Actor Joey Lawrence, who has worked professionally since he was six, fell into such severe debt that he and his wife sold the clothes off their backs in an effort to make ends meet.
His latest TV stint on Melissa & Joey ended in 2015, after which his finances steeped into decline and he was left over $355,000 in the red.
Lawrence, 41, and his family sold their furniture, purses, wallets and even clothes in a last ditch attempt to pay off bills before he and wife Chandie Yawn-Nelson filed for Chapter 7 bankruptcy in July.
Blossom’s Joey Lawrence has filed for bankruptcy after falling $355k into the red following the end of Melissa & Joey; he is pictured with his wife Chandie in 2013
It’s over: With Melissa Joan Hart on the set of Melissa & Joey, which was cancelled in 2015
Hustle: The actor sold $4,000 in clothes in a last-minute effort to pay their mounting bills
While Lawrence’s assets totaled $43,907.32, he owed a whopping $355,517.27 in taxes, rent and credit card bills.
The couple hustled for cash wherever they could, from selling furniture to a consignment store for $1,836.70 and selling their clothes to a second hand store for $4,325.10, according to court documents obtained by The Blast
The couple even posted items on eBay.
However this did little to help, with Lawrence bringing home just $6,966 a month in earnings and residuals, but facing $25,505.35 in expenses.
His bankruptcy is an eerie echo to his Melissa & Joey character – which lasted for five seasons – where he played a former commodities trader who lost everything and also became steeped in financial woes.
Their documents reveal that the couple, who have two children, were in the red $18,000 a month.
The family encountered financial difficulties after Melissa & Joey ended.
Family: The couple, seen in 2010, have two children together
Child star: The actor as Joey Russo on the set of Blossom; he has been working professionally since he was six
On the show he received a reported income of $534,000 in 2015.
The following year it was $58,000.
The shortage of income was not enough to meet their family’s $13,500 monthly rent payments.
Lawrence and Yawn-Nelson owe $88,000 in back taxes, $132,000 in credit card bills, $32,000 on an unpaid loan, $100,000 for their cars and $54,000 in unpaid rent, according to the filings.
The couple reportedly turned to bankruptcy after they fell behind on their rent payments and their three cars – including a Bentley and a BMW – were repossessed.
In January of this year court documents were filed stating that Lawrence’s company, Veritas Inc had sold at auction for $56,000, giving the buyer the rights to all royalties and residuals for his work prior to the bankruptcy filing.
The debt was discharged by the court, although the bankruptcy remains pending.