Former child star Drake Bell is disputing reports suggesting he has filed for bankruptcy.

The former Drake & Josh actor/singer was said to have lodged legal papers in a U.S. court citing debts of $581,000 (£363,125).

According to, Bell stated he only earns $2,820 (£1,763) a month, but his expenses have snowballed to a massive $18,771 (£11,732) a month, while he also owes money in taxes.

However, the 27 year old took to his blog shortly after the story surfaced online on Wednesday (12Feb14) to laugh off suggestions he is suffering money woes, writing, "Sweet! Finally Tmz has printed false statements about me!! Hahaha".