Katie Price's income from TikTok has recently faced suspension due to her mounting bankruptcy issues, following directives from the court. This new ruling aims to facilitate the payment of her debts stemming from two bankruptcy declarations, the most recent occurring earlier this year.
The 46-year-old model's TikTok proceedings were halted by Insolvency and Companies Court Judge Catherine Burton, who defined this measure as "appropriate." While this setback could potentially hinder her financial recovery, Price’s TikTok presence has reportedly remained strong, having garnered over 1.6 million followers.
Price was previously declared bankrupt back in November 2019 and faced another bankruptcy declaration due to an unpaid tax bill exceeding £750,000, which elevated concerns about her financial stability.
During the court proceedings earlier this month, it became evident she had failed to attend several key hearings, leading to her arrest at Heathrow Airport. Judge Burton made it explicitly clear to her: "no ifs, no buts," reinforcing the notion she must attend all future court sessions.
Price’s social media earnings have become central to the discussion surrounding her bankruptcy. Tanking finances led her to earn significant money from TikTok, where payments have already reached approximately £95,000 within just three months.
Despite advances made toward her financial recovery, there are worries about payment avenues through TikTok going unnoticed by her trustees. The income flowing to Price could potentially escape the trustees' reach, thereby complicATING matters around settling her debts.
Katie’s absence from the latest court session raised eyebrows among lawyers representing her bankruptcy trustees. Her representatives have pointed out the necessity for TikTok to adhere to court orders, but acknowledged it's complicated by the platform's payment structure.
Legal representatives working on behalf of TikTok recognized the company's commitment to complying with judicial orders but noted technical challenges associated with altering payment allocations. The lawyers argued to suspend Price's income until they can ascertain TikTok's capabilities to manage her financial distribution legally.
Prior to the recent ruling, Price had been instructed to pay 40% of her income from the adult service OnlyFans until February 2027, illustrating her precarious financial situation. It’s no surprise her lawyers sought to extend similar terms to her TikTok earnings amid this financial turmoil.
Katie Price's TikTok strategy previously included creating e-commerce content for TikTok, which constituted various agreements totaling £84,000 paid out over three months. She also earned smaller commissions from purchases influenced by her engagement online, though these summative earnings are now on hold.
Moving forward, Price is scheduled for another court date on 27 August, where the court will reassess her financial situation. Given her recent brushes with the law and evident financial crisis, this hearing may shape the future of her financial recovery.
Katie Price remains notable not only for her prior television and modeling work but also for her public battles with finances. How her substantial presence on platforms like TikTok will impact her ability to recover from bankruptcy remains yet to be seen.
