​Gary Busey Bankruptcy: Actor Still Hasn’t Settled His Taxes

Author: Rob AdamsBy:
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December 3, 2012
Also: Bankruptcy, Gary Busey, Gary Busey Bankruptcy

Gary Busey’s bankruptcy has been settled but will still have to pay his taxes. The struggling actor claimed he was over $500,000 in the hole to creditors.

However, $451,297.33 of the $508,600.96 he owed was state and federal taxes, that he is still responsible for.

The bankruptcy judge discharged $57,303.63 worth of unpaid bills to creditors for Busey and will allow him to keep $26,000 worth of assets.

Busey told TMZ.com after the judgement, “When you have too much, it’s a good feeling to let go. My new hobby is just breaking even.”

Starting his career in the early 70’s, Busey has appeared in a large variety of films, most notably in the 1980s and 1990s in major action releases such as Lethal Weapon, Point Break, and Under Siege, as well as making guest appearances on Gunsmoke, Walker, Texas Ranger, Law and Order, and Entourage. He was nominated for an Academy Award for Best Actor in 1978 for his role in The Buddy Holly Story.

Gary Busey has struggled financially and legally since a 1988 motorcycle accident when he received some brain damage due to not wearing a helmet. Since the 90’s he has struggled with some drug issues and had been in court over a few domestic dispute incidents.

Busey currently has 3 film projects in the works and is planning on a second stint on Donald Trump’s “Celebrity Apprentice.”

The 68-year-old, twice divorced actor is now living with his girlfriend Steffanie Sampson. The two have a son, Luke Sampson Busey, who was born in February 2010.