Inside Joey Lawrence's Major Money Issues

Can you imagine going from making hundreds of thousands of dollars to earning nothing? Well, Joey Lawrence has lived it. Lawrence, who is most famous for his roles in the hit series "Blossom," is among the list of Hollywood entertainers who had struggled financially and lost much of the money they earned from the industry. The actor and musician started his career as a young boy, and by 1983, had landed himself a recurring role in the comedy series "Gimme A Break."

He has appeared in dozens of films and series all while releasing music, which contributed to his earnings. Adding to his success, he earned a starring role on ABC's "Melissa and Joey" in 2010, but after four seasons, the network canceled the show in 2015. Two years after the show was canceled, Lawrence and his then-wife, Chandie Lawrence — with whom he has two daughters — filed for bankruptcy, based on court documents obtained by The Blast, and they stated that they had begun selling their belongings to keep their heads above water.

The report indicated that the couple had a $355,517.27 liability, which included debts from loans and credit card bills. Their Chapter 7 bankruptcy also included $54,000 in back rent and about $100,000 in vehicular expenses. At the time of filing, the "Brotherly Love" actor said that his bank account had $8,000, though he only had $60 in cash.

Based on the documents obtained from The Blast, Joey Lawrence and his wife were spending over $18,000 more than they should have been each month. His income reportedly significantly dropped from $534,000 to $58,000 between 2015 and 2016, which caused three of his luxury cars to be repossessed. Oddly enough, though, in 2018 after the judge signed Lawrence's bankruptcy case, TMZ spotted him driving a newly released light blue Dodge Challenger, which at the time was being sold for at least $60,000. To make matters more confusing, the actor was driving away from an expensive restaurant in West Hollywood, which is not the likely option for someone experiencing a financial crisis.

Despite this being a terrible (and frankly contradictory) look, the actor did not make a public statement on what changed in his income to afford these expenses. Lawrence has not acted since his stint in "Melissa and Joey," but he is set to appear in the film "Diamond Rose" which will be released in September 2025. Since March 2021, Lawrence has had a $250,000 net worth, which is considerably less than other actors, but way more than the average American. Maybe selling his personal assets on eBay worked out in his favor!