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Kerry Katona Is Declared Bankrupt

While the life of so called reality TV star Kerry Katona has been anything but boring, news that she has today been declared bankrupt could have a long term detrimental affect on her ability to revive her fortunes. The long running bankruptcy hearing has been adjourned four times but today was the day when the sands of time ran out and HMRC rubber stamped her bankruptcy over an unpaid tax bill.

Ms Katona is not the only star to hit money troubles of late and she will not be the last but she is being held up as an example of the buy now pay later attitude of today. Her initial outstanding tax balance was £417,000 and while she managed to get this down to a more manageable £82,000 the fact she acquired a £115,000 Lamborghini for her husband last year was maybe the final piece of the jigsaw.

A closer look at Kerry Katona's income shows that she earns £750,000 from supermarket chain Iceland and £400,000 for her column in the tabloid press. It seems that her disregard of the serious threat posed by HMRC has finally come back to haunt her but quite what will happen next remains to be seen.

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