Katie Price has avoided bankruptcy after reaching a deal with her creditors.
According to BBC News, the former glamour model appeared at the High Court in London today, and the court was told that she has agreed to a plan to pay back what she owes.
Therefore, the petition to make her bankrupt was dismissed by the court.
Back in October, Katie, who filed for bankruptcy over the summer, was given time to negotiate a deal with tax officials.
The case was previously adjourned following a hearing in August to allow time for the consideration of an Individual Voluntary Agreement (IVA).
An IVA lets people with debt repay their creditors at an affordable rate, to avoid bankruptcy.
Katie has now officially made the agreement with her creditors to repay her debt, which her representative had hoped for since August.
