KATIE Price has told friends she could be homeless by Christmas after she was declared bankrupt today after failing 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.
She was once worth an estimated £45 million but now Katie faces losing her £2 million "mucky mansion" in West Sussex.
"Katie has no idea what’s going on – it’s fair to say she’s not very good with her finances – but she’s telling people she’s ‘no bothered’ she’s gone bankrupt," a source exclusively told The Sun Online.
"She even said to friends that she might be homeless by Christmas, but there’s nothing she can do about it now.
"She's looking for somewhere to rent nearby."
Katie could also have her assets taken and sold by an appointed trustee to pay her debts.
Our source added: "She says bankruptcy's like ‘wiping the slate clean’ and was joking that she’s saved herself ‘millions’ by gone broke and at least people won’t be bothering her for money now everyone knows she’s got none."
Despite Katie's best efforts to overhaul the mansion in recent months, the mum-of-five finally accepted defeat by packing up her belongings last week.
Last month, The Sun Online revealed the star and her family had been forced to live in the annexe while the builders had moved in.
The dilapidated property is now thought to be totally empty while Katie shacks up with her boyfriend Kris Boyson.
Katie's PR has been approached for comment.
Source: Read Full Article
