Billy Ray Cyrus Is Panicked He Might Be Running Out of Cash Amid His 'Ugly Divorce,' Source Claims

Is Billy Ray Cyrus going broke?

According to a source, the “Achy Breaky Heart” singer, once worth a reported $20 million, is scared he could run out of money amid his divorce from Firerose.

“He lost $10 million last year,” the insider said of his pricey split from ex-wife Tish Cyrus. “Now he’s going through an ugly divorce.”

Back in May, Billy Ray filed for divorce from Firerose after they tied the knot in October. Both sides have claimed abuse in the legal battle that has yet to be settled. With the fees piling up, the finances are getting worse and worse.

“He likes to think of himself as a big celebrity, but sadly his bank account is draining, and he better get out there make some music,” the insider suggested.

“Most people don’t realize how dire things are for him,” they stated. “He could realistically be broke in 10 years.”

As OK! previously reported, Firerose added to some of Billy Ray’s money woes, as she allegedly spent $96,986.05 between May 23 and June 7, however, the judge has since banned her from using the Hannah Montana alum’s credit cards.

The paperwork read: "[There is] no legitimate reason for [Firerose] to have access to and to make any additional charges" on the cards.

The document also clearly stated that both parties must "exchange income and expense statements as well as asset and liability statements" by July 11 and participate in "good faith meditation" by August 31.

In addition to requesting the judge ban Firerose from spending his money, he also filed an emergency motion seeking a temporary restraining order.

“Upon learning of the fraudulent use of Mr. Cyrus' business American Express Card, American Express was notified, and the thirty-seven unauthorized charges are being disputed as fraudulent charges,” the filing said.

Despite appearing to be head over heels, another source revealed, “[Billy Ray] believes that [Firerose] married for other reasons but love.”

“He believes she married him so he can take care of her financially. They’ve had drama and trust issues about money. He wants her out of his life," they spilled.

Another insider dished how the 62-year-old is "more relieved every day that he's done with his marriage."

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"His instincts have been correct all along," they noted.

Star reported on Billy Ray's alleged financial issues.