Katie Price has been declared bankrupt.
The 41-year-old star was made bankrupt during a hearing at the Insolvency and Companies Court in London on Tuesday (26.11.19) after failing to pay back the agreed £12,000 a month to her creditors.
Back in December, Katie was given an individual voluntary arrangement (IVA) to pay back what she owed – believed to be around £800,000 – in instalments every month until the whole debt was cleared.
Katie or a representative for her was not present at the hearing and was declared bankrupt at 12.25pm on Tuesday (26.11.19).
Katie has had a difficult time of it lately, after she was banned from driving for two years last month.
She was slapped with six penalty points, a hefty fine and the 24-month ban at Bexley Magistrates Court in Bexleyheath on Thursday (10.10.19) after she refused to tell police who was behind the wheel of her bright pink Range Rover, worth £130,000, when it crashed in October last year.
The reality TV star’s lawyer had asked the court to adjourn the case today as she was out of the country, but District Judge Robert Hunter refused the request.
He said: "This hearing has already been adjourned once. This date was agreed by both sides. I am not inclined to further adjourn this matter."
Katie – who already had six points on her licence before the crash last year – was ordered to pay a £440 fine, a £44 surcharge and £100 in costs.
The ‘My Crazy Life’ star claimed back at the hearing in August that she was trying to get "back on her feet" following a turbulent few months with her mental health.
In a statement read in her absence by District Judge Robert Hunter, she said: "Back in October my mental health was seriously affected. I sought help from a rehab centre for PTSD. During this time I wasn’t in control of my work, property or mail or in general. I am now in a clearer mindset and tackling my issues and getting back on my feet. I wasn’t driving at the time. I plead guilty."
Katie Price declared bankrupt
