The award-winning actor claims he has had to sell off some of his belongings in order to pay for his debt.
In a set of legal documents he accuses his former managers of fraud and negligence and is asking for $25 million in damages.
But the cash won't come easy as his managers are counter-suing him, claiming the actor's financial mistakes are his own fault.
The management company who worked for him for 17 years say Depp blew through $2 million a month on his 'selfish, reckless and irresponsible lifestyle'.
The actor, who's earned $650 million, told the Wall Street Journal: "It's my money. If I want to buy 15,000 cotton balls a day, it's my thing."