It’s true!
So many people have dreams of becoming famous, most likely for the abundance of money that usually comes along with it. As proof from Gary Busey, who starred in over 70 films, no matter your income, it is always critical to stay responsible with your finances. Sometimes things happen in life, however, that we cannot control. In times like these, there is help thanks to Ralph A. Ferro, Jr. Esq. who can help ease the stress of bankruptcy. There are numerous kinds of bankruptcy and it advised that one talks to a professional to figure out the best possible path for the future.
On Tuesday, the 67-year-old Busey filed for Chapter 7 bankruptcy. He claims he has less than $50,000 in assets. It goes to show that things are not always perfect in the limelight! With such limited assets, Busey has no options in terms of paying his liabilities of over $500,000. These liabilities include debts owed to institutions like the Internal Revenue Service (IRS), Wells Fargo, L.A. County Waterworks, and perhaps eventually a woman who Busey allegedly attacked in a Tulsa airport last May.
Even with reduced assets and large amounts of debt, Busey may not have to lose his personal property. Issues like that of personal property are discussed with your attorney to determine the best course of action in the given circumstance.
Believe it or not, it is not all said and done for the actor because in due time he will be able to improve his credit rating. All is not lost when filing for bankruptcy because it is attorneys like Ralph A. Ferro, Jr. Esq. that can get you back on your feet again with a new beginning.
This action was “the final chapter” in a long process by Busey to get his affairs in order. Only time will tell if the actor can get back on track for a solid financial future.