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Katie Price avoids bankruptcy in High Court hearing

Katie Price was given time to reach an agreement to pay off her debtsImage copyright
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Katie Price has agreed a plan to pay back what she owes

Katie Price has avoided bankruptcy after reaching an agreement with her creditors.

The TV personality, 40, appeared at the High Court after reportedly blowing all of her estimated £45m fortune.

Formerly known as glamour model Jordan, she is believed to have a number of creditors, many of whom arise from the upkeep of her West Sussex home, which is in a state of disrepair.

The court was told she has agreed a plan to pay back what she owes.

The petition to make her bankrupt was dismissed by the court.

Price was given time to negotiate a deal with tax officials in October.

At the time, lawyers for HMRC told judge Jonathan Middleton they had been informed of a proposal by Ms Price for an Individual Voluntary Agreement.

The IVA lets people with debt repay their creditors at an affordable rate, to avoid bankruptcy.

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