Is 'Chrisley Knows Best' Star Facing Financial Trouble?

The USA network's hit reality TV show "Chrisley Knows Best" features Todd Chrisley's family as they live a lavish lifestyle while following traditional values.

Recent reports are raising questions about how much of the reality show's glitz and glamor is real.

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Court documents show Chrisley filed for bankruptcy in 2012, listing his assets at $3.5 million and debts at $49.5 million.

The documents also reveal that Chrisley claimed as personal property only $70,000, including $100 cash on hand at a property listed in Florida.

On the show, Chrisley claims to have an extensive closet in the family's 30,000 square foot Atlanta mansion featured so prominently in the show.

"In a year we probably spend about $300,000, sometimes more, on clothing," Chrisley says in one episode.

In the court documents, however, Chrisley estimates the value of his "wearing apparel" at $650.

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According to Radar Online, Chrisley's wardrobe has caused the bankruptcy filing to come into question after the trustee handling Chrisley's case accused the reality star of failing to reveal the full contents of his designer wardrobe.

In a statement, Chrisley says the show is "an accurate representation of our life."

According to a reporter for People magazine, which first reported the story, the bankruptcy filing may not hurt the reality show's ratings.

"As fun as it is to watch them spend lavishly, their personality is really what keeps viewers coming back," said People's Carlos Greer. "The fact that they may not appear to be who they really are, I don't think it's going to hurt ratings or keep people from watching."

The USA Network announced Monday it is renewing the show for a second season.