Katie Price is finally turning the page on a difficult chapter in her life as she has been officially discharged from her second bankruptcy.
The 46-year-old model, who has faced years of financial instability, can now breathe a sigh of relief.
She expressed her gratitude to her supporters, telling The Sun, “I can finally move on and put these bankruptcies behind me and now only focus on the positive.”
The Tax Debt That Led to Bankruptcy
Price’s financial troubles escalated when a massive £750,000 unpaid tax bill landed her in serious debt.
This amount covered income tax, VAT, surcharges, and interest, which accumulated from self-assessments up until 2022.
Her first bankruptcy, declared in November 2019, was only officially discharged on February 11, 2025, after a prolonged process.
Unfortunately, just a month later, she was declared bankrupt for a second time in March 2024, prolonging her financial struggles.
Selling the ‘Mucky Mansion’ to Stay Afloat
One of the most significant losses in Price’s financial downfall was her famous home, the ‘Mucky Mansion.’
She initially bought the nine-bedroom property in 2014 from former Tory peer Francis Maude, and it even became the focus of a Channel 4 renovation series.
However, after falling behind on mortgage payments, she faced eviction in May 2023.
The mansion, once valued at £2 million, was put on the market for £1.5 million but was ultimately sold for a significantly lower price of £1.15 million.
Due to her outstanding debts, Price did not receive any money from the sale.
She has since relocated to a new four-bedroom home in Sussex.
Court Proceedings and Legal Battles
The legal side of Price’s financial troubles has been just as complicated.
While bankruptcy orders in England and Wales typically last for a year, her first bankruptcy discharge was delayed.
It was only lifted on February 11, 2025, when Insolvency and Companies Court Judge Sebastian Prentis ruled that the public examination regarding the first bankruptcy could be formally concluded.
Price had been required to attend a public examination regarding her finances in August 2023 but failed to appear, leading to a warrant being issued for her arrest in July.
Eventually, she attended a private financial interview in September, which provided enough information to avoid a public hearing on her first bankruptcy.
However, a public examination related to her second bankruptcy has been postponed until April 8, 2025.
Financial Obligations and Future Plans
Under the terms of her first bankruptcy, Price was required to contribute 40% of her monthly income from her OnlyFans account until February 2027 to help pay off her debts.
With her second bankruptcy still in effect, she must continue making payments to the trustee while financial inquiries remain ongoing.
Her barrister, Darragh Connell, noted that investigations with third parties are still underway and hinted that there could be an application to suspend discharge for a limited period, though no such request has been filed yet.
What’s Next for Katie Price?
Despite the financial setbacks, insiders believe that Price is determined to rebuild her fortune.
A close source shared that, while the star has been through “hell,” she is now focused on resetting and remaking her lost millions.
With the weight of bankruptcy slowly lifting, she has an opportunity to make a fresh start and regain financial stability.
While she still faces ongoing financial obligations and legal proceedings, this discharge marks a turning point.
Fans will be watching to see how she navigates this new phase in her life and whether she can truly leave her financial struggles behind.