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Gary Busey files for bankruptcy with less than $50,000 in assets

Posted on Wednesday, February 8th, 2012 at 8:20 pm    

Yesterday, a statement from actor Gary Busey’s publicist revealed that the actor had filed for bankruptcy. “As with many great American institutions, i.e., General Motors, American Airlines, and others who have utilized the strategic business plan of bankruptcy, Gary’s filing … is the start of a new and clear path toward peace, happiness, and success,” reads the statement.

The actor opted to file for Chapter 7 bankruptcy in California.  Busey’s filing lists assets of less than $50,000, leading many to wonder how the actor, who has been in more than 70 movies and, recently, several reality television shows, has not saved more.  The bankruptcy filing lists debts in the $500,000 to $1 million range, and names creditors like the IRS, Wells Fargo, UCLA Medical Center, and more.

If you are interested in learning more about how filing for Chapter 7 bankruptcy can help your current financial situation, contact the Joliet Chapter 7 bankruptcy attorneys of the Law Offices of Stuart B. Handelman, P.C. at 815-722-2201 to speak with one of our experienced bankruptcy lawyers today.