Jacqueline and her husband Chris Laurita have been on the Real Housewives of New Jersey, on and off, for years. Chris Laurita always seems to be the voice of reason when it comes to any situation in general. He also is the bread-winner in the family. However, his business ventures over the years have taken a bit of a hit, though he has found success in areas such as his brand Blk Water. Unfortunately, at the beginning of this season of RHONJ, he and Jacqueline revealed that this could be the last year they spend in such a large home as their finances may no longer allow it. One thing that Chris told a fellow cast member on the show about his wife is that their financial situation doesn’t appear to bother her. Chris says he loves that his wife is not concerned with cutting back on material things or having to sell some of their belongings. The couple truly has a special bond. So, what is the couple working with when it comes to their current net worth? According to Celebrity Net Worth, the couple has an estimated wealth of $500,000. For more information on the couple’s financial status, their earnings and more, read on for the facts.
1. The Couple Filed For Bankruptcy
Chris Laurita’s apparel company, Signature Apparel LLC, included brands like Rocawear under its umbrella. Unfortunately, it filed Chapter 7 bankruptcy as well as a Chapter 11 bankruptcy in 2009. Then the business went completely belly-up in 2010. Not only was business a factor in the couple’s financial hardship, but their autistic son Nicholas’ treatments were costly as well.
2. There Have Been Issues Surrounding Their Bankruptcy Filing
Filing for bankruptcy is difficult as it is, but apparently suspicions were raised when the Lauritas declared bankruptcy for Signature Apparel. There were reports that “the Lauritas may have intentionally defrauded creditors and that the Lauritas possibly spent company proceeds for their own benefit,” as stated by NJ.com. The courts reportedly want the couple to repay $7.8 million dollars to creditors, but the Lauritas contested this ruling. Reality Tea reveals that the case was later settled, with the Lauritas and a few of Chris’ siblings agreeing to pay the sum of $1 million.
3. Jacqueline Is Reported to Have Saved Their House From Foreclosure
NJ.com reports that the Laurita’s home was put on the market in 2014 for $2.85 million (later dropped to $2.78 million) and then went into foreclosure as the couple was unable to make their monthly payments of $10,846.
Fortunately for the couple, the foreclosure on their Franklin Lakes home was later dismissed. Jacqueline Laurita explained the goings on to FOX CT as this:
My house is NOT in foreclosure. There is no threat of losing it. We simply modified our mortgage which is a process. Our mortgage modification has been approved and all is good.
4. The Couple Has Been Sued, Stemming From a RHONJ Episode
John Karagiorgis and his wife Penny Drossos were previously featured on RHONJ and were involved in a physical altercation on the show. NJ.com reports that Jacqueline Laurita used her stiletto as a weapon. Fortunately, there were no criminal charges and the case was settled.
This past June 2016, Karagiorgis died of a heart attack. Upon his death, his wife Penny Drossos posted this message on Facebook:
My heart is broken my world is shattered. John Karagiorgis had a massive heart attack yesterday evening and has left us. Thank you all for your texts messages and support but please understand I’m still in shock n denial that this has happen. Please understand I need sometime to grieve with my kids at this time.
5. Tax Evasion Allegations Were Also Made Against the Couple
Chris Laurita has dabbled in apparel as well as food products and now he has a line of popcorn called The Little Kernel. Jacqueline Laurita has said that she and her husband are good people and always try to do the right thing. And, when it comes to reports of tax evasion, she told FOX CT:
My husband and I have ALWAYS filed and paid our taxes every year. We have NEVER evaded taxes. The $340k was from a tax audit in 2006 in which about 1/2 of that was added interest. We have been disputing this because we didn’t think it was fair to pay so much interest on something that we didn’t even know we owed until recently. The IRS is currently working with us to lower the amount owed and once that new amount is decided we will, of course, pay the amount.