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Daily Mirror
Daily Mirror
Entertainment
Harry Thompson

Katie Price's ruined wealth after bankruptcy as she sinks into millions of pounds of debt

In December 2019 Katie Price, formerly known as Jordan, declared bankruptcy a year after agreeing to pay £12,000 a month to creditors to dig herself out of debt.

She agreed to setting up an individual voluntary arrangement, or IVA, in an attempt to take control of her finances and swerve bankruptcy - but one year on it became clear the plan hadn't worked after she failed to make her monthly payments.

In January 2022, the former glamour model narrowly avoided another embarrassing court appearance by paying off £7,350 worth of fines dating back to January 2019.

Her solicitor Joe Harrington said Katie's finances were "disorganised and chaotic", to the extent that an unpaid £7.50 Dart Crossing toll spiralled into a £1,400 debt because she didn't deal with it in time.

She is already serving a 16-week suspended jail sentence for flipping her BMW while drunk behind the wheel - she only dodged prison time then by attending rehab.

Katie Price's finances have been rather up and down over the years (@katieprice)

She now owes an eye-watering £3.2 million to her creditors and in 2021 was slapped with a repossession order for her £1.35million money pit Mucky Mansion after racking up over £500,000 in debts.

But it wasn't always like this for the Pricey, who at one point was worth over £45million. Now her net worth is thought to be less than £1million despite a court hearing in 2019 that she enjoyed a monthly income of £45,000.

As she attempts to launch yet another a comeback through her TV show Katie Price's Mucky Mansion and her raunchy new OnlyFans page, the Mirror takes a look at what pulled her down from making big bank to bankruptcy.

Loss of big TV and big earners

Price started modelling from a young age (Getty Images)
She worked as a glamour model and Page Three girl (Getty Images)

Some of Price's most lucrative TV deals that earned her serious cash have fallen away over the years, while the Mirror reported that Price's modelling opportunities came to an end in 2018. She told the insolvency court at the time that she'd "lost everything".

Price earned a reported £400,000 for her part on Celebrity Big Brother, according to Digital Spy, but work like this and I'm A Celebrity have also since dried up.

While on I'm A Celeb, Katie met her future husband Peter Andre and their show together Katie And Peter was a big hit but, like the couple's relationship, came to an end.

Meanwhile, Katie Price: My Crazy Life, one of her most reliable earners, was canned after 11 years over dwindling ratings - in 2019 it was reported that Price was set to trouser a six-figure deal for the fourth series

Her range of jewellery and other beauty products no longer bring in the same income they once did. Clothing line House of KP went quiet in 2019 and she resigned from her other clothing line KP Boutique in the same year, after making just £13.

Expensive life habits

She built an infamous fleet of pink cars over the years (SWNS)

In 2019, the Sun reported that Price spends £25,000 on plastic surgery a year, £12,00 a year on hair extensions and £1,500 a fortnight on manicures. She would splurge hundreds of pounds a month on massages, makeup and age-reversing treatments.

Price also funnelled big sums into her planned farm. The Sun report she put £190,000 into equipment for the setup which she bought for her then-husband Kieran Hayler, who worked on it full time.

The paper also claimed she spend £25,000 a year on keeping her house running, racking up enormous heating bills as she kept the Mucky Mansion warm all day.

She is known for spending big on a variety of events, including £2,000 on Christmas decorations after fearing it could have been her terminally ill mum's last one.

Holidays have always been a big part of Price's brand, but have often been surrounded by questions about how she pays for them. In 2021, in the middle of her financial woes, she and her family jetted off to St Lucia to enjoy a lavish break and later that year she nipped off to Turkey again with fiance Carl Woods.

Price infamously collected a fleet of pink vehicles - her bright Landrover an iconic part of her image - but as her financial situation got worse she was forced to flog off many of her cars, as well as her menagerie of horses and llamas.

Legal and family costs

Katie is hoping her Mucky Mansion can help her rebuild her fortune (Channel 4)

In 2019, Price was ordered to pay £150,000 in legal costs to her ex-husband Alex Reid after she was accused of showing people a sex tape of him while she was filming Big Brother.

She's also racked up countless lawyers bills with her three divorces - from Peter Andre, Alex and Kieran - as well as getting herself into hot water with HMRC over unpaid tax.

Despite being warned to tighten her belt before her bankruptcy, Katie was still blowing cash on extravagant shopping sprees, expensive gifts for her children and luxurious presents for her toyboy lovers - including a brand new £70,000 Audi with personalised number plate for then-husband Kieran.

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