Kerry Katona's cash crisis worsens

Maid Marian

Kerry Katona's court date to remortgage home as cash crisis worsens

Cash-strapped Kerry Katona is fighting to remortgage her home so she can pay off a huge tax bill.

The troubled former pop star was given 10 weeks to pay £417,000 earlier this year - but still owes £157,000.

She is going to court next Wednesday to try to lift a bankruptcy order on her home which prevents her from any refinancing on the property.

A source said: "She can't raise the cash. The only way is if she remortgages. But even that is not possible because of the bankruptcy charge.

"Kerry's desperately worried and is just praying the courts show leniency.

"She doesn't want the bailiffs on her doorstep. She has money from her Iceland ads, not to mention her magazine column. It's incredible they've found themselves in this situation."

An emergency meeting was held with her accountant last Friday, also attended by her husband Mark Croft.

A source close to Mark, 38, said: "He was stunned when he came back."

As well as being hit with bankruptcy papers over unpaid tax from 2004 to 2006, she owes £73,000 tax from 2007.

But Kerry, 27, still splashes out on luxury motors. In the past two years Mark's gifts from her include a Ferrari, two BMWs, two Range Rovers, a Lamborghini, four Porsches, two Aston Martins, an Audi and two superbikes - worth an estimated £1.5million.

Kerry, mum to Molly, six, Lilly Sue, five, and Heidi, 16 months, has also struggled with depression, the death of beloved step-dad Arnie Ferrier and claims that Mark has been unfaithful.

The source went on: "Mark keeps saying, 'It'll be OK', but it doesn't help."

A spokeswoman for Kerry said: "They don't need to sell the house but are going to court to ask for the bankruptcy order to be lifted so they can release the equity."

Source - Daily Mirror

Oh dear, what a shame :roll:

julie · Posted: Tue Jun 24, 2008 1:37 pm Post subject:

She needs to get rid of that idiot she is bank rolling, if he paid his way she wouldn't be in this mess !

Maid Marian · Posted: Tue Jun 24, 2008 9:33 pm Post subject: