NEW PICS: Drake Bell Loses $2 Million Home in Bankruptcy
The Nickelodeon child star has been living beyond his means and was forced to filed personal bankruptcy last May citing between $1 million and $10 million in debts, according to docs obtained by Celebuzz.
The 27-year-old lists his assets as $1,585,500, but he owes a whopping $2,166,976.
The worst part is he's been so down on his financial luck that he lost his home to foreclosure, which went up for auction last August and fetched over $1.4 million.
But forget mortgage, according to bankruptcy docs, he couldn’t even pay the pool service of $1,699.
He owes more than $188K in taxes (dating all the way back to 2008), and he only makes $2,820 a month, but his expenses are a ridic $18,771 (for the basics like $1,000 on food, $500 on clothes, and $500 just to hit the town).
We think you’re gonna to have to quit the clubs and pricey dinners for a while there, Drake.
Well, on the bright side, at least he can pay rent with $4K in his bank account and go to auditions with his $1,500 worth of clothes in his leased 2013 BMW 750i.
And he’ll have to pound the pavement now that his Los Feliz pad is no longer his. Drake bought the 4-bedroom Spanish-style spread in 2007 when his popular kids show Drake & Josh ended its 3-year run for just over $2 million. And he fixed it up with some glittery, gaudy, gothic furniture (all of which he claims is now only worth $5K.)
We wonder if he threw in the Nickelodeon Kids Choice Awards on display in the kitchen?
Take a look for yourself in the CB! gallery above.