Gary Busey Files for Bankruptcy

Gary Busey has filed for bankruptcy after racking up debts of more than $500,000 (?312,500).

The Lethal Weapon star lodged the legal claim in a California court on Tuesday (07Feb12), revealing he has less than $50,000 (?31,250)-worth of assets to his name and owes at least 10 times as much to various creditors, including U.S. tax officials, the UCLA Medical Center, his bank Wells Fargo and his lawyers, reports TMZ.com.

Busey is also facing a possible pay out to Carla Loeffler, who sued the67 year old last year (11) amid allegations he knocked her to the groundduring an airport encounter in Oklahoma in May (11).