Katie Price is facing the loss of nearly half her monthly income to settle debts after a judge ordered her to curb 'extravagant' spending. The 47-year-old former glamour model, who was first declared bankrupt in 2019 and again last year, remains under an income payments order (IPO) requiring her to pay 40% of her monthly earnings from several companies, including OnlyFans, to the bankruptcy trustee until February 2027.
On Thursday, Deputy Insolvency and Companies Court Judge Stephen Baister granted a second IPO, covering an additional 10 companies, including media and entertainment firms and her agent partnership. Neither Price nor the companies attended the hearing. The judge noted that Price had 'every opportunity to appear' and described her spending as 'extravagant', stating she must now 'trim somewhat'.
The trustee's barrister, Rowena Page, revealed that under the first IPO, Price was required to pay a £25,000 lump sum and 34 monthly instalments of £12,500, but she failed to make the lump sum or any monthly payments. However, over £124,000 had been paid directly by the companies covered by the order. Page argued that the second IPO would benefit Price's creditors, as her income 'significantly exceeds' her family's reasonable needs.
Price's financial troubles began with a 2019 bankruptcy, followed by a second in March 2024 over an unpaid tax bill exceeding £750,000. She was forced to sell her £2 million 'Mucky Mansion' in May last year after failing to pay the mortgage. Both bankruptcies were discharged earlier this year, but the IPOs remain in force as they were applied for before the bankruptcies ended.
