Kerry Katona and her husband Mark Croft are facing a cash crisis, according to a report in the News of the World today.

Although the former pop star has earned £1.5 million in the past year from book and magazine deals, Iceland TV ads and promotional appearances, she is believed to have spent at least that amount.

Katona has learned that she must pay a £200,000 tax bill, as well as debts to other creditors. She has now brought in professional insolvency advisers to help her to dodge bankruptcy.

A source told the newspaper: "Yes, Kerry does okay but she's not bringing in footballer wages and now the debts are becoming unmanageable. It's got to the stage where she dreads the postman coming with another bill.

"She had to get these insolvency experts in because she simply can't keep up with her payments."

The report claims that OK! magazine recently cut the payment for Katona's column from £3,000 a week to £2,000. Following a series of revelations about her private life, bosses are said to have instructed Kerry to quickly change her image if she wanted to keep her job.

Supermarket chain Iceland also gave Kerry a scare by cutting her appearances in their ads and using her as a voice over, however she is now back on screen in the latest commercials.

An insider added: "Kerry was frantic with worry that she was being dumped by Iceland. It would cost her thousands. So she was hugely relieved when she was asked back."


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