Report: 'Drake and Josh' Star Drake Bell Files for Bankruptcy

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It looks like there's no better time than now to get that Drake & Josh movie up and running.

One of the former show's stars, Drake Bell, reportedly filed for bankruptcy Wednesday, according to TMZ.

The site reported that the 26-year-old actor made $408,000 in 2012, but only $14,099 in 2013.

And although he still has an income of $2,820 a month, his expenses total around $18, 771.

According to the site, Drake is $581,000(!) in debt and reportedly owes back taxes.

Back in May, the thesp put his Los Angeles home up for sale for $1.4 million, Radar Online reported, which was in the process of foreclosure. That home is still up for sale.

Drake recently sparked rumors that a Drake & Josh movie was in the works when he tweeted a pic of himself with his former co-star Josh Peck, writing, "We are BACK!!! Who is ready for the new movie?!!! #drake&josh #drakeandjosh."

When asked about the supposed film a couple of days later though, Drake admitted it wasn't exactly gearing up for production.

"I would LOVE to make this new movie with Josh we just need you guys to go on all the social media outlets and make it blow up!!," he said in a Reddit interview.

When asked, "So it isn't being made as of now?," he said, "being written."

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