Former Nickelodeon child star, Drake Bell, is in some financial trouble.

According to the Huffington Post, the former "Drake and Josh" star reportedly filed for bankruptcy, claiming to be $581,000 in debt. The actor reportedly earns $2,820 a month, but his expenses run up to $18,771 a month.

The 26-year-old actor is listing the value of his house at $1.575 million, and $10,500 in personal property, but has debts of about $1.597 million. Bell said he owes more than $46,000 to the IRS.

In 2012, the actor made $408,000, but made only $14,099 in 2013, according to documents obtained by People Magazine.

Bell is best known for his work on Nickelodeon sitcom "Drake & Josh," which ended in 2008. He has also been the voice behind several animated characters, including Peter Parker in the "Ultimate Spider-Man" TV series.

The actor will next be seen in the films "Jungle Shuffle" and "L.A. Slasher," also starring Mischa Barton, according to IMDB.com. Bell recently competed on the diving competition series "Splash."

In addition to acting, Bell has been focusing on his career in music, releasing the single "Bitchcraft" from his upcoming album.

The news of Bell's bankruptcy comes after his public bashing and criticism of pop singer Justin Bieber. Bell took to Twitter to comment on Bieber's recent troubles with the law troubles.

"@justinbieber instead of egging speeding around your neighborhood and defacing property like a little s--t you should practice your guitar!!" he tweeted on Jan. 16 and later deleted, according to People