We didn’t realize things were THAT bad for Joey Lawrence!
According to The Blast, in July 2017, the Blossom alum and his wife Chandie Lawrence filed for Chapter 7 bankruptcy, as the couple were in the red $ 18,000 every month!
In their court documents, the former child star listed his assets as $ 43,907.32 and liabilities as $ 355,517.27, consisting of $ 88,000 in back taxes; $ 132,000 in credit card bills; $ 32,000 for an unpaid loan; nearly $ 100,000 in unpaid car payments; and $ 54,000 in unpaid rent.
The 41-year-old’s monthly expenses totaled $ 25,505.35, which include $ 13,500 a month in rent; $ 1,281 on water and sewer bills; $ 2,400 on food and housekeeping supplies; $ 1,000 on entertainment; and $ 2,348 for one car lease; and $ 498 for a second.
Apparently, the actor only had $ 60 dollars in cash and $ 8,000 in the bank, with his monthly income listed as $ 6,966, $ 2,500 of which were residuals. For the year of 2016, he says he made $ 58,000.
In 2015, Lawrence made $ 534,000, as his show Melissa & Joey ended that year.
Before filing, Joey and his wife were forced to sell purses and wallets on eBay for $ 463, clothing to vintage store Buffalo Exchange for $ 4,325.10, and furniture at a consignment shop for $ 1,836.70.
Three of his cars — a 2014 Bentley, a 2016 BMW i8, and a 2105 Ford Flex – were repossessed.
According to documents filed on January 5, Lawrence sold his loan-out company, Veritas Inc., for $ 56,000.
Although the husband and wife had their debt discharged, their bankruptcy is still pending.
[Image via Brian To/WENN.]