Giuliani Says He Took Online Credit Counseling Course Before Filing For Bankruptcy Protection

Rudy Giuliani says that he took an "online credit counseling" course before he filed for bankruptcy this past week (after a judge told him he has to immediately pay the $146 million verdict against him.) The course that Giuliani took only cost a few dollars, so he may not have been getting the most sound legal and financial advice, but that didn't stop him from admitting the sad reality of his financial situation. Farron Cousins explains what happened.

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*This transcript was auto-generated. Please excuse any typos.

At the end of this past week, Rudy Giuliani, uh, had to file for bankruptcy because according to his filing, he has $500 million in debt and $146 million of that debt, of course, is the judgment against him from the previous week. That said, he does have to pay Ruby Freeman and Shay Moss, $146 million for the defamation. And a judge ruled this week before Giuliani filed for bankruptcy that I'm not gonna give you the 30 day window to not pay. I'm gonna order you to pay right now. Well, when the judge did that, Rudy Giuliani got online and for the low, low cost of probably $24, so that's how much they charge. He took an online credit counseling course quiz, I don't know. And, uh, determined from the results of that online credit counseling again for 24 bucks. Pretty good deal. They said, yeah, you should file for bankruptcies.

So Rudy Giuliani did, and he put that in his filing because you are required to do the credit counseling. And this is, it's legit, okay? He didn't, you know, he went to a real company that does this and they're legally required to do it. And he is like, Hey, I paid these guys 24 bucks and, they, they said, I'm bankrupt. So I'm filing for bankruptcy here. Now I don't wanna knock the company at all. But if you're $500 million in debt and you are ordered to do online credit counseling, maybe go somewhere that honestly is a little bit higher price tag. Okay? You are a millionaire. You've got 10 million in assets or cash assets. We know that you own a couple million dollars worth of properties. You do have a little bit of spending money right now, Rudy. So you could have afforded to actually not even do online credit counseling.

You could have gone to a certified public accountant. You know, you probably have your own accountants. They could have given you this credit counseling that you have to have to file for bankruptcy. They're the people who handle your money. Like I refuse to believe that Rudy Giuliani does not have an accountant. I mean, I have an accountant, and I do not have millions of dollars. I don't have a million dollars. But why would you go and be like, Nope, I'm gonna do this thing online real quick, $24. Okay, answer a couple questions. Yep. Y yep. Oh, I'm bankrupt. Well, let me take this quiz to see what kind of garlic bread I am now. Like that's kind of what it's, and that's what Rudy Giuliani is telling the court, like, Hey, I gave him 24 bucks. They said, I got no money. Now, now filing for bankruptcy is not going to get

Rudy Giuliani out of trouble. Uh, it could however hinder the future lawsuits against him. Obviously he has the, uh, uh, lawsuit, the harassment lawsuit from his former employee. He has the Dominion lawsuit, the smart mad lawsuit. But because the verdict already came in and he was already ordered to immediately pay the defamation for Ruby Freeman and Shay Moss, what Giuliani has right now is gonna go to them. So it may be difficult for the employee, uh, dominion and Smart Matt to get anything from Rudy Giuliani, but Ruby Freeman and Shay Moss are still gonna get something. They're not gonna get $146 million. They could end up with all of Rudy Giuliani's property for sure, and all of his cash assets, leaving him, I mean, penniless and possibly even homeless. But they may be the only ones who get any kind of recovery from Rudy Giuliani because of this bankruptcy decision. So I do think he's bankrupt, but I also think, uh, you probably could have paid a, a certified public accountant, probably the one you're already using for your finances. 'cause I don't think you're do in your own taxes, bud. But 24 bucks a deal's a deal, and I guess when you're bankrupt, you gotta go bargain shopping. And that's exactly what Rudy did.