Former glamour model Katie Price has been declared bankrupt for a second time over an unpaid tax bill of more than £750,000.

Ms Price, who was previously declared bankrupt in 2019, owes £761,994.05 to HM Revenue and Customs (HMRC), a court was told on Monday.

At a short hearing at London’s Rolls Building, Insolvency and Companies Court Judge Sebastian Prentis said Ms Price had not responded to HMRC over the debt, and declared her bankrupt.

“There has been no response from the debtor. The papers are in order,” he said.

“There is a substantial debt due from Ms Price to HMRC, and therefore I will make a bankruptcy order.”

The judge said the bill “derives from self-assessments from the year 2020-21 and from the year 2021-22” and includes…

Other factors mortgage lenders consider when you apply include your credit score, your down payment, your employment history, and more. This guide is focused on DTI, as it’s crucial to understand how to calculate your DTI and how your DTI can impact your chances of getting the mortgage terms you’re hoping…

Sudbury MP Viviane Lapointe said Tuesday evening that the fall economic statement includes plans to change the legislation that allowed Laurentian University to declare insolvency.

LU used the Companies’ Creditors Arrangement Act (CCAA) to declare insolvency in February 2021, leading to layoffs, program cuts and the end of its agreement with federated universities.

It was the first time a public institution used the CCAA to restructure, and the move led to an audit by the province that concluded the university had other options, but chose insolvency.

In a news release Tuesday, Lapointe said the feds “will take steps to amend the Act so that post-secondary institutions can no longer access the bankruptcy act as…

Volocopter CEO Dirk Hoke recently told German media that the eVTOL developer may need to look at insolvency options, after the company failed to secure loans from the Baden-Württemberg and Bavarian states to support its electric aircraft development.

“Volocopter has been transparent that the fundraising market has been difficult in the past few years,” Hoke said. “The German federal government is still very supportive of Volocopter in receiving a convertible loan, but in general, Germany has very limited mechanisms to support startups in the late stages of financing.”

After Volocopter’s first failed attempt to secure a €100-million (US$107-million) loan that would be split equally between the company’s home state of…

High interest rates have sent shockwaves through the housing market.

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Aussie homeowners are playing a game of refinance roulette as they weigh up what to do with their current mortgages.

Comparison site Finder has revealed one-in-five Australian mortgage holders has refinanced with their own lender in the past year as cost of living pressures tighten budget belts.

According to the ABS, in April there were 17,221 external refinancers seeking mortgage relief outside their original lenders.

Homeowners are increasingly turning to refinancing deals. Picture: Gaye Gerard

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Additional research by Finder unearthed another harsh reality; one in four homeowners say they’re at breaking point and aren’t prepared for rates to remain high through to…

Yes Bank Ltd. appointed Sumit Bali as the new head of Retail Assets and Debt Management in India, according to a Bombay Stock Exchange (BSE) filing on Monday, August 26. 

The appointment is effective today, as of August 26, 2024, according to company’s regulatory filing.

“We are pleased to welcome Mr. Sumit Bali to Yes Bank. His extensive experience and deep understanding of the retail assets, rural assets, and debt management will be instrumental in driving our strategic goals. As we continue to focus on sustainable growth and building a robust assets business, I am confident that Mr. Bali’s leadership will be pivotal in achieving our objectives and reinforcing our position as the Bank of Choice across all customer segments. I wish…

In his role, Bali will be responsible for driving the growth and profitability of the retail assets, rural assets, and debt management businesses, which are crucial to the bank’s overall success. He will work closely with key stakeholders to strengthen the Bank’s assets business, ensuring best-in-class management and governance practices across the organisation.

“His extensive experience and deep understanding of the retail assets, rural assets, and debt management will be instrumental in driving our strategic goals,” Rajan Pental, executive director, Yes Bank said. “As we…

The City of Milwaukee, WI has selected DebtBook’s cloud-based Debt Management solution to modernize its debt data management, processes, and reporting.

CHARLOTTE, NC, US, August 26, 2024 /EINPresswire.com/ — DebtBook, a leading provider of software for government and nonprofit treasury and accounting teams, today announced that the City of Milwaukee, WI (“the City”) has selected the firm’s cloud-based Debt Management solution to modernize its debt data management, processes, and reporting.

Established in 1846, the City of Milwaukee is home to nearly 600,000 residents. The City’s $1 billion debt program is managed by the Office of the Comptroller which also oversees the…

DES MOINES, Iowa (KCCI) – Some school districts in Iowa are reporting thousands of dollars in unpaid lunch accounts.

With the first day of school approaching, one man is calling on others to help pay off lunch debts, just like he did in his community.

School lunch is considered a learning necessity.

“When students are fed, they perform better in the classroom,” childhood nutritionist Kaitlyn Scheuermann said.

So, even when a child can’t pay, schools in central Iowa feed them, but the deficit in dollars unpaid is adding up.

That’s where Rick Vernon stepped up.

“I called the superintendent of schools, Tom Messinger, discussed this with him, and he said it was definitely a problem,” Vernon described.

The Newton Schools alumnus found…

One quirk of the HELP repayment system is that, on reaching each repayment threshold, the debtor pays a % of their entire income. England and New Zealand followed Australia in creating income contingent student loans. But their repayment systems are based on a % of their income above the threshold – they have marginal rate systems. The Australian income tax system also uses marginal rates.

The Universities Accord final report HELP repayment recommendations include ‘moving to arrangements based on marginal income’.

As explained below, this Accord change would reduce ‘effective marginal tax rates’ – the loss of disposable income on each dollar above the threshold. Under the current system, EMTRs can exceed 100%…