21 Bankrupt Celebrities – They Had It All And Spent Even More
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11. Gary Busey
Another actor that declared bankruptcy in 2012, which is apparently a very bad year for actors. Famous Joshua from Lethal Weapon could not trick his way out of $1 million debt. Nice round figure, but not so nice if you own only 50k.
Busey was hardly the highest-paid actor even during his heyday, but at least he was far from broke, which is pretty much what he is now. In 2012 the actor filed for Chapter 7 bankruptcy with over $500,000 in debt toward various creditors. His main creditor is the government – Busey admitted to owing $451,000 in federal and state taxes. When he filed for bankruptcy, Busey was absolutely unable to pay his debts to anyone, with his total assets being estimated to $26,000.
Among the documents he filed in the federal bankruptcy court, his assets include over 200 cassette tapes, 300 VHS tapes, 50 hardcover books, some faux-Native American art and jewelry (including a necklace with a yin-tang pendant – typically Native American) and five pairs of old moccasins.
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