The 45-year-old television presenter - who declared herself bankrupt over the weekend - has acknowledged her money woes started when she was sectioned six years ago following a mental breakdown because she ignored so many warning letters from companies asking her for payment.
Speaking on ITV's 'Loose Women' on Monday (30.01.17), she said: "You can't pay your bills because a doctor is looking after you. I didn't open them. The bills kept coming in and I'd had a breakdown and I'd lost my mum, there were lots of things going on in my life so I put them under a pillow. My problem was I kept running away from everything. I was an idiot and I kept running."
Gail's financial situation got so bad that she resorted to sleeping on a park bench in Hampstead Heath, London, because she couldn't afford to rent a property.
She explained: "It wasn't recent but yeah. It was ages and ages ago and I couldn't afford anywhere so I just hung out on Hampstead Heath park on the bench.
"My daughter Honey didn't know at the time. She is 14 now though, so she knows.
I've got an amazing relationship with my daughter, me and my ex-husband get on great."
Gail's income started to get less from 2005 when she was forced to give up modelling because she lost her hair completely after she developed the autoimmune condition alopecia totalis.
The Scottish star - who was previously married Toploader guitarist Dan Hipgrave - now lives off just £200 a week after she's paid rent on her flat.
Her current earnings are a far cry from what she used to bank as just 16 years ago she was hosting 'The Big Breakfast' and reporting for travel show 'Wish You Were Here'.
She also presenter 'Top of the Pops' back in the day, was a regular in the men's magazines and even had her naked body projected onto the Houses of Parliament by FHM.
Gail has also appeared on 'Celebrity Big Brother' and presented ghost-hunting show 'Dead Famous' on Living TV - now known as Sky Living.