Checkaco Consumer News: the mystery of why bankrupts like Katie Price can continue to live a life of luxury jetting off on holiday and having expensive cosmetic surgery when broke

Checkaco Consumer News: the mystery of why bankrupts like Katie Price can continue to live a life of luxury jetting off on holiday and having expensive cosmetic surgery when broke

By Rupert Bridgwater: Katrina Amy Alexandra Price – or Katie Price as she prefers having dropped her former alias of Jordan – was declared bankrupt this month at London’s Rolls Building, Insolvency and Companies Court by Judge Sebastian Prentis over £750,000 unpaid tax. It’s the second time she has been declared officially skint having been declared bankrupt in 2019 over a string of debts. Adding to her woes she has lost her driving licence after a motoring offence when she was stopped by police when driving without a licence or insurance leading to more penalty points and a £972 fine.

So you may ask how does she manage not to be in prison or reduced to living in a caravan or a tent since she owes creditors £3.2 million pound and the taxman the best part of one million pounds? It certainly doesn't add up when you consider she took several foreign holidays last year and spent tens of thousands of pounds on cosmetic surgery, several thousand a month on rent for a large, detached house with grounds plus paying lawyers to keep her afloat.

The answer is simple: she works. Many bankrupts give up once their home is repossessed, their business empire liquidated, and their relationships ruined by the stress. But not Ms Price. Her income is best summed up in her fly-on the-wall documentaries My Crazy Life – previously her product as a business was her body as a glamour model. Then came the products associated with her body – lingerie, clothing lines and perfume etc, plus celebrity appearances as a model and endorsements – even an equestrian range. There were her appearances on TV shows like I’m A Celebrity Get Me Out Of Here, her marriages and love life and representing the UK in the Eurovision Song Contest all helped to consolidate her brand. Now her product is her crazy lifestyle – in fact the crazier it appears the more headlines she gains and more free publicity. The public’s appetite for her videos, interviews and exposes is undiminished even if mainstream media is no longer open to her. She still can command hefty fees and extract lucrative deals despite her decline as a celebrity – but enough to keep her in the lifestyle she expects – along with her podcast, make-up classes and night club appearances.

The long list of creditors of her collapsed business ventures such as The House of KP are not so enamoured with her crazy lifestyle as they are owed millions – but have little clout in getting their invoices paid from the past. One person who does have the clout and who has brought her to court again is the taxman. HMRC will continue to pursue her as long as she has tangible assets like property, cars and anything of value that she owns.

The inland revenue are owed £761,994.05 and they won’t be fobbed off forever – despite all her delaying tactics. As Benjamin Franklin once said only two things are certain in life – death and taxes – and at the age of 45 Katrina Amy Alexandra Price is no longer the page three model that made her famous.


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