Duchess of York Sarah Ferguson Faces Bankruptcy

Surprising developments out of Buckingham Palace report news of the Duchess of York's bankruptcy. Startling? To all those who are familiar with the rich history of the Royal Family, indeed it is. Newspapers and media outlets in Britain and afar report that the possibility of the Duchess of York filing for bankruptcy is imminent. The news is very unfamiliar that a Duchess of York bankruptcy was even possible. To make matters worse, the ensuing embarrassment Sarah Ferguson has caused to the Royal Family is almost impossible to quantify.

"It's a simple civil court procedure costing around £500 which will enable her to walk away from every single penny of her debt. If your assets are of a lesser value than your debts and if your income is not great enough to meet your expenses, it's generally a good option", reports Richard Sorksy, a senior financial adviser.

The Duchess of York bankruptcy came as somewhat of a shock, given the seemingly placid, subdued, and fiercely private affairs of matters pertaining to Buckingham Palace. However, when 5 million British pounds are at stake, and have literally vanished, it's difficult to contain the secret.

A report from the Telegraph states that those close to the Duchess of York's financial affairs show disturbing signs of misspending and a "naïve" air of business affairs. The Duchess had been, over the months, entangled in a menagerie of bad choices stemming from an alleged "access for hire" plot involving Prince Andrew, her former husband. This incident, according to reports, netted her 500,000 British pounds, a far cry from the debt she ran up, which led to the filing of a bankruptcy. The Duchess has since apologized for this, but the recent revelation of a bankruptcy filing by Ferguson has caused the Queen to be "deeply concerned".

Can the Duchess of York Bankruptcy resolve itself?

This is somewhat of a rhetorical question, given Ferguson's stature. Even in a former Royalty state due to the divorce from Prince Andrew, the Duchess of York wields marketing potential. Recall that she has produced a string of children's books, made commercials, and has been involved in a series of documentaries. Further, she still carries the title of Duchess. That alone gets her opportunities to rebuild her life, while a lay person could not.

The Duchess of York's bankruptcy underscores the fact that, even in the highest of places, and beyond the laws of physics, what goes up, must come down.

Sources:

Telegraph: "Duchess of York doing 'everything she can to avoid' bankruptcy

Guardian.co.uk: "Sarah Ferguson facing bankruptcy after running up debts of millions"