Katie Price forced to pay £12k a MONTH to clear her £2.1m debt
Katie Price is reportedly being forced to pay back over £12,000 a month in a desperate bid to clear her debts.
Despite the 40-year-old allegedly owing £2.1m, she will only have to pay back 41% of her total debts, which is £856,358.
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And now, Companies House documents have allegedly revealed her monthly payment plan, which will see her pay back her 41% over the course of five years.
The documents claim that Katie will pay back £12,302.25 a month in the first year; £12,332.81 a month in the second year; £14,363.37 in the third; £15,296.44 in the fourth; and £16,068.36 in the fifth.
However, it was also previously alleged that prior agreements with creditors state that should Katie not keep up the payments for four years, her nine-bedroom mansion will be put on the market to pay off the remaining balance.
The files claim the agreement was struck after her company, Jordan Trading, went into liquidation.
Katie’s new agreement is said to help her avoid bankruptcy, however according to the same files the former glamour model has only managed to pay back £27.96 since February 2018.
A source also told The Sun: ‘These figures show just how much financial trouble Katie is in and what a challenge she faces to turn things around.
‘Having said that, most people will wonder how she has managed to avoid bankruptcy with an agreement which lets her get away without paying 59 per cent of what she owes.’
Despite her mountain of debt, the mum-of-five has maintained her lavish lifestyle and has just returned from a luxury trip to Thailand with boyfriend Kris Boyson.
Reports also claim she’s splashed a whopping £25,000 on six getaways in the last eight months.
Katie also revealed plans to buy herself a luxury new car, once her driving ban for being drunk in charge of a vehicle has expired.
Speaking outside Bexley Magistrates’ Court, she said at the time: ‘I chose to be disqualified for three months because it adds on to my disqualification that I’m already on, which means I get my driving licence back on the 24th of May which means I can go car shopping – let’s ban the pink car.’
CelebsNow has contacted representatives for Katie for comment.
