Are Prince Harry and Meghan Markle on the verge of bankruptcy?

The Duke and Duchess of Sussex have previously stated that after stepping down from their high royal responsibilities in the British royal family, they wish to attain financial independence.

However, as soon as they were self-sufficient, they began receiving and closing agreements with major corporations.

The pair struck deals with Netflix to produce documentaries, children's shows, and movies, as well as a partnership with Spotify to release music.

However, it appears that they are currently experiencing "severe money problems" in the United States.

According to Star Magazine, Prince Harry and Meghan Markle are on the verge of going bankrupt after establishing their new life in the United States.

The couple's move was not cheap, as their security detail would cost them almost $3 million.

Despite their financial constraints, the pair allegedly refuses to settle for less, particularly when it comes to travel.

They have apparently been spending a lot of money on their five-star hotels in the last several months.

Insiders told the magazine that their lavish spending had resulted in a financial hole.

Prince Harry is said to have a $480,000 credit card debt and has already spent his inherited money from Princess Diana.

Meanwhile, his wife, Meghan Markle, is rumored to have spent $10 million on clothing and jewels.

The couple's accusations of bankruptcy may have been prompted by news that they are selling their Montecito property and that the Duke and Duchess of Sussex are relocating to a new estate.

An insider revealed to The Mirror that Prince Harry and Meghan Markle are "thinking" of letting their $14 million mansion go, but it wouldn't be posted on the market because of "who they are."

Instead, the property will only be shown to "people who are confirmed with funds and are serious buyers," the source added.

The couple isn't thrilled with their new house, but they intend to stay in the Montecito area.

The Real Story Behind Prince Harry and Meghan Markle's Bankruptcy

The Duke and Duchess of Sussex have yet to respond to the claims following the news.

This signifies that there is no evidence that these stories are true.

The publications' sources and insiders also didn't give any proof for the assertions, so it's wise to treat these reports with caution.

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Meghan Markle, Prince Harry, Prince Harry and Meghan Markle, Royal family, Royal uk, Royal update