Bankrupt Kerry Katona moves into £3k a month mansion


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Kerry Katona, the former Atomic Kitten and reality TV star, is one of Britain's most famous faces of bankruptcy. She has been through the process twice - most recently just last year. So it may come as a surprise to hear that she has just moved into a lavish property.

She's not the first celebrity to have bounced back from debt problems.

Her move was confirmed in a blog by, which highlighted that Katona and her fiance George Kay had moved into a five-bedroom country home in Oxfordshire with her four children.

The Sunday Mirror said that the property was costing her an incredible £3,000 a month, and listed its features as four reception rooms, a triple garden and countryside views.

It seems incredible that she can afford it given that she is still in bankruptcy, but according to the terms of a bankruptcy agreement, she is allowed to retain enough of her income to maintain a reasonable standard of living. Its arguable that a mother with four children and another on the way may well need five bedrooms.

Celebrities who bounced back

If this is the first sign of her recovery from financial troubles, then she is following a well-worn pattern of celebrities who have bounced back.

Toni Braxton filed for bankruptcy for the second time in 2010. However, by the middle of last year she had paid back the money and settled the case, and in January this year she bought a $3 million new pad in California - just down the road from Justin Bieber.

Kim Basinger hit financial trouble in 1993 after pulling out of the film 'Boxing Helena' and being sued by the studio. Three years later she made her critically acclaimed appearance in LA Confidential, and continues to be in great demand for high-profile roles like her recent appearance in Grudge Match with Sylvester Stallone and Robert De Niro. She is currently estimated to be worth between $35 and $40 million.

Meatloaf reportedly battled financial problems at various stages in the 1980s and even went bankrupt at one stage. However, he bounced back with the release of Bat Out Of Hell II: Back Into Hell and is reportedly now worth as much as $25 million.

George Forman filed for bankruptcy in the late 1980s after spending his boxing fortune. His recovery was thanks in part to his return to the ring. He credited healthy eating with his great form, which persuaded Russell Hobbs to make him the face of a fat-reducing grill. He has never revealed how much he has made from the deal, but remains clear of financial problems.

But one of the most striking recoveries was staged by the car manufacturer, Henry Ford. He went bankrupt in his first attempt to start a car company. Two years later he went on to create the Ford Motor Company. By the time of his death his net worth was $199 billion in today's prices. That makes him the 9th richest American of all-time.