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Katie Hopkins Files For An IVA

By 18th September 2018News

Katie Hopkins Files For An IVA

Controversial figure, Katie Hopkins, has taken out an IVA to manage her debts, after losing a six-figure libel case. She applied for the IVA in May, as a way to avoid entering bankruptcy, and her application was agreed following a meeting of her creditors.

Ms. Hopkins seems to be struggling for money recently, after losing a libel case to food writer Jack Monroe, her lucrative Mail Online work dried up late last year, shortly following losing her job at LBC radio. She spent £1,000,000 on a luxury mansion earlier this year, quickly selling it at a loss after just three weeks.

Ironically, Katie Hopkins shared her (obviously idiotic) opinion regarding people in debt, stating: ‘The only thing people in debt have in common other than bad money management, is an ability to blame anyone but themselves. #debtdebate’

IVA - Individual Voluntary Arrangement

Hopefully, her current situation will help her realise that anyone can find themselves in debt or struggling with money, through no fault of their own.

Jack Monroe revealed that Katie has now paid the £24,000 in damages she was told to hand over after a judge ruled she’d caused “serious harm” to Jack’s reputation with a tweet she posted in May 2015.

She had written: “@MsJackMonroe scrawled on any memorials recently? Vandalised the memory of those who fought for your freedom. Grandma got any more medals?”

Hopkins’ tweet, Jack said, implied she had either vandalised a war memorial or “condoned or approved” of the criminal damage to the memorial – something that was clearly untrue as Katie had confused Jack with another campaigner.

Jack asked Hopkins to apologise on Twitter, but she refused – resulting in Jack consulting a legal team and filing a complaint of defamation against her.

The court case ended in March 2017 with a jubilant Jack – and a bill of £107,000 in costs that Hopkins was instructed to pay within 28 days.

What is an IVA?

An IVA (individual voluntary arrangement) is a legal procedure for people in financial difficulties with unsecured debts. It is a legal agreement between you and your creditors to only pay what you can actually afford to pay off your debts. The arrangement will stop any further interest and charges being added to your debts, and normally lasts 60 months (although occasionally 72). You will be legally required to pay the agreed monthly payment, and at the end of five years anything remaining (up to 80%!) will be legally written off.