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Real Housewife Teresa Guidice's Real Bankruptcy Court Drama

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Jul. 21 2010, Updated 10:14 a.m. ET

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The Real Housewives of New Jersey's Teresa Giudice and her husband Joe's bankruptcy court drama is getting more and more real. 

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According to the Wall Street Journal's Bankruptcy Beat, court documents show Teresa and her husband are now facing a lawsuit to prevent them from using the debt discharge available under the Bankruptcy Code.

Chapter 7 trustee John Sywilok is in charge of collecting the couple's assets and distributing the proceeds to creditors.

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According to Sywilok, the Giudices have been making false statements under oath about their assets, income and expenses and have allegedly hid documents about their finances and business transaction.

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Teresa's Skinny Italian cookbook and TG Fabulicious clothing and accessories company are allegedly included in the assets which were concealed.

We've seen Teresa and her husband build their Towaco, N.J. mansion on the show and even throw an extravagant housewarming party, but that all might be coming to an end.

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On and off the show, Teresa has denied that her home was up for sale or being foreclosed upon.

However, Sywilok is trying to hold a public auction next month of the contents of the Giudice's home.

Hopefully Teresa will continue to keep her chin up!

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