Drake Bell Files for Bankruptcy

02/12/2014 at 03:05 PM EST

Drake Bell Files for Bankruptcy
Drake Bell
Paul A. Hebert/Startraks
Drake Bell has filed for bankruptcy.

The actor, who starred on Nickelodeon's Drake & Josh and alongside Amanda Bynes in The Amanda Show, owes $1.597 million, according to documents obtained by PEOPLE.

Bell, 26, lists the value of his home at $1.575 million, according to the filing. He also claims he only makes $2,820 a month, and that his expenses are $18,771.

TMZ broke the news of his bankruptcy.

The actor, who has been on various TV movies and done voiceover work over the last few years, also has the films Jungle Shuffle and L.A. Slasher in the works, according to IMDB.com.

The last time he was in the news was under happier circumstances: as was one of three finalists on the TV competition Splash last May.

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