Not sure if this should be in money or sleb twaddle, but Kerry Katone made bankrupt yet lives in a massive house and has fancy car.

[nevergoogle]

I'm probably being stupid about what bankrupty is, but can someone explain it please.

IIRC the house is rented (A MNer lives opposite!) and assuming the car is too. SHe has sold off lots of things to pay back some money. Apparently sold her mums house (which KK owns)

Of course none of this is fact just what i have read.

she still works tho. has money to live on

ah ok. thanks.

she has moved south and now he management company have rented her a house and are paying for her kids school fees and she also gets a weekly wage but this is all aslong as she has no contact no contact with mark.

Yep her management pays for the lovely big house and her expenses etc. They must think that they will make the money back out of her.
Which is quite a burden for her to shoulder I think. I don't know, am feeling very sorry for her and what she's been through. She just seems to get used all the time, the management company are no exception.

Having watch her fly on the wall programme on sunday i did see Claire in a different light. I just hope this time things will get better.

I think what the management are doing is ight in moving her and the kids from everything and everyone and hopefully they will help her get her life back on track

Im watching her prog now and she is slurring like anything...medician perhaps?

Diet queen, I watched the two prog's and the first one she seemed normal and I thought the same thing last night that she was slurring her words, she said she was off the bipolar meds, and she is being checked by management for drugs, so maybe she is drinking! She said in her kitchen she still likes a drink and a ciggie!

I do agree with Lizzylou that Kerry seems to get used a lot, and I agree management are probably the same, I feel the type of user the management is, is more benign than others have been in her life, they use Amanda Holden, Peter Andre and many more, and do a lot of work and live a good life!

The children look a lot happier than they used to in the MTV shows, far more relaxed!

I like Kerry, I am not yet convinced that she has dealt with all her deamons yet, I think she needs to keep going with the life coaches and therapy a bit more personally. I wish her well!

It's funny how, no matter how bad it gets, these defunct slebs never actually get to the point where they have to face up to the prospect of getting a menial admin job or stacking shelves.

All in favour of them 'working' rather than claiming benefits, of course, but I always find it amusing that the 'work' on offer is always low-grade 'sleb work'! It's The Jungle Programme or a column in a magazine or an ad promotion. You never see any of them actually having to go for an interview with a CV.

how much does she owe?

at least her management ordered her to dump mark frost.

oh right, read thread title properly.

When I used to work in debt advice I sometimes recommended people for bankruptcy. The law has changed recently but the principles are much the same.

Bankrupt people have to sell all or most of their assets and then use a proportion of their income to pay off as much debt as is reasonable. In practice, most of the debt is likely to get written off.

KK still earns a fair amount I'd imagine. Out of this there are guidelines from the British bankers association for deductable living expenses based on individual circumstances. As you can imagine this organisation's idea of 'reasonable living costs' are much higher than an average person's normal living costs. eg if you have a child who has skiing as a hobby then you are allowed to keep spending on that! In KK's case the private school fees could well be classed as 'reasonable living costs' (although I know nothing of the actual case).

People often imagine that bankruptcy means poverty but it is usually not the case. lots of people with a lot of debt would be better off declaring bankruptcy and wiping out their debt rather than scrimping and saving to pay it off, esp if they are renting.

It stays on you credit record for 6 years but after that you are as free to get a mortgage etc as the next person.

thanks for the explanation.
i like kerry katona. she has that vulnerability/heart on your sleeve thing on her side.
but i agree with UQD that it does seem odd that she doesn't have to completely start over like i would have to if i was as irresponsible with my money as she has been.
i'd have to get the bus to the fish packing factory.