Katie Price reportedly declared her bankrupt in emotional scenes on her reality show My Crazy Life.
The former model, who has been facing financial turmoil for months, will reportedly reveal that he has declared a bankrupt, although her hearing is slated for December 4.
According to The Sun Online, Price told the cameras: "I will be bankrupt in a year. It's not that bad.
"I've got nothing to be ashamed of anymore. It's just going to go through it like me. It's just a matter of going through the motions. This is what has to be."
The publication also claims Price, 40, including Peter Andre, Alex Reid and Kieran Hayler – for her financial hardship.
Price was known for funding lavish lifestyle with cars, expensive holidays and luxurious homes. She also splashed the cash on presents, including the most recent lover Kris Boyson.
The source added: "It was wrong when Peter and other people stopped paying for her bills and giving Katie things for free.
"Katie was never one to pay anything on time either. She ended up with CCJs [county court judgements] coming out of her ears. "
Standard Online has contacted representatives for Price for comment.
Price 's reality show, My Crazy Life, about the battle with addiction and admission to rehab.
The 40-year-old was known to have had "gone too far" and needed to seek help, checking herself into The Priory.
My Crazy Life airs, Monday December 3 on Red Quest