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.
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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.]
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