As well as his child support bills, the Young Guns actor also owes millions to his lawyers, the IRS and in mortgage payments. A hearing has been scheduled for September.
Charlie was married to actress Denise Richards from 2002 until 2006 and actress and real estate investor Brooke Mueller from 2008 until 2011.
He also has a 33-year-old daughter, Cassandra, with his former high school sweetheart Paula Speert. The Platoon actor is currently dating Julia Stambler, 27.
News of the Anger Management star's financial woes comes six months after he put his Beverly Hills home up for sale for $10 million, 12 years after he splashed out $7.2 million on the seven-bedroom house.
The mansion has seven bathrooms and a number of special features, including two swimming pools.
Charlie's house could be ideal for a celebrity chef because it boasts a modern kitchen with top-end appliances and a walk-in pantry.
And those who prefer to do their cooking in the great outdoors will be pleased to note there is also a kitchen outside.
The pièce de résistance of the pad is arguably the master suite, which, as well as coming complete with a huge bedroom, has a separate sitting room, a second screening room and even a wet bar.