Katie Price faces going bankrupt before Christmas as she fails to pay back spiralling debts
KATIE Price is facing going bankrupt before Christmas as she has failed to pay back spiralling debts.
The 41-year-old was supposed to be paying off £12,000 a month to her creditors after taking out an individual voluntary arrangement (IVA) 12 months ago – but has failed to do so.
Last month a bankruptcy charge was laid on her mucky mansion and today Judge Sally Barber ordered her to be served with a draft petition notice within seven days.
According to the Mirror, she will have to return to the Insolvency and Companies Court next month on November 27 to learn whether she will be made bankrupt.
Judge Barber said: "Technically it’s not an adjournment so I'm extending time.
"Service will be effective on the expiry of seven days of completion of such sending of the email and such posting.
"Once you've done both, service will be effective on the expiry of seven days.
"I also extend the time for hearing the bankruptcy petition - I think six weeks."
A lawyer from JMW Solicitors said Katie had failed to attend an appointment with her creditors.
Last year Katie was allowed to enter into the IVA, a deal to pay back some of her debts, if she agreed to pay back over £12,000 a month over the course of four years.
The Sun reported back in March that Katie still owed more than £800,000,.
Despite her money issues Katie has continued to live the high life after narrowly avoiding bankruptcy last year.
She has been on a series of luxurious holidays, had a full body overhaul with surgery, started renovations on her mansion and even splashed £45,000 on a new car.
Last week Katie was banned from driving for two years - after refusing to tell cops who was behind the wheel when her pink Range Rover crashed last year.
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She failed to appear at the Bexley Magistrates Court sentencing and was slapped with six penalty points and the ban.
She previously pleaded guilty to failing to tell police who was driving her £130,000 car, in the smash in October 2018, in Bexley.
The glamour model already had six points on her licence for previous offences.
Sentencing her, the judge also gave Price a £440 fine, £100 costs and a £44 surcharge.
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