67-year old actor Gary Busey filed for Chapter 7 bankruptcy in California yesterday.  Busey has appeared in more than 70 films, but most recently has been taking to reality television shows like “Celebrity Apprentice,” “Celebrity Rehab,” and “Celebrity Wife Swap.”  In a statement released by his publicist, Busey compares his bankruptcy to that of General Motors and American Airlines, and says that filing for Chapter 7 bankruptcy gives him a “new and clear path toward peace, happiness, and success with his career.”

Bankruptcy documents show that the actor has debts of $500,000 to $1 million and assets of less than $50,000.  Busey names several creditors in his filing, including the IRS, L.A. County Waterworks Districts, UCLA Medical Center, Wells Fargo, and some of his lawyers.  Some reports suggest that the actor may also owe money to a woman who claims he attacked her at an airport in Tulsa.

Contact the Chicago Chapter 7 bankruptcy lawyers of the Law Offices of Stuart B. Handelman, P.C. at 312-360-0500, if you or someone you know would like to learn more about the advantages of filing for Chapter 7 bankruptcy.