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Katie Price reveals losing £2m mansion, facing £750k debt, and new start after bankruptcy hell

BBG News

Katie Price has shared that the past six years have been a living nightmare, speaking frankly about the struggles she’s faced due to financial hardship.

Last year, the ex-fashion model, now 46 years old, found herself in a state of distress following the unexpected arrival of an unpaid tax bill worth approximately £750,000.

At some stage, Katie found herself in such financial trouble that she was compelled to sell her £2 million Sussex property, known as the ‘Mucky Mansion’, for significantly less than its original value.

However, in March, a significant burden was removed from her shoulders as she was released from a large tax debt.

Katie recently shared her battles, acknowledging that she’s learned from her mistakes during an episode of The Katie Price Show.

‘I’m not bankrupt anymore! I’m out of it, I’m out of both of them,’ she cried. 

Over the past six years, life has been incredibly challenging, both mentally and personally, feeling like a living hell. I’ve dedicated myself tirelessly to address and resolve the issues that brought about this turmoil, and fortunately, I’ve managed to move beyond it.

‘It’s such a nice feeling not to be bankrupt anymore. I’m in control of everything now. 

I found out that when those who are supposed to help fail to do so, it leaves you in a difficult situation.

Now, I understand what happened, and I’m grateful for the experience. Coming out on the other side feels wonderful, and reaching this point is truly an accomplishment.

In the year 2014, Katie acquired an expansive nine-bedroom house, which was previously owned by Lord Francis Maude, a former Conservative nobleman. Interestingly, this property appeared on Channel Four while undergoing restoration work.

But Katie’s eviction last May came after the-mother-of-five was unable to pay the mortgage. 

She now lives in a smaller four bed property in Sussex. 

In her current podcast, Katie shared that she had recently revisited her old haunts to take her horse for a ride.

She remarked, “This seems unbelievable since my house has undoubtedly been sold. Yet, I found myself galloping the horse across my former pastures.

‘It was really weird, just walking around thinking – this used to be my field. 

‘In the end, there was so much wrong with that house I was actually glad to get rid of it’. 

Chris Keane, a legal representative for Katie, from the law firm Fieldfisher LLP, clarified that due to lacking expertise in insolvency matters, Katie was unaware of the details involved in the bankruptcy process.

Over a period of two years leading up to 2022, this model amassed various debts such as income taxes, VAT, penalties, and accrued interest that were due from self-assessment filings.

In my professional opinion, I made sure to follow all legal counsel meticulously, and as a result, I found myself in full compliance with the necessary regulations. Ultimately, I was released without further issue.

After leaving the hospital, it appears that the model’s fortunes are improving significantly. One of her friends shared with The Sun that she is now earning approximately £50,000 per month following a campaign with Diesel, securing a significant film role, and inking a profitable deal with OnlyFans.

Her friend mentioned that she boasts approximately 2.7 million followers on Instagram, which allows her to command substantial fees for sponsored posts and stories. Furthermore, it was revealed that she is considering launching an underwear line and a fragrance collection.

Katie works tirelessly and is committed to rebuilding her wealth and joining the ranks of the wealthy elite, mingling with billionaires, company leaders, and famous athletes.

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2025-05-05 21:02

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