Joey Lawrence files for bankruptcy


Joey Lawrence and his wife reportedly filed for bankruptcy last year (17).

The former Melissa & Joey star and wife Chandie, who share two children, filed for Chapter 7 bankruptcy in July, 2017, and court documents obtained by The Blast showed that the actor was ending up $18,500 in the red every month due to monthly expenses totaling $25,500.

In the documents, he claimed his assets totaled around $44,000 and his liabilities came to $355,500, and he had debts including $88,000 in back taxes, $132,000 in credit card bills, $32,000 for an unpaid loan, nearly $100,000 owed for cars and $54,000 in unpaid rent.

He also said he only had $60 in cash and $8,000 in the bank. According to the documents, he receives just over $4,000 in monthly income and $2,500 in residuals, while his wife is unemployed.

Before they filed for bankruptcy, they reportedly sold some of their accessories, clothing and furniture and had three cars repossessed.

In January (17), a trustee filed documents declaring they had sold his company Veritas Inc. at auction for $56,000 and the buyer will receive all residuals, royalties and other income the former Blossom star was set to receive for work prior to his bankruptcy filing.

The couple has had their debt discharged but the bankruptcy is still pending.