NEW PICS: Drake Bell Loses $2 Million Home in Bankruptcy
Not only is Drake Bell penniless, but he’s also homeless.
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.