Drake Bell, former Nickelodeon star, files for bankruptcy

LOS ANGELES, Feb. 12 (UPI) -- Child actor Drake Bell, who starred in the Nickelodeon hit sitcom Drake & Josh, has reportedly filed for bankruptcy.

According to TMZ, the 26-year-old actor filed legal documents claiming he is $581,000 in debt.

Bell, who makes a reported $2,820 a month, is said to have monthly expenses of $18,771. He listed his house at $1.575 million, but owes $1.597 million.

The documents also states that while Bell made $408,000 in 2012, his income significantly dropped by 2013 when he made a shy $14,099.

Bell starred in Drake & Josh from 2004 until to 2008. Since then, he has been focusing his on his music career. Bell released "Bitchcraft", a single from his upcoming album, last month.

[TMZ]