Sunday, 2 December 2012

Gary Busey Emerges From Bankruptcy in Massive Debt

Gary Busey
Emerges From Bankruptcy
In Massive Debt

EXCLUSIVE

1130-gary-busey-tmzThe Good News: Broke ass actor Gary Busey officially closed his bankruptcy case this month!!!!

The Bad News: Despite wiping over $50k in debt from his name -- he's still in the hole OVER $450,000.

According to legal docs, Busey -- who filed for Chapter 7 back in February claiming he owed over $500k to creditors -- was discharged from his bankruptcy on November 26. 

As part of the deal ... Busey got to keep all his assets (all $26k worth of them) and was able to free himself of $57,303.63 worth of debt to various creditors ... like banks, utility companies and doctors.

But the good news stops there ... because according to docs Gary still owes $451,297.33 in state and federal taxes, which FYI -- are NOT eligible to be cleared.

Translation: Gary's case is closed -- but he's still got MAJOR money problems.

And we reached out to Gary, who tells us, "When you have too much, it's a good feeling to let go. My new hobby is just breaking even."

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