American Actor Gary Busey Filed For Bankruptcy In 2012: What Is His Current Net Worth?

When we think of celebrities, we automatically think of their luxurious life  Unfortunately, some of them do not get to enjoy such a lifestyle due to their extravagant spending habits. 

Do you still remember Lethal Weapon star, Gary Busey? Well, the 75-year-old actor filed for Chapter 7 bankruptcy back in 2012. He was pronounced bankrupt in 2012 and joined the bankrupt celebrities clan after he allegedly failed to pay his debt to his creditors. 

How Did Gary Busey Go Bankrupt?

Despite a career of over 5 decades, Gary Busey is currently worth $1 Million as per Celebrity Net Worth. 

Busey filed for Chapter 7 bankruptcy back in 2012 revealing that he has less than $50,000 in assets while his debts were somewhere between $500,000 to $1 million. 

Busey’s bankruptcy credit goes to his rampant drug use and unfiltered behavior on reality shows. His creditors list multiple lawyers, Santa Monica UCLA Medical Center, the IRS, Wells Fargo bank, L.A. County Waterworks Districts, and a storage facility.

Moreover, he also owed money to Carla Loeffler: the woman he allegedly attacked at a Tulsa airport in May 2011. 

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What Happened After Gary Busey's  Bankruptcy? 

As per Daily Mail, Busey settled his case in late 2012 and was not required to pay his debts to the creditors. 

However, he still owed around $451,297.33 to the state and federal taxes as they are not eligible for discharge in bankruptcy court.

Hopefully, actor Gary Busey might have cleared his debt to the state as of 2019 (after 7 years of bankruptcy).

Gary Busey’s Career Of 45-Year

Academy Award-nominee Gary Busey is a legendary actor with over 150 films acting credit. His most notable film work credit includes Predator 2, Point Break, Under Siege, Piranha 3DD, and Bounty Killer.

Prior to his successful acting career, Busey was a drummer in The Rubber Band. He also played in a band called Carp and released one album on Epic Records in 1969. 

He rose to prominence in 1974 from a supporting role in Thunderbolt and Lightfoot which stars Clint Eastwood and Jeff Bridges.

In 2014, Busey became a celebrity spokesperson for Amazon Fire TV. The same year, he became the first American winner of the 14th series of the UK version of Celebrity Big Brother.

Recently in 2018, Busey appeared in the television show The Last Sharknado: It’s About Time and Impractical Jokers’ episode “The Marathon Man”.