June 08, 2010 at 03:00 PM EDT

Real Housewives of New Jersey star Teresa Giudice and husband Joe have filed for bankruptcy, People and TopTenReviews.com reports. “While this is a personal matter, I realize that certain aspects of my private life will always be subject to scrutiny and distortion,” Giudice told People in a statement. “What is true is that due to the economy, most of my husband’s real estate ventures failed despite his hard work and effort. As a result, we looked to the Bankruptcy Court for a ‘fresh start.'” The couple filed for Chapter 7 bankruptcy last October.

 

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