needs to be shot, how the hell can someone get into so much debt in the space of 12 years? It’s too easy to make a joke about unbreaking her bank account instead of her heart.
source: Toni Braxton — Bankrupt Again, May Owe $50 Mil [TMZ]
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If you want a piece of ‘The Real Housewives of New Jersey,’ you’re in luck!
Teresa Giudice and her husband, who had filed for bankruptcy last October, are planning to sell their personal belongings in a public auction August 22.
According to bankruptcy court records, the pair have nearly $11 million in various debts, the New York Post reported. In papers filed in Newark Federal Court, the Guidices claim to only make $79,000 a year between the two of them, and are unable to handle the foreclosures and hefty credit card bills.
“It was a different economy back then for all of us. When the economy crashed, like most families, we tightened our belts and changed our lifestyle.”
The court document lists their money woes in detail:
► The bank has moved to foreclose on their $1.8 million home in Towaco, NJ.
► Banks have taken their Jersey Shore house along with another home in Lincoln Park, NJ.
► Teresa owes $12,000 to a fertility clinic.
► They’ve defaulted on payments for their Escalade.
► Joe personally owes $5 million to former partners of real estate deals.
The auction Website lists the details about items that will be for sale, which include a grand piano, two flat-screen televisions, sofas, decorative fireplace accessories, a Foosball table, a suit of armor and at least three chandeliers. Those items will be going up at auction on Aug. 22 at 12 p.m. at their Towaco, N.J., mansion.
The trustee, John Sywilok, has accused the pair of undervaluing items listed as personal property exempt from the bankruptcy filing, including a pool table ($1000) and even their wedding bands ($400).
On ‘Housewives,’ Giudice once spent $2,000 in a 10-minute shopping spree, but in bankruptcy papers she claims to spend $400 on clothes a month. The court papers list Joe’s monthly income at the stucco and stone company he owes at $3,250. Teresa earns $3,333 from Bravo, and she recently released a cook book, ‘Skinny Italian.’
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The New York Times has to repay $400 million in debt in the first half of 2009. It plans to mortgage its headquarters, but what that will bring in an uncertain real estate market is unknown.
The firm’s ‘Boston Globe’ and regional newspaper operations lose money, so they will be hard to sell.
Another big media operation, perhaps News Corp which owns ‘The Wall Street Journal’ and ‘The New York Post,’ will come in and auction off what it can and keep the flagship ‘New York Times’ newspaper and NYTimes.com website.
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