Fergie's financial meltdown leads to voluntary bankruptcy recommendation

Sarah Ferguson, commonly known as 'Fergie' and officially as the Duchess of York, has been advised to file for voluntary bankruptcy as her financial troubles culminate to something that resembles a small personal financial meltdown.

An embarrassing video released to a British tabloid several months ago illustrated the extent to which the Duchess has sunk with regard to her financial situation. The clip shows her arranging a deal with a journalist to meet her former husband Prince Andrew - from whom she gets her royal title.

Following this incident, Ferguson publicly admitted her financial troubles after many years of speculation in the press.

According to the Sunday Telegraph, the Duchess' debts have risen to around £5 million ($10.9  million). The newspaper also reported that one known advisor working for Buckingham Palace has advised Ferguson to file for voluntary bankruptcy. 


David Cameron, the recently elected British Prime Minister, has reportedly been briefed on the issue. It was noted in the report that no member of the royal family has ever been declared bankrupt before. 

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Sarah Ferguson, Duchess Of York, Caught Selling Access To Prince Andrew

The Duchess of York, Sarah Ferguson, says she feels 'devastated' after it was revealed that she attempted to sell access to her ex-husband, Prince Andrew, with prices reaching as high as half-a-million pounds.

The News of the World, a British tabloid, had posted the secret footage on its website. She is heard to say, "500,000 pounds to me, when you can, open doors".

When asked if she was referring to the Prince, "yeah".

It was reported by the Associated Press that 'Fergie' has been suffering financially before, and has complained on numerous occasions that her divorce settlement had been 'stingy'.

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