Katie Price is officially free from bankruptcy—again—and she’s vowing to make a fresh start with her finances. The former glamour model has faced six years of money troubles, but now she’s celebrating putting it all behind her and focusing on the future.
On Tuesday, Katie announced she had been discharged from her second bankruptcy, which stemmed from a hefty tax debt of over £750,000. In a statement, she shared her relief, saying: “I’m so happy. I can finally move on and leave these bankruptcies behind me, focusing only on the positive. Thank you to everyone who supported me throughout this process”, reported the Mirror.
A friend close to the star said she’s now “free to reset and rebuild,” after being officially discharged from her first bankruptcy on February 11 this year. It’s been a long road for the TV personality, who once had an estimated fortune of £100 million but found herself in serious financial trouble due to unpaid income tax, VAT, and other debts.
A source speaking to The Sun said: “She’s been through a lot, and this feels like a massive weight has been lifted off her shoulders. It’s been hanging over her like a cloud, but now she’s free to reset and rebuild. If anyone can make her millions back, it’s Katie.”
It hasn’t been an easy journey, though. Alongside the two bankruptcies, Katie was ordered to pay 40% of her monthly income from OnlyFans until 2027. She also faced an arrest warrant after failing to attend a court date related to her finances but has since taken steps to comply with bankruptcy regulations.
Her lawyer, Chris Keane of Fieldfisher LLP, explained how things turned around: “Initially, Katie didn’t fully grasp the bankruptcy process or the implications of missing meetings with the Trustee. However, since working with expert insolvency lawyers, she’s been fully compliant and has been discharged from both bankruptcies.”
Last month, she faced a crucial court hearing to finalise her finances. Her first bankruptcy, declared back in 2019, was originally meant to be discharged after a year, but the suspension of the automatic discharge meant she was still bound by its restrictions. That suspension was finally lifted this week by Insolvency and Companies Court Judge Sebastian Prentis, who backdated the discharge to December 7 last year.
Katie is now ready to move forward without financial restrictions hanging over her. Her trustee’s barrister, Darragh Connell, confirmed in court that “The public examination of the first bankruptcy can be formally concluded in open court.”
For Katie, this marks a major turning point. After years of financial setbacks, she’s determined to rebuild her fortune and leave her past money troubles behind. And knowing Katie Price, she’s not planning to do things quietly.
