Actor Gary Busey Files For Bankruptcy

This isn’t the first Hollywood actor to step foot into bankruptcy court over the years. Despite numerous acting gigs and a spot on the show Celebrity Apprentice, Busey has struggled to resolve his debt liabilities.

Unbalanced Finances

According to the Los Angeles court records, Gary Busey is seeking bankruptcy protection over an estimated $50,000 in assets, while he listed nearly $500,000 in debts. The 67-year-old actor has starred in over 70 movies, but has too many IOUs to be considered financially stable.

It is reported that Busey owes back taxes, lawyer fees, mortgage debts and a pile of medical bills from UCLA Medical Center. Listing over a dozen creditors the actor is reportedly using bankruptcy as a measure to regain control over his personal success. His rep says, “Gary’s filing is the final chapter in a process that began a few years ago of jettisoning the litter of past unfortunate choices, associations, circumstances and events.”