Sarah Ferguson Duchess of York Fights to Avoid Bankruptcy

The Duchess of York, Sarah Ferguson is in the news yet again this week, as reports are emerging that she is headed towards bankruptcy following a succession of failed business deals.

It was only in May 2010 that Sarah Ferguson was in the news with a scandal involving her being caught in a sting operation, trying to sell access to her ex-husband Prince Andrew for a large sum of money.

Now it seems, according to The Daily Mail, that she is having to fight hard to avoid being made bankrupt.

Her debts are reportedly increasing by thousands of pounds a week in interest alone, and she is even unable to repair the luxury Bentley car (worth £130,000) that is in her garage.

A spokesperson for Buckingham Palace stated that she has been recommended to seek bankruptcy, and if she does, she would be the first member of the Royal Family to have had to do so.

The Queen is deeply concerned over this situation, and has even discussed this with David Cameron, the Prime Minister. according to official sources.

But despite some improvements to her financial situation, where her debts rose as high as £5 million, Sarah Ferguson still owes an estimated £2 million. Prince Andres, her ex-husband, reportedly assisted in covering £1.5 million to clear much of her personal debts, but it is her debts in the USA that form the main part of the remaining debt.

Sarah's latest problems began last year, when she cancelled her lucrative contract with Weight Watchers, and meantime a company that she had set up to manage her publishing and media work went into liquidation with debts of $650,000.

A source close to the Duchess claims that she sees herself as a victim and has been taken advantage of, with lawyers charging enormous fees for just a few hours work.

Prince Philip has apparently told Prince Andrew to "wash his hands of her", since the problems with his ex-wife just keep on coming.

Sarah has often been in the news, both during and after her marriage to Prince Andrew.

A few years ago it was her excess baggage on the return from a trip to the USA that sparked a lot of coverage in the press, with the British tax payers having to pay for an extra 50 bags on board her plane. Then it was the photographs (paparazzi) of someone sucking on her toes during a holiday in St. Tropez in 1992.

Having managed to combat her weight problems, Sarah became a spokesperson for Weight Watchers in the USA, and seemed to be turning her life as the "Queen Of Scandal" around, but this year it seems her bad choices have come back to bite her, and bite her badly.

Sources:

The Daily Mail

News Of The World

Prince Andrew And The Queen Of Scandal Sarah Ferguson