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Katie Price staves off bankruptcy for another month

Katie Price has staved off bankrupcy for another month – but could be made homeless at a court hearing in December.

The former glamour model – who was once worth an estimated £45million – narrowly avoided being declared bankrupt in August, when she was given 12 weeks to come up with the money she owes to creditors.

Her lawyers came back to London’s High Court today for a fresh hearing over how she will clear up a £22,000 debt with the taxman. 

Estimates over the Loose Women panellist’s total debts have ranged from £250,000 to £500,000. 

Former glamour model Katie Price has avoided bankruptcy at a High Court hearing today. Her lawyers will hold a meeting with HMRC before another hearing in December

The star fears she may be forced to sell her Sussex mansion if she is declared bankrupt

The star fears she may be forced to sell her Sussex mansion if she is declared bankrupt

The case was again put off today, with her legal team saying she has a meeting planned with tax officials for November 16.

It is thought she will attempt to be enter into an individual voluntary arrangement (IVA), a formal alternative for indebted people wishing to avoid bankruptcy. 

Miss Price, 40, fears she could be forced to sell her West Sussex mansion if a trustee is brought in to sell off her possessions.

She is unlikely to be made homeless before Christmas due to rules allowing people living with children to appeal for a 12-month delay to losing their home.

In recent months there have been reports that the former model, a keen horsewoman, had been trying to sell off her pink horsebox and a number of her animals.

Her £2million mansion, which is a former home of ex-Cabinet Office minister Francis Maude, boasts nine bedrooms, a two bedroom annexe, 12 acres of land, a swimming pool, a tennis court and stables.

Katie Price's pink Range Rover was seen being towed away earlier this summer due to suspected mechanical problems. She is under investigation for alleged drink driving

Katie Price’s pink Range Rover was seen being towed away earlier this summer due to suspected mechanical problems. She is under investigation for alleged drink driving

Price - under the name of Jordan (pictured in 2002) - made her name as a glamour model.

It is now feared she will have to sell her pink horse box

Price – under the name of Jordan (pictured in 2002) – made her name as a glamour model. It is now feared she will have to sell her pink horse box

Official documents reveal Miss Price bought the property for £1.35 million in October 2014.

But it has since fallen into a state of disrepair, with the grounds strewn with rubbish and the swimming pool full of dirty water.

To make matters worse for the TV star, she is currently under investigation for alleged drink driving after she was arrested at a roadside in Woolwich, south-east London earlier this month. 

Read more at DailyMail.co.uk


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