Kieran Hayler

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The Official receiver is in control of price and financial Affairs and property

Katie Price has been declared bankrupt in a hearing at the Supreme court to stay was told that they had failed to have a plan to repay your debt.

The former model and reality TV star was not present at the London.

in the Past year, price, 41, came to an agreement with your creditors for a repayment plan known as an Individual Voluntary arrangement (IVA).

But the insolvency administrator, the monitoring of your IVA, said she had failed to keep to the terms of the license agreement.

Now that she was insolvent, the insolvency administrator to take control of your finances and real estate.

price, who lives in West Sussex , found fame in the 1990s as a glamour model under the name Jordan and was once be said, to the value of More Than £40m.

The Life and times of Katie Price -price-promotion of your book Is Jordan in the year 2004

Like Jordan, she was famous for her breast augmentation surgery and was a frequent face on The Front side of the boys' magazines.

modeling is not the only string to your bow. In 2001, she stood as an MP, you free breast implants on the NHS - But this was not enough to convince the voters.

it is branched into publishing, with books such as as Jordan, and dabbled in fashion. She appeared in TV shows such as "Footballers' Wives, and played in the 2004 series of I'm A Celebrity... Get Me Out of Here!

It was show on ITV jungle that she met her future husband, pop star Peter Andre . After they split, she went on to marry Alex Reid in 2010, And Then Kieran Hayler in 2013. She and Hayler is reported, are planning a Divorce .

price for online abuse is a crime, after her son Harvey suffered "horrendous" bullying

the price of The Winner of celebrity Big Brother 2015 has been crowned, and she was praised, which began when her son Harvey was targeted for his disability.

But it was a difficult couple of years for the stars. She went into rehab Last year to combat drug and alcohol abuse, and earlier this year.

In the summer, when her ex-husband is the new partner in a school Playground and was fined £415.

in the Last month, she was one of three celebrities by the Advertising Standards Authority.

she is now on the reality show, My Crazy life, of The Quest Red channel, and has a clothing range, named after their daughters, Princess and Bunny.

What bankruptcy is?

Anyone can file for bankruptcy as an escape overwhelming debt. A liquidator takes over the responsibility for your finances and assets such as your house, and can settle with your debts.

to apply for The bankrupt person, under certain restrictions, for example, in credit of More Than £500 Without letting the lender about your bankruptcy. It usually ends after a year, after which most debts are written off and you can make a fresh start.

As well as voluntary bankruptcy, a person is made bankrupt, if they have not paid their debts.

to pay An Individual Voluntary agreement (IVA) - someone who freezes the debt and to get back to you, you over a fixed period of time - is an alternative to bankruptcy. But a route is broke, if a person has broken the terms of your IVA, such as The High Court heard that the price had made.

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katie price, high court

Source of news: bbc.com