Gary Busey Filed For Bankruptcy

Gary Busey just filed for bankruptcy and according to court documents, he is seriously broke. He claims that he only has $50,000 in assets and is about $1 million in debt. His rep said, "Gary's filing is the final chapter in a process that began a few years ago of jettisoning the litter of past unfortunate choices, associations, circumstances, and events."

But Gary, of course, acts like he’s oblivious to what’s going on around him. TMZ caught up with him in Malibu on the day that he filed. He refused to comment on the situation but was dancing like a fool to his favorite song, “You’re still the one” by Orleans.