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Thread: Nickelodeon Star Drake Bell Goes Bankrupt

  1. #1
    Elite Member Seth82's Avatar
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    Default Nickelodeon Star Drake Bell Goes Bankrupt

    Nickelodeon Star Drake Bell Goes Bankrupt | TMZ.com

    NICKELODEON'S DRAKE BELL


    BANKRUPT




    Drake Bell -- a huge Nickelodeon child actor who starred in "Drake & Josh" -- has filed for bankruptcy ... TMZ has learned.

    The 26-year-old actor just filed legal docs, claiming he's in the hole to the tune of $581,000.

    As for the breakdown, Bell lists the value of his house at $1.575 million. The bad news -- he's underwater, owing $1.597 mil.

    Bell says he's only pulling in $2,820 a month, but his expenses total a whopping $18,771.

    The fattest year Bell lists is 2012, when he made $408,000, but the next year he made an anemic $14,099.

    And Bell owes a bunch of loot in taxes.



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  2. #2
    Elite Member southernbelle's Avatar
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    The most money he's ever made was $408,000/year, but he bought a $1.575 million house??? It's hard to feel sorry for him. It sounds like he was just throwing his money around... not even his money, but money he didn't even have but assumed he would rake in from being a huge star. And then he was hit with the reality that, like most Nickelodeon kid stars, he was a flash in the pan. Nickelodeon doesn't promote their child actors and turn them into multi-million dollar machines like Disney does. Once your Nick show ends, you're on your own.

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    Elite Member JadeStar70's Avatar
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    Awww,...I like Drake, and loved him and Josh Peck on their show. Doesn't sound like he made very good decisions with his money. I bet that is why he went on Splash last fall...lol
    southernbelle likes this.

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    I don't feel sorry for him at all.

    It's simply a case of being delusional. Thinking that the money would forever come in. When that rarely is the case for child stars. Or hardly any adult actors either.

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    Elite Member Mel1973's Avatar
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    yeah, he looks like a low-rent, blemished shia ladouche. ick
    Kill him.
    Kill her.
    Kill It.
    Kill everything... that IS the solution!
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    Elite Member JazzyGirl's Avatar
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    I do believe I have seen old Drake and Josh on a syndicated type channel...like Boomerang, or one of those odd ball Nick sites... I wonder if he gets any royalties.

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    Elite Member Pinkii's Avatar
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    Seems like every celebrity is becoming Bankrupt these days, I am a bit cynical and a part of me thinks they file for bankruptcy as an easy way out of paying the tax man!

    Also never thought Josh Peck would become the hearthrob later on, he looks amazing now! Drake on the other hand.. has not aged well
    "I don't know what hammer time is, or how it differs from regular time"

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    Quote Originally Posted by Pinkii View Post
    Seems like every celebrity is becoming Bankrupt these days, I am a bit cynical and a part of me thinks they file for bankruptcy as an easy way out of paying the tax man!

    Also never thought Josh Peck would become the hearthrob later on, he looks amazing now! Drake on the other hand.. has not aged well
    Filing doesn't automatically absolve you from paying tax debt. Certain kinds of tax debt are not dischargeable and others will be placed on a payment schedule.

    The most money he's ever made was $408,000/year, but he bought a $1.575 million house??? It's hard to feel sorry for him. It sounds like he was just throwing his money around... not even his money, but money he didn't even have but assumed he would rake in from being a huge star. And then he was hit with the reality that, like most Nickelodeon kid stars, he was a flash in the pan. Nickelodeon doesn't promote their child actors and turn them into multi-million dollar machines like Disney does. Once your Nick show ends, you're on your own.
    Frankly, buying a home 4x your income is not unheard of. Much like the average American one of the reasons why so many foreclosed. The recommendation is 2-3x times annual income with 20% down.

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    Elite Member Butterfly's Avatar
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    My son grew up watching Drake & Josh...he was a cute kid, a good leading kid for kid shows. He didn't grow up to be the leading man he thought he would be...blew through money that he thought he would make 10 times over.

    In 6 months we will probably hear about him being in rehab or dead from drugs.
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    Elite Member JadeStar70's Avatar
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    I bought my daughter the dvds of the series years ago, and we still watch them occasionally. They make me laugh.

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