Drake and Josh alum Drake Bell is facing financial woes. According to TMZ, the former Nickelodeon star has filed for bankruptcy. The court documents state that Bell is approximately $581,000 in debt.

The 27-year-old actor claims to only make $2,820 a month. However, he reportedly has monthly expenses amounting to more than $18,771. Bell is also upside down on his mortgage. His home is reportedly valued at $1.575 million, but he owes an estimated $1.597 million.

He also revealed the dramatic drop in his income from 2012 to 2013. In 2012, Bell reportedly earned $408,000. However, he only made a meager $14,099 in 2013. Then, to add insult to injury, the publication reports that Bell allegedly owes an undisclosed amount in unpaid taxes.

It’s definitely no secret that Bell’s career suffered a slight decline after Nickelodeon announced the cancellation of Drake and Josh. The critically acclaimed series, which Bell co-starred on, ran for four seasons with 60 episodes from January 11, 2004 to December 5, 2008.

While Bell has a number of other notable credits, the majority of his most recent work consists of voiceover projects for Marvel animated television series like Ultimate Spider Man, The Avengers: Earth’s Mightiest Heroes, Phineas and Ferb: Mission Marvel, Avengers Assemble, and Hulk and the Agents of S.M.A.S.H. He’s also turned his focus toward his music career. Just last month, Bell released “Bitchcraft,” which is the first single from his upcoming album.

According to US Weekly, the unfortunate news of Bell’s finances comes shortly after his crass indignation toward troubled pop singer Justin Bieber. Bell took to Twitter with a message directed to Bieber sharing his disdain of the singer’s notorious run-in with the law over the infamous egging incident.

On Jan. 16, he tweeted, “@justinbieber instead of egging speeding around your neighborhood and defacing property like a little s–t you should practice your guitar!!” However, the tweet was deleted shortly after it was posted.

Image via Drake Bell, Wikimedia Commons