Boobs, Bust-Ups And Bankruptcy: Is It All Over For Katie Price?

Dramas with various men continued, with one recent boyfriend, Charles Drury, even publishing various sordid claims about their fling in a tabloid kiss-and-tell. 

Katie has also worried fans by undergoing a series of dramatic surgical procedures, including her third facelift, a Brazilian bum lift and liposuction, as well as having her own fat injected around her eyes, drastically altering her appearance. 

As these events in her personal life unfolded, Katie’s finances had been taking a battering. In December last year she had entered into an individual voluntary agreement (IVA), after agreeing a plan that was supposed to see her pay back creditors in monthly £12,000 instalments. But, at a court hearing in London on 26 November, a judge declared her bankrupt.

How did it come to this?

In the wake of Katie’s bankruptcy, many figures have been thrown around in the media about her expenditure in an attempt to establish how someone worth a reported £40m ended up broke. However, few of those numbers have been substantiated. 

“The problem with Katie Price or anyone like that is that they are used to spending at a certain level, and that’s what gets them into problems,” says Sam Jennings, financial advisor to reality stars and founder of Jennings Co. 

“They can earn a lot of money and they also want to keep up with the people that are around them. Have you ever seen a celebrity driving around in a Ford Focus? They just don’t. They’ll be in a Range Rover, but it doesn’t always mean they can afford that Range Rover.”

Sam continues: “In her prime, Katie was the biggest thing out there, but as the sponsorship deals, magazine deals and TV appearances dried up, she became less and less valued in the public’s eyes and got paid less and less money. That’s fine if you’re spending less and less money, but if you continue to spend at a very high rate, then it is all going to go.”