Katie Price’s five-word statement after clearing bankruptcies despite £750k debt(Image: PA)

Katie Price has successfully closed the chapter on her second bankruptcy hearing and is now focused on rebuilding her fortune, which once soared to an estimated £100 million. After enduring a tumultuous six years of financial struggles, the 46-year-old model has been discharged from a significant tax debt of over £750,000.

Expressing her relief, Katie shared her gratitude with fans after a Zoom hearing with a judge, telling The Sun: “I’m so happy. I can finally move on and leave these bankruptcies behind me, focusing only on the positive. Thank you to everyone who supported me throughout this process.”

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Her debt, which included unpaid income tax, VAT, and other surcharges, stemmed from self-assessments for the years leading up to 2022. A source close to Katie remarked: “She’s been through a lot, and this feels like a massive weight has been lifted off her shoulders. It’s been hanging over her like a cloud, but now she’s free to reset and rebuild. If anyone can make her millions back, it’s Katie.”

Katie has been cleared of her bankruptcies (Image: PA)

Despite setbacks, including a court order to pay 40% of her monthly income from OnlyFans until 2027, Katie is now looking ahead. She also faced a warrant for arrest after missing a court date regarding her finances but has since made strides in complying with bankruptcy regulations.

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Katie’s lawyer, Chris Keane of Fieldfisher LLP, explained, “Initially, Katie didn’t fully grasp the bankruptcy process or the implications of missing meetings with the Trustee. However, since working with expert insolvency lawyers, she’s been fully compliant and has been discharged from both bankruptcies.”

Last month, Katie had one of her bankruptcy’s discharged as she faced the hearing to settle her finances. She was due to face questions over her finances at a hearing known as a public examination after first being declared bankrupt in 2019.

Bankruptcy orders typically end after a year in England and Wales, but the automatic discharge of her first bankruptcy was suspended, meaning she was still bound by its terms.

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The suspension was lifted by Insolvency and Companies Court Judge Sebastian Prentis on Tuesday, backdated to December 7 last year, meaning the bankruptcy was discharged. Barrister Darragh Connell, representing the trustee of Price’s bankruptcies, said: “The public examination of the first bankruptcy can be formally concluded in open court.”

The reality TV star has said she’s ‘so happy’(Image: Getty Images)

Katie – who was not in attendance at the hearing – was also declared bankrupt in March last year over an unpaid tax bill worth more than £750,000, which remains in force.

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A public examination concerning that bankruptcy was adjourned until April 8. She has been declared bankrupt twice despite once having an estimated fortune of £45 million thanks to her modeling career, book deals, and television appearances.

Katie previously admitted her habit of supporting ex-partners’ lavish lifestyles and legal expenses led to her first bankruptcy in 2019 over debts totalling £3.2 million.

Last summer, Katie was arrested at Heathrow Airport in front of her disabled son Harvey and taken into police custody after skipping previous hearings. An arrest warrant was issued by a judge after she failed to attend a hearing relating to her bankruptcies. She previously said she was “not running from matters”, but was “away working for a documentary on corrective surgeries” during the court hearing.