Joey and Chandie Lawrence found themselves in financial hot water recently following their filing of Chapter 7 bankruptcy last year. E! News obtained documents revealing that the couple had to file for bankruptcy in July of 2017.
Reportedly, the pair owes around $88,000 in back taxes as well as $132,000 in credit card debt. The total of what they owe is $355,517.27. In the documents, Joey states that throughout his thirty-five-year career as an actor, he has come to acquire a monthly income of nearly $7,000.
Chandie, on the other hand, is listed as unemployed. If reports are correct, Joey and Chandie came upon monetary problems when his television show was canceled in 2015.
The documents show a precipitous drop in income from the period of 2015 to 2016, as the actor made around $534,000 in 2015 and the following year a meager $58,000.
Fans will remember his short-lived series, Melissa & Joey. Network executives chose to end it after four seasons.
Additionally, the couple had to take to desperate measures including the selling of personal items like their clothing. The pair sold some of their merchandise on eBay and at Buffalo Exchange.
Reportedly, the court hasn’t confirmed if their motion to file bankruptcy is valid, but some of their debt has been alleviated. As for what items they sold, Joey and his wife got rid of wallets and purses for $463 and sold many articles of clothing to Buffalo Exchange for around $4,000.
The pair also had to say goodbye to their vehicles including a 2014 Bentley, a BMW, and a Ford Flex. His entrepreneurial dreams were crushed as well, as the former reality star had to drop his loan-out company, Veritas Inc., for a sum of $56,000.