SCATTERCASH Kerry Katona has blown the last of her fortune in a crazy spending spree that has seen her get through £140,000 in a MONTH.

Bailiffs are preparing to seize her home, but instead of paying her mortgage Kerry has:

SPLASHED out on clothes for herself and the kids at posh store Selfridges.
SPENT a fortune on booze for her mad party lifestyle.
SQUANDERED money on beauty treatments for her mother Sue, 49.

On Wednesday, Kerry, 29, had to go to court to fight to keep her home and vowed to pay her £2,450 monthly mortgage.

But she has promised that before and despite being given £465,000 since being made bankrupt in 2008 she hasn’t paid her mortgage for more than a year.

A source close to the star told us Kerry has been getting £8,000 a month from the accountants dealing with her bankruptcy to cover her mortgage, kids’ school fees and living costs.

Erratic
But instead of paying the bills, the cash funds Kerry’s erratic lifestyle.

The source said: “The £140,000 was a final lump sum from the accountants and that is her pot of money completely gone now.

“She hasn’t earned much for months but in court on Wednesday she promised to start paying her mortgage.

“Kerry has had months to sort this out but instead she has stuck her head in the sand and refused to pay.

“Now she actually hasn’t got the money to pay it and if she doesn’t find it from somewhere the mortgage company will send in the bailiffs. She could be on the streets by Easter. She only has herself to blame.”

On Wednesday Kerry, 29, was taken to court by her mortgage company Cheltenham and Gloucester, who already have an order of possession on her home and wanted to enforce it and get her out.

She persuaded them she would start paying the mortgage on £1.2 million home in Wilmslow, Cheshire, where she lives with husband Mark Croft and children Molly, nine, Lilly Sue, eight, Heidi, two, and Maxwell, one. So the court gave her a two-month stay of execution.

Now the disgraced former face of supermarket chain Iceland must come up with the cash or face eviction.She can’t even move in with her mum Sue – because she is losing her home too. Sue should have been evicted earlier this month but her solicitor bought her more time. Our source said: “Kerry sobs about what her life would be like back on benefits and in a council house but she has had opportunities and blown them.

“All the wages have gone to the trustees dealing with the bankruptcy. They had control of her earnings because she made a fortune from MTV, Iceland and mag deals.

“They didn’t want Kerry’s family on the streets so all her living costs were budgeted for – but Kerry squandered the money. She has even run up up £200,000 in fees concerning her bankruptcy.

“The mortgage should have come first but Kerry thought she’d wriggle out of it.

Spree
“She thought she was immune from losing her home, so when she got given the cash from her accountants she went on a spending spree.

“Kerry went to Selfridges and spent a fortune on clothes for her and the kids. Then she blew loads on having a good time. When Sue discovered she was going to be able to stay in her house a bit longer they bought loads of booze to celebrate.

“And when Sue was feeling a bit down Kerry paid for her to have beauty treatments.”

She has also spent thousands on flash motors, including a Ferrari and Porsche, for hubby Mark Croft.
Our source says: “Cheltenham and Gloucester will give her two months. They are not a charity, if she doesn’t pay she will have to get out.”

Kerry was declared bankrupt in 2008 for failing to deliver the final £92,000 of a £467,000 tax bill. She then lost her MTV reality show and a £290,000-a-year Iceland deal after we obtained film of her snorting cocaine.

Deloitte, the firm dealing with Kerry’s bankruptcy, said: “Whether somebody is bankrupt or not they must pay their mortgage or face losing their home.”

Source: News of the World