Drake Bell, the star of Nickelodeon's "Drake and Josh" is going through hard times as the actor has recently filed for bankruptcy, TMZ reports. According to his records, the actor is in debt in the amount of $581,000.

The actor has listed the value of his Los Angeles home at $1.575 million, but he still owes $1.597 million. Back in 2013, an article on Zillow reported that his home is in the process of foreclosure and is valued lower than what the actor paid for it in 2007.

Aside from this, Bell only raked in $14,099 last year, a gigantic plunge from his $408,000 earnings in 2012. The actor is in dire need of financial counseling given the fact that he is currently earning $2,820 a month, but with a monthly expense of $18,771. It's mind boggling how the actor managed to pull off that earnings-to-expenses ratio.

Maybe his on-screen brother Josh Peck can bail him out since he's doing pretty good in his acting career.

But Bell denied TMZ's bankruptcy report through a tweet. According to the Daily Mail, the actor wrote, "Sweet! Finally TMZ has printed false statements about me!! Hahaha"

Bell recently gained publicity after attacking Justin Bieber on Twitter due to the pop star's problems involving the law. He tweeted, "Hey @justinbieber how much are you paying Lil Za to take the coke wrap for ya? Be a man and take responsibility. Learn to be an adult!" This was shortly followed by the post, "@justinbieber instead of egging speeding around your neighborhood and defacing property like a little s--- you should practice your guitar!!"   

He even asked his fans and followers to support the petition to have the singer deported back to Canada. He tweeted, "Become part of the movement!!" which was accompanied by a link of the petition.