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Gary Busey Files for Bankruptcy, Has Less Than $50,000

Gary Busey Headshot Walk of Fame - P 2011
Valerie Macon/AFP/Getty Images

The actor owes more than $500,000 to various creditors, but doesn't have the assets to cover it according to his Chapter 7 filing Tuesday.

Despite steadily working for the last four decades, Gary Busey doesn't have much money to show for his efforts. 

According to his Chapter 7 bankruptcy filing in California Feb. 7, the actor, who last appeared on ABC's Celebrity Wife Swap, has less than $50,000 in savings but owes between $500,000 and $1,000,000 in debt, TMZ reports.

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In the documents, Busey stated that he may owe money to the IRS, UCLA Medical Center, Wells Fargo bank, L.A. County Waterworks Districts, a storage facility, multiple lawyers and Carla Loeffler - the woman he allegedly attacked at a Tulsa airport in May of 2011. 

Busey joins a list of many in Hollywood who have fallen on tough times, including, TLC's T-Boz, media mogul Ted Field, and Real Housewives of NY's Sonja Morgan