Joe and Teresa Giudice will get a clean slate from the bankruptcy judge -- they paid $7,500 to creditors and in the process they'll erase more than $13 MILLION in debts!!!
The docs -- obtained by TMZ -- are shocking. Joe and Teresa lived their lives through smoke and mirrors, having almost no equity in any of their lavish trappings of wealth.
They have a $1.7 million house with only $140K in equity. There are 2 other properties where they have NO equity.
They have a Maserati, an Escalade, a Ford 350 and have NO equity in them. They also have toys -- a Sea-Doo boat, a Kawasaki quad, 2 go carts and other stuff -- no equity.
As for their creditors who will walk away with nothing ... they include 5 banks, all of which loaned the couple more than a million bucks. Wachovia Bank got shafted to the tune of $5.3 MIL.
As we previously reported ... the Giudices are about to get prison time for bank fraud.
BTW ... one really weird thing. The Giudices valued their dogs at $600. The bankruptcy trustee begged to differ, saying the dogs were worthless.
Joe and Teresa Giudice
New Docs Reveal
Lavish Deadbeat Lifestyle
4/9/2014 1:00 AM PDT BY TMZ STAFF
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