'Housewife' Teresa Giudice: Bankruptcy A 'Fresh Start'

08/08/2010 05:12 am ET | Updated May 25, 2011

The Real Housewives of New Jersey star Teresa Giudice is breaking her silence after it was discovered that she and her husband Joe filed for bankruptcy.

"While this is a personal matter, I realize that certain aspects of my private life will always be subject to scrutiny and distortion," Giudice says in an exclusive statement to PEOPLE. "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.'"

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