Katie Price avoids bankruptcy as she’s given 12 weeks to pay off debts – Metro

Katie Price has voiced being formally declared insolvent.

The former model, 40, who was once worth £45million did not appear the Rolls Building bankruptcy court on Tuesday morning.

However the reality star instead avoided bankruptcy by submitting an application to pay off her creditors with a payment plan, in the in-and-out hearing.

In her absence, her team submitted proposals for an individual voluntary agreement (IVA).

The agreement will see debtors pay back their creditors over a period of time, with Katies application heard in 12 weeks on 30 October.

Moth…