The model “Bankrupt Price” will lose 40% of her OnlyFans income as a result of failing to repay her debts, leading to a significant financial setback.
The model “Bankrupt Price” has been ordered to pay 40% of her income from the site after failing to repay her debts.
During the High Court proceedings, it was revealed that the former model had previously entered into a voluntary agreement concerning her debts, but had not fulfilled the agreed payments.
Subsequently, four companies, including OnlyFans, have been directed to allocate 40% of her earnings towards her outstanding repayments.
Having declared bankruptcy in November 2019 at the age of 45, the individual promotes herself as the “queen of glamour” on her OnlyFans page, where subscribers are charged $14.99 (£12) monthly for access to her “exclusive content”.
During a recent hearing, barrister Darragh Connell, representing trustees, informed a specialized bankruptcy judge that the prior agreement mandated 36 monthly payments of £12,500 along with a lump sum, which the individual had failed to remit.
The four companies identified as sources of her income included OnlyFans and the celebrity news agency Backgrid.
Judge Catherine Burton of the Insolvency and Companies Court ruled that these companies must deduct 40% of the individual’s income for the next three years to be channeled to a bank account selected by the trustees.
It was noted that OnlyFans, under its parent company Fenix International Ltd, did not contest the directive.
Judge Burton stated that the individual would undergo financial scrutiny in April.
Last October, Price expressed her frustration with constant legal threats, stating she would willingly go to prison to end the ordeal. During a conversation with TV personality Michelle Visage on her Rule Breakers podcast, Price delved into her bankruptcy, revealing she had frequented court more often than she had hot dinners and genuinely wouldn’t mind imprisonment.
In March 2023, Price encouraged individuals not to feel ashamed of bankruptcy during an appearance on Jeremy Vine’s Channel 5 show. She disclosed her ongoing struggles with mental health in recent years.
During a prior hearing in September, proceedings were conducted privately after Price cited heightened anxiety levels due to online observers recording and taking screenshots of the case.
Hey there, everyone! So, I just heard the news that Bankrupt Price is about to lose half of their income from OnlyFans. It’s definitely a big deal, and it got me thinking about the broader issue of income instability in the online creator world. With platforms like OnlyFans becoming such a crucial source of income for so many people, any changes to their policies can have a significant impact on individuals’ livelihoods.
For Bankrupt Price, this news means a major shift in their financial situation. It’s a reminder of the risks and uncertainties that come with relying on a single online platform for income. This situation sheds light on the need for diversification and financial planning, especially in the digital creator space where algorithms and policies can change in a heartbeat.
I hope that Bankrupt Price and others affected by this change are able to navigate this transition and find new opportunities to support their creative endeavors. It’s a reminder to all of us to stay adaptable and keep an eye on the broader trends shaping the online creator economy. Let’s continue to support our favorite creators and spread the word about the importance of income stability in the digital age.
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