Stephen Baldwin Files for Bankruptcy

Stephen Baldwin has filed for Chapter 11 bankruptcy protection.

Federal court records in New York show that the actor owes $1.2 million on two mortgages on a property about 30 miles north of New York City that is valued at $1.1 million, according to the Associated Press. Baldwin also owes more than $1 million in taxes and has about $70,000 in credit card debt, according to the filing.

Check out pictures of Baldwin through the years

Baldwin's wife, Kennya, was also named in the filing made Tuesday.

Last month, Baldwin participated as a contestant in the NBC reality competition I'm a Celebrity...Get me Outta Here!,which took place in a Costa Rican jungle.

Find out which celeb won this year's I'm a Celebrity