Busey Massive Debt: Gary Busey Emerges From Bankruptcy In Massive Debt

Actor Gary Busey officially closed his bankruptcy case this month.





Despite wiping over $50k in debt from his name, he is still in massive debt over $450,000.

According to legal documents, Gary 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, such as banks, utility companies and doctors.

The bad news is that - according to documents -  Gary still owes $451,297.33 in state and federal taxes, which are not eligible to be cleared.

Conclusion: Just because Busey's case is closed, that doesn't mean he hasn't still got major economic problems.




If you wonder what Busey says about his money problems,  Busey reveals: "When you have too much, it's a good feeling to let go. My new hobby is just breaking even."

What do you think? Will Gary Busey get rid of his massive debt?

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