Gary Busey has filed for bankruptcy, reports the AP. According to papers filed yesterday in Los Angeles, the Oscar nominee-turned-reality-TV regular has listed more than $500,000 in personal debts and less than $50,000 in assets. Manager Ron Sampson said in a statement that Busey filed the papers in order to forge “a new and clear path” to his future.

Busey made his name with an acclaimed turn in 1978’s The Buddy Holly Story but in recent years has seen his career skew more toward B-movies Piranha 3DD and reality shows including The Celebrity Apprentice, Celebrity Wife Swap, and Celebrity Rehab.

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