It has been announced today that Kerry Katona is fighting to remortgage her home to pay her £157,000 Tax Bill and prays the Courts will be lenient. It’s said that Kerry was given 10 weeks to pay £417,000 earlier this year but she still owes £157,000. According to reports Kerry 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 that “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.”
As well as being hit with bankruptcy papers over unpaid tax from 2004 to 2006, she owes £73,000 tax from 2007.
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.”
What do you make of all this? Do you think that Mark will leave her once he realises she has no money?
source
I was under the impression that the FSA will NOT allow raising money on a (re) mortgage for paying tax bills and gambling debts. Can someone confirm this?
Comment by MP — June 25, 2008 @ 6:09 pm