Jim reportedly came into financial difficulty last year after he was arrested by police investigating Jimmy Savile’s sex crimes.
He was cleared eight months later and said: “After £300,000 of lost earnings and £100,000 lawyers’ fees, I got a phone call saying there would be no further action."
The comedian, who was first declared bankrupt in 2006, is now laughing though - after pocketing a reported £200k for his appearance on the Channel 5 reality show.
And Jim's career seems to be back on the up, as he plans to perform at the Edinburgh Fringe this year, Chortle reports.
He's reportedly writing a book about the experience of being accused of historic sex offences, which he then wants to turn into a live show.
Channel 5 will also air a documentary starring Jim on Monday, called 'Jim Davidson: At Least I'm Not Boring', which will share the story of how Jim was left heartbroken after being banned from the funeral of Lady Thatcher because of the Operation Yewtree investigation.
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