Corey Feldman’s Financial Crisis: Divorce, Debt, and Modest Earnings Revealed

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Corey Feldman, the musician and former child star who made a name for himself in iconic 80s films like The Lost Boys and Stand by Me, is currently facing a difficult financial reality. 

The 53-year-old actor, who rose to fame as a teen idol, is now embroiled in a contentious divorce with his estranged wife, Courtney Anne Mitchell. 

This legal battle has taken an unexpected turn, with both parties presenting starkly different financial pictures. Mitchell has claimed that Feldman is pulling in hundreds of thousands of dollars per month, but the court documents reveal a much bleaker financial situation for the actor. 

According to the information provided in the court filings, Feldman has just $34,000 in his bank account and owes nearly $200,000 in back taxes to the IRS. These revelations have drawn attention to Feldman’s ongoing financial difficulties and cast doubt on the lavish lifestyle his estranged wife has suggested he leads.

The Discrepancy in Income Claims

The central issue in this legal dispute is the amount of spousal support Mitchell believes she is entitled to. She has requested $5,000 per month, arguing that Feldman is raking in $280,000 per month.

However, in his defence, Feldman has provided a vastly different financial snapshot, which shows he has far less income than Mitchell claims.

 According to Feldman, he earned just $78,946 in 2023, a substantial difference from the $280,000 figure cited by his estranged wife. Much of his income comes from attending fan conventions, a source of revenue for many former celebrities who still engage with their fan base. 

Feldman participates in between three to six conventions each year, where he reportedly makes about $35,000 per event. However, this amount is not entirely his, as Feldman has to pay staff and cover other expenses related to the events, reducing the overall income he can keep.

In addition to convention appearances, Feldman has also turned to Cameo, a platform where celebrities create personalized video messages for fans. 

While some celebrities, like the late Gilbert Gottfried, have made millions from Cameo, Feldman’s earnings from the platform are far more modest. 

Over the course of eight years, Feldman has earned a total of $179,852 from Cameo, averaging around $2,500 per month. For someone like Feldman, who once had a thriving career, these figures are quite a far cry from what might be expected from a high-profile Hollywood star.

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Residuals and Other Sources of Income

Many former stars rely on residuals from their past roles to supplement their income. 

These payments come from reruns of TV shows or movies, as well as licensing deals for past performances. Feldman, however, does not benefit from such residuals. 

In his court filing, he clarified that he does not receive any significant residual income from his roles in films like The Lost Boys or The Burbs. This is particularly surprising given the lasting popularity of these films, which continue to be staples in pop culture. 

For Feldman, this lack of additional income further compounds his financial woes.

The Spousal Support Dispute

Currently, Feldman is paying Mitchell $2,000 per month in spousal support. However, Mitchell is seeking an increase to $5,000 per month. 

Feldman has pushed back against this request, arguing that Mitchell, who lives in Canada and benefits from the country’s national healthcare system, does not need the additional financial support. 

He also pointed out that Mitchell earns nearly $2,000 per month working as a barista, which adds to her own income. Feldman believes that the $2,000 per month he is already paying is sufficient.

The judge presiding over their divorce case will soon decide whether Feldman will be required to increase the spousal support payments, based on both parties’ financial situations. 

While Mitchell argues that her estranged husband has the ability to pay more, Feldman maintains that his financial reality is far from the lavish lifestyle Mitchell envisions.

IRS Debt and Other Financial Troubles

In addition to his ongoing legal battle over spousal support, Feldman is also dealing with significant debt. 

According to his court filings, he owes nearly $200,000 to the IRS, which adds another layer of complexity to his financial situation. 

Tax debt is a major burden for many people, and for someone like Feldman, who is already living paycheck to paycheck, the pressure of owing such a large sum to the government is enormous. 

This debt, combined with his relatively low earnings, has made it difficult for him to maintain the lifestyle that many may assume he is living based on his past success.

Corey Feldman’s Changing Career Landscape

Feldman’s financial challenges highlight a larger issue that many former child stars and entertainers face as they age and transition out of the spotlight. 

While Feldman was once at the center of Hollywood, with a successful acting career and high-profile roles in popular films, his fortunes have dwindled over the years. 

The decline in his earnings, paired with mounting debt and ongoing spousal support obligations, paints a picture of a star struggling to maintain his financial stability. 

While Feldman is still active in the entertainment world, appearing at fan conventions and making money on Cameo, these sources of income do not provide the same financial security that he once enjoyed as a leading actor in Hollywood films.

Conclusion

Corey Feldman’s financial situation reveals the stark reality of his life after fame. Despite once being a household name, the former child star is now struggling with mounting debt, limited income, and a contentious divorce. 

The revelations made in his court filings have opened a window into the financial difficulties he faces, and the ongoing battle over spousal support only adds to his troubles. 

As Feldman fights to keep his finances afloat, his case underscores the financial instability that can come with the fading spotlight of fame.

People May Ask

What is Corey Feldman’s current income?

Corey Feldman’s income in 2023 was $78,946, primarily from fan conventions and Cameo. He also stated that he earns about $2,500 per month from Cameo, and can make around $35,000 per convention, though he has to cover staff and other expenses.

How much does Corey Feldman owe the IRS?

Corey Feldman owes approximately $192,000 to the IRS, which is one of the major financial burdens he is currently dealing with.

How much spousal support is Corey Feldman paying his ex-wife?

Currently, Feldman is paying his estranged wife $2,000 per month in spousal support. However, his ex-wife, Courtney Anne Mitchell, has requested an increase to $5,000 per month, which is still under dispute.

Does Corey Feldman receive residuals from his movie roles?

No, Feldman has stated in court that he does not receive any significant residuals from his past film roles, including popular movies like The Lost Boys or The Burbs.

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Source: https://www.datos.org/corey-feldmans-financial-crisis/