Gary Busey files for bankruptcy

By Bahiyah Shabazz, MBA

English: Gary Busey in Almaty, Kazakhstan in O...

Another celebrity bites the financial dust.  We’re aware that entertainers and athletes are not exempt from making mistakes, but filing for bankruptcy is becoming an epidemic.

Court records show Gary Buseyhas filed for bankruptcy and is listing more than $500,000 in estimated personal debts.

Busey’s filing on Tuesday in Los Angeles provides few details but includes more than a dozen potential creditors.

The actor and reality show star does not state a reason for the filing. His manager Ron Sampson wrote in a statement the filing provides Busey “a new and clear path” to personal and career success.

The filing states the 67-year-old has less than $50,000 in assets.

It’s time for celebrities to manage their funds better. Stop blaming their accountants, financial advisor and entourage for the mismanagement of funds.  In the end of the day, you are the responsible party.

Would you leave your newborn in the arms of a total stranger and only check on the baby once a year? Well, that’s what you are doing with your money. It’s your right and responsibility to be an advocate for your financial security.

Now that Busey will have “a new and clear path” we hope that his financial behavior changes. It doesn’t matter how many times you have a clean slate, if you don’t change your thoughts, habits and behavior it will be a continual malicious cycle.

Bahiyah Shabazz of Fabulous & Money Savvy™ will coach you to financial success. Give us a call!

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“Love yourself enough to support yourself.”

© SMG, LLC

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One thought on “Gary Busey files for bankruptcy

  1. It’s a shame to read about another celebrity abusing bankruptcy. What are they doing with all that money? If there’s a petition for him to sign up for your services I will sign it.

    I saw him on Celebrity Wife Swap. He should use that money toward a new beginning.

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