Katie Price given bankruptcy warning as she’s ‘already set to make millions’ again
Good news has finally come her way.
Katie Price has declared that she’s already on her way to ‘making millions again’ – but a financial expert has warned she still needs to be careful in the future.
The media personality and former glamour model, 46, had owed more than £750,000 to HMRC in unpaid tax debts and was arrested in 2024 after skipping a bankruptcy hearing.
After a hearing earlier this year, Katie’s first bankruptcy – from 2019 – was discharged after a hearing at the Insolvency and Companies Court.
But after being given the same good news about her second bankruptcy, which had seen her owe more than three quarters of a million pounds, she’s been warned to be careful.
Ellie Macsymons from NetVoucherCodes told Metro that, while the bankruptcies have been discharged, Katie may need to keep paying other debts.
‘[It’ll be the last thing] on her mind after receiving such positive news, but making sure that other debts are still being cleared will keep away further risks that may then escalate into a second bankruptcy.’
‘Thank you to everyone that has supported me through this process’ (Picture: David Fisher/Shutterstock)Ellie added that the Celebrity Big Brother star will still need to review her spending as well and that cutting down on subscriptions, lavish holidays, and finding cheaper insurance quotes could also help.
‘No matter the millions she plans to make, Katie should still consider minimal savings opportunities,’ adding: ‘She should create a budget and stick as a critical step after bankruptcy.’
A representative of Katie’s confirmed the good news to PA earlier this week, and the I’m A Celebrity star gave a statement of her own.
She told The Sun: ‘I’m so happy. I can finally move on and put these bankruptcies behind me and now only focus on the positive. Thank you to everyone that has supported me through this process.’
Days after receiving the good news, Katie has now taken to Instagram to give an updated statement, revealing some of her optimistic future plans.
Katie marked the end of her bankruptcy with an Instagram statement (Picture: Instagram)She posted to her story, saying: ‘I’m so happy I’m not in any bankruptcies anymore. I communicated, [I’ve] done what was required, paid what I needed to pay, and now I’m already back on the path of making millions again.
‘Thank you for everyone’s support during my breakdown years and for people going through what I did – keep going.’
Katie’s solicitor, Chris Keane, told The Sun that the TV star had been ‘fully compliant with her Trustee in Bankruptcy’ and that she had been ‘discharged from both bankruptcies in short order’.
Katie was first declared bankrupt in November 2019 (Picture: Ken McKay/ITV/Shutterstock)She was first declared bankrupt six years ago and, at the time, was ordered to pay 40% of her monthly OnlyFans income until at least February 2027 at the earliest.
When the star was first declared bankrupt in 2019, she was supposed to pay £12,000 in debt every month for four years to her creditors after taking out an individual voluntary arrangement (IVA).
The court had also heard that if Katie’s second bankruptcy remained in place, she must also pay OnlyFans money to that trustee as well.
Speaking on behalf of the trustee whom Katie was repaying, barrister Darragh Connell said that an application may be submitted to suspend the discharge for a period in the future.
He remarked: ‘It may well transpire to be the case that an application is made to suspend discharge for a limited period, but that is not before the court today.’
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Previous Page Next PageThe mum-of-five faced criticism last year when it was revealed that she’d had a sixth facelift in Turkey costing £10,000 despite her ongoing financial woes.
However, she defended herself at the time in a statement that read: ‘I have to continue in my work in order to satisfy these bankruptcy orders which is all I am trying to do right now.
‘I am however not running from matters and will continue to take matters with great seriousness. I am doing the best I can to rectify things during extremely challenging times.’
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