02/12/2014 at 01:00 PM EST
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.
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