Gary Busey has filed for bankruptcy. In court docs, he revealed that he currently owes money to a number of law firms, the IRS, and to UCLA Medical Center.

He has less than $50,000 in assets and owes between $500,000 and $1 million. His rep released a statement saying,

As with many great American institutions, i.e., General Motors, American Airlines and many others who have utilized the strategic business tool called bankruptcy. Gary Busey’s filing is the final chapter in a process that began a few years ago of jettisoning the litter of past unfortunate choices, associations, events and circumstances that visited themselves upon this great American icon.