- Kerry Katona
Twice in 5-years, Kerry Katona declared that she was bankrupt. The singer and media personality’s case was so bad that she was dropped as the face of payday lender Cash Lady, for fears that the money would be used to fund a celebrity lifestyle.
She confessed to not knowing how to handle money, saying she bought her husband a Ferrari, a Lamborghini, an Aston Martin, a Porsche; little wonder her financial difficulties.
When you live on a £5,000 a week rented mansion in Surrey, one gets the clearer picture of the kind of spender we are talking about.
Katona was declared bankrupt on 21 August 2008, the declaration was made at the High Court in London.
According to reports, she had failed to pay the final £82,000 of a £417,000 tax bill.
She virtually lost it all, from her Iceland contract to her magazine column, and down to her MTV shows.
In December 2009, having not paid her mortgage in months, Katona got a repossession order on her £1.5 million home.
It was not shocking to many, when on the 2 of July 2013, the Tv star filed for bankruptcy again.
This time, she filed at Wigan County Court, and has been struggling ever since.