It’s a good time to be Shane Filan.

The former Westlife singer has just embarked on a solo career, after signing a €1m deal with Capitol records, and he is receiving rave reviews for his upcoming first single.

Just one year ago, however, it was a very different picture for the Sligo man.

Speaking to Ryan Tubridy on 2fm yesterday morning, Filan opened up about his spiral into financial chaos, which culminated in the singer declaring himself bankrupt in the UK last summer.

Filan opened up on a special outdoor broadcast of the Tubridy show on 2fm

Filan told the talk show host of the events last year, saying; “We had just sold out three gigs at Croke Park and I realised only had €470 in my account.

“I was close to penniless.”

Father of three Shane has been married to his wife Gillian since 2003, and admitted that being forced to buy back his wedding ring was one of the lowest moments in the whole affair, saying that he was told to "either hand it over or buy it back".

Shane has been married to wife Gillian since 2003

"You don't expect to have to buy your wedding ring twice," he said.