Actor Joey Lawrence from ABC Family comedy series "Melissa and Joey" arrives at the 2015 People's Choice Awards in Los Angeles, California January 7, 2015. (Reuters)
Talk about financial “whoas!”
Joey Lawrence and his wife’s finances became so dire last year that they started selling clothes and other accessories on eBay and at Buffalo Exchange, according to The Blast.
With the family’s expenses leaving them $18,000 in debt every month, the “Blossom” actor and wife Chandie Lawrence filed for Chapter 7 bankruptcy last July. Lawrence listed assets totaling about $44,000 and liabilities in excess of $355,000, the documents show.
The “Melissa & Joey” actor’s debts include $88,000 in back taxes, $132,000 in credit card debt, $32,000 for an unpaid loan, nearly $100,000 owed for automobiles and $54,000 in unpaid rent.
Lawrence noted that he earns about $4,100 per month and his wife is unemployed. The steep drop from his typical salary of about $500,000 is a result of ABC Family (now Freeform) canceling “Melissa & Joey” after five seasons in 2015.
He expects to land more acting roles in the future.
Their three cars, a Bentley, a BMW and a Ford Flex, have been repossessed.
Joey and his wife had their debt discharged but the bankruptcy is still pending.
This story originally appeared in the New York Post.
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