Court documents obtained by The Mirror show Gillian, 39, was ruled to be bankrupt by The High Court on 23 July, in relation to joint loans she shared with her husband of 15 years.
Shane, 39, found himself in similar financial troubles in 2012 after his company with brother Finbarr, Shafin Developments, went bust after borrowing millions from Bank of Ireland and Ulster Bank.
According to The Irish Independant, the bankruptcy is believed to have stemmed from mortgage debts Gillian and Shane had with Ulster Bank believed to be worth over €4m, or approximately £3.5m.
The debts are also reported to have come from three properties the couple co-own in Sligo, Northern Ireland.
MailOnline has contacted representatives for Shane and Gillian Filan for further comment.
Shane himself was declared bankrupt in 2012 after his company with Finbarr, Shafin Developments, went bust.
During the economic boom the siblings borrowed millions from the Irish banks to build a 90-strong housing development along with a nursing home and supermarket in Dromahair, Co Leitrim - close to Shane’s home in Sligo.
These plans were scrapped when the company went bust and Shane filed for bankruptcy in Kingston County Court.
Relocating to Surrey, Shane and wife Gillian were forced to sell their home in Sligo - valued at €10 million during the financial boom - for €800,000 in 2014.
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