Katie Price, a former beauty model, has announced that a huge amount will cut the fees on her OnlyFans subscription site after she was declared bankrupt for the second time this week.

After going bankrupt for the second time, Katie Price cut her OnlyFans membership fee to a meager price.

It was said that the 45-year-old former beauty model was bankrupt again because she owed more than £750,000 in taxes that she hadn’t paid. In 2019, she was ruled bankrupt and still owes HM Revenue and Customs £761,994.05.

Insolvency and Companies Court Judge Sebastian Prentis said Katie had not replied to HMRC about the debt and declared her bankrupt at a short hearing on Monday at London’s Rolls Building. That person said, “The debtor hasn’t replied yet.” Everything is in order. Because Ms. Price owes a lot of money to HMRC, I will order her to file for bankruptcy.

As Judge Prentis put it, the bill “comes from self-assessments from 2020-2021 and 2021-22.” It has interest, income tax, VAT, fees, and VAT. Katie didn’t show up to the hearing on Monday. This was just a few days after she was fined £880 for driving in Northamptonshire without a license or insurance in August of last year.

Katie has lowered the monthly price of her OnlyFans from $14.99 (£11.77) to just $7.50 (£5.85), where it was before. She seems to be trying to make money quickly. It was memorable when the mum of five posed in a racy nun outfit to say she had signed up for the adult-only subscription site in 2022.

After calling the platform “something she was born to do,” the star didn’t have to wait long for the fans to flood in. She has been an OnlyFans creator for over two years and is said to have made an estimated £2.2 million since then.

Katie cut the price of her OnlyFans membership because she was told she could lose everything after being declared bankrupt for the second time. She could lose everything she owns, including her beloved Mucky Mansion and the huge money she has made on the X-rated subscription site OnlyFans.

Late fees and interest charges are also against the reality TV star, who owes more than £3.2 million. Someone who knows a lot about bankruptcy has now said that Katie would have to have “extraordinary circumstances” to keep her £2 million Mucky Mansion. Since she was last declared bankrupt in 2019, it’s possible that the star will also lose the money she has made over the last five years.

The bankruptcy expert told Mail Online that Katie might lose everything she owns now. “She should lose all her assets that aren’t needed for basic living.” No reason exists for anyone to live in a “mucky mansion.” They said that if someone drives a Porsche, the Trustee should take it away and either give them a Nissan Micra or tell them to take the bus or tube.

Being bankrupt a second time in a short time, like within five years, is rare. It does happen, but most people who go bankrupt don’t do it. They can take her rights to the money she has made since her last bankruptcy. She should be able to create a new Income payment arrangement for the profits and other income streams from OnlyFans after the first bankruptcy, as long as the first Trustee has yet to claim them.

“From the date of the bankruptcy order until the end of the second bankruptcy, any new assets that came into existence after the first bankruptcy will be included.” In the first bankruptcy, she didn’t follow through with her Income Payments Agreement, and it’s clear that she has not participated correctly since then.

Katie found out she was once again said to be bankrupt while she was live on a show. Katie gave a reason for not going to court after hearing the news on the Straight to the Comments podcast. Though I had court last week or the week before, I’ve been signed off because of things in my life. I have to deal with important things. There are different types of bankruptcy, but she said, “I think they just use the word bankruptcy.”

Katie said, “But trust me, I don’t get away with stuff like you can’t. No one knows everything.” You can’t get out of paying taxes; you have to do it. “Don’t think I’m just sitting here paying bills; I do.”