She's the most explosive and most extravagant of The Real Housewives of New Jersey.

On the show she spends with abandon on designer clothes for her kids and plush furniture for her stunning mansion.

But there's shocking news...Teresa Giudice is bankrupt!

In reality, Guidice and her husband Joe, who runs a construction company, are almost $11 million in debt!

Bankruptcy documents obtained by INSIDE EDITION show the couple's $2 million mansion is in foreclosure and they have zero cash in the bank.

They also owe such upscale department stores as Neiman Marcus, Nordstrom, and Bloomingdales a total of almost $20,000.

"It's not something you ask for...it's not something you want to do, it's an unfortunate situation," said Giudice.

INSIDE EDITION caught up with her at a fundraiser for Project Ladybug, a cancer charity founded by her castmember Dina Manzo.

"We're trying to work through it," she said.