The 40-year-old reality star could have as little as two months to find a new place to live if she doesn't work throughout her cash crisis.
Mum-of-five Katie has spent the past weekend enjoying a hen party in Majorca with her new toyboy lover Alex Adderson.
And those close to the star fear her refusal to cut down on her glamorous lifestyle could lead to disaster.
“It’s exasperating for her team that Katie doesn’t seem to be taking this seriously, she thinks she’s ‘The Pricey’ and she’ll find a solution to her cash issues,” a source told The Sun Online.
“It also doesn’t look good that she’s been on holiday for virtually two months solid, which her creditors will be sure to take a dim view about,” the source continued.
The insider suggests Katie’s financial crisis could become irreversible by the end of next month.
“She relies on the creditors' goodwill to get out of the situation. If, at the end of October, they don’t accept her plan to get out of this mess, then she’ll be declared bankrupt,” the source said.
It could mean that Katie – who owns a mansion in Sussex – could be forced to sell up and downsize.
“Selling the farm equipment and animals didn’t raise half as much as she thought, as it was rotting out on the field since Kieran left and was badly in need of repairing, which is very expensive and reduces the price.”
“She’s now down to just two horses, which is heartbreaking for her, as she’s always been surrounded by lots of horses,” they continued – hinting the star is now looking at five-bedroom houses with limited outside space.”
Katie’s money worries come as her recent ex-boyfriend Kris Boyson, 29, “bankrolled” their relationship.
Speaking to The Sunday Mirror at the weekend, a source added: “He bankrolled everything the whole time they were together and really cared about Katie.
“They tried to make it work but he just couldn’t carry on with the relationship.”
It is believed Katie is now placing her hopes in her new toyboy, 25-year-old Alex Adderson.
Our insider added: “Alex is well educated and got a real financial brain on him. He's been giving her business advice, he even reckons that she can borrow some money off him.”
“Although no one thinks it’s a good idea for her to be getting that involved with Alex considering she’s been dating him for just a few hours, let alone days.”
The Sun Online has contacted Katie's representatives for comment.
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