Cook the bacon until crispy, then remove and crumble. Brown the ground beef and drain the fat.

Sauté the chopped onion and minced garlic in the same pot until softened, then return the ground beef to the pot.

Pour in the beef broth and undrained diced tomatoes with green chilies, bringing the mixture to a simmer.

Stir in the softened cream cheese until it is fully melted and smoothly incorporated into the soup.

Add the shredded cheddar cheese and heavy cream, stirring continuously until the cheese is melted and the soup becomes creamy.

Season the soup with salt and black pepper according to your taste preferences.

Ladle the hot soup into bowls and garnish each serving with crumbled bacon and additional shredded cheese.