The 27-year-old "It's my time" singer, who replaced Keisha Buchanan in the group in 2009, is believed to have run into trouble when the band went on a break in 2012 to pursue their own projects and never got back together, reported Daily Mirror.
"Jade put her all into her music but sadly things simply haven't gone well. She joined the Sugababes full of optimism and had high hopes given the band were very much established in the charts. But it seems she fell victim to their shelf life expiring," a source said.
"I kind of was unlucky in that I came in (to Sugababes) towards the end of the cycle when things naturally came to the end."
Ewen, however, will not be the first member of Sugababes to be declared bankrupt.
Mutya Buena, who was an original member of the band, reportedly blamed an administrative error for her unpaid tax bill last year.