Don’t be surprised if you see Gary Busey donning a dead president mask and robbing California banks like the surf crooks he hunted in Point Break. The Celebrity Wife Swap star has formally filed for bankruptcy.
According to TMZ, which obtained the official paperwork, Busey declared Chapter 7 bankruptcy on Wednesday. The documents reveal that Busey currently only has $50,000 in savings, and over $500,000 in debt.
“Gary’s filing is in the final chapter in a process that began a few years ago of jettisoning the litter of past unfortunate choices, associations, circumstances and events,” Busey’s rep told TMZ.
Apparently, Busey (who also recently appeared as himself on an episode of Two of a Half Men) has a high stack of IOUs to attend to, owing major money to assorted parties including the IRS, Wells Fargo, L.A. County Waterworks Districts, UCLA Medical Center and Carla Loeffler.
You may remember Loeffler as the woman who slapped Busey with a lawsuit back in May. She claimed that the actor knocked her down while trying to catch a flight at the Tulsa airport. Busey’s rep responded saying that his client had “no knowledge whatsoever” of the attack.
While Busey is mainly known for his drug- and drink-addled off-screen antics these days, he has quite the resume.
On the scripted TV side of things, he has acted on Gunsmoke, Walker, Texas Ranger and Law & Order. He has also played himself on The Simpsons and Entourage, and been on the reality shows Celebrity Rehab with Dr. Drew, Celebrity Apprentice, Celebrity Fit Club 2, Celebrity Paranormal Project and I’m With Busey.
He is also known for his film work, appearing in the big-screen adaptation of Fear and Loathing in Las Vegas, Lost Highway, The Firm and Rookie of the Year. He was nominated for an Academy Award for playing the title role in 1978’s The Buddy Holly Story.
His episode of Celebrity Wife Swap, in which he traded spouses with controversial evangelist Ted Haggard, aired on ABC at the end of January.
On the show, Busey noted that “in one of (his) past lifetimes (he) was burned at the stake as a female witch,” and introduced himself by saying, “I’m Gary Busey. Prepare for the best. Prepare for the worst. And expect the unexpected.”
If that’s not a perfect personal slogan, we don’t know what is.
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