As TMZ previously reported ... the broke-ass actor filed for chapter 7 bankruptcy back in February, claiming to owe a colossal $500k plus to creditors.

Sources tell TMZ ... Busey is officially back on the employment bus -- he just booked a new scripted pilot, "Mr. Box Office," with Bill Bellamy (above) -- where the actor will play a science teacher who thinks he's an alien from another planet, named Cordar.

We're told Busey will be raking in around $4,500 per week -- per union rules -- playing the delusional, bonkers type character (which is sure to test his acting chops).

According to our rock-solid calculations ... it will take Busey at least 111 weeks of steady shooting to pay off his massive debt ... and that's if he doesn't spend a dime on anything else.

Looks like he'll have to settle for old moccasins and VHS tapes a little while longer.

We found Gary Busey, aka Chief Dances with Car, getting back to his roots in the middle of a real pow wow -- and he's putting the pressure on Harv to join his tribe! How? 

Broke ass Hollywood legend Gary Busey has officially passed the most important test of his life -- an online financial management course -- in an effort to convince a U.S. Bankruptcy court he'll stop blowing his cash on useless crap.

TMZ broke the story ... Gary recently filed for Chapter 7 bankruptcy in federal court in L.A. ... claiming he has more than $500,000 in debts ... and only a bunch of crappy assets to his name ... including 5 pairs of old moccasins, 2 small decorative teepees and 300 VHS tapes. 

Before the court will sign off on the perks of bankruptcy ... Gary was required to complete the finance class ... and he PASSED with flying colors!

According to the docs, Gary earned his official Certificate of Debtor Education on March 5, 2012 ... at 5:12 PM ... which means he's officially on the road to financial recovery. 

Now, Gary faces the same challenge as most graduates ... finding a job.

A rep for Gary tells TMZ, "Gary is excited for this fresh new start and wants to be an example for Americans all around that you can recover very quickly. Remember ... the Buseyism for Bankruptcy is: Bringing A New Knowledge Regarding Understanding Past Tribulations Concerning Yourself."

Gary Busey has virtually no money left from his once-thriving Hollywood career -- but he has amassed an impressive collection of worthless junk ... including a bounty of cassette tapes and broken instruments ... this according to new docs obtained by TMZ.

TMZ broke the story ... Busey recently filed for Chapter 7 bankruptcy ... and according to new docs Gary filed in federal bankruptcy court, Gary says he owes $508,600.96 in various debts.

According to the docs, Busey claims his main creditor is Uncle Sam ... admitting he stiffed the government out of $451k in state and federal taxes from 1998 to 2009.

Problem is ... Gary claims he only has $26,225 in personal assets ... including $1,200 in various bank accounts and a $7,000 security deposit with his landlord. Gary then lists EVERYTHING he owns ... including:

Entertainment -- 2 tvs, DVD player, old large tape recorder, small tape recorder, boom box, bookends, 50 hardback books, 100 compact discs, 300 VHS tapes, 100 DVDs, 200 cassette tapes.

Art -- painting of an Indian, old bull's head, 5 pairs of old moccasins, 2 small decorative teepees, 4 clay vases, Indian style bowls, small figurine of bald eagle, old bows and arrows.

More Native American Stuff -- Fabric strap with an attached eagle talon, beaded necklace with an attached arrowhead, bolero necklace with black and white ying/yang pendant.

Random Crap -- broken pellet gun, Rollerblades, 2 old surf boards, boogie board, old mountain bike, old Nikon film camera.

Instruments -- electric guitar, Collings SJ acoustic guitar, 12 string Guild acoustic guitar, Fender Stratocaster electric guitar, amplifier, J200 acoustic Gibson guitar, 2 tambourines.

Gary also says he rents a storage unit, in which he keeps old electronics, personal documents, Mother's furniture/piano and old broken drum sets.

In the docs, Gary says he still makes $19,730.71 per month ... but he SPENDS more than $22k per month on things like living expenses and daycare for his newborn son.

Gary's rep tells TMZ, Gary  "is following the example of many successful buisiness people such as Abraham Lincoln, Walt Disney, Donald Trump, Francis Ford Coppola, Larry King, and many more Americans who have also utilized the tool of Bankruptcy to gain a fresh start."

The rep adds, "Remember, the Buseyism for FAILING is: Finding An Important Lesson Inviting Needed Growth."

Gary Busey -- who's starred in more than 70 movies -- has less than $50,000 to his name ... and more than $500,000 in various debts ... this according to official documents obtained by TMZ.

67-year-old Busey filed for Chapter 7 bankruptcy in California yesterday. Busey checked the box showing he has less than $50,000 in assets ... and somewhere between $500,000 and $1,000,000 in various debts.

In the docs, Busey indicates he might owe money to everyone from the IRS ... to various lawyers ... UCLA Medical Center ... Wells Fargo ... L.A. County Waterworks Districts ... and a storage company.

He also notes that he might owe money to a woman named Carla Loeffler, who sued Busey for allegedly attacking her at a Tulsa airport back in May.

Interestingly, we shot Gary out in Malibu on Monday -- a day before he filed -- and he didn't seem all that fazed by the whole bankruptcy thing ... dancing his face off in a parking lot.



A rep for Gary tells TMZ, "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."

Gary Busey looked crazy as ever -- a total dancing fool in a Malibu parking lot -- but THIS time a closer look revealed ... there's a good reason for the crazy. This time.

Gary Busey got wasted and shouldered a 57-year-old woman to the ground at an Oklahoma airport recently ... in a mad sprint to board an airplane -- this according to a new lawsuit filed against the actor.

The woman -- named Carla Loeffler -- filed the lawsuit in L.A. County Superior Court, claiming she and Busey were waiting for the same flight at Tulsa airport back in May ... when Busey shouldered her without provocation.

According to Loeffler, Busey had been biding his time downing drinks at the airport ... and by the time their flight was called, he was completely faded.

Loeffler claims she was waiting in line on the jetway to board the flight -- and Busey barreled past her in an effort to cut the line, violently knocking her to the ground.

According to the lawsuit, Loeffler sustained injuries as a result of the takedown and she's now demanding unspecified damages. Attempts to reach Gary were unsuccessful.



3:00 PM PST: A rep for Busey tells TMZ ... "Gary Busey has no knowledge whatsoever of any of the alleged events reported, and has never been served with any alleged lawsuit, and has no idea of who this person is."

The rep adds, "According to Mr. Busey, this is nothing other than sleazy gossip and a cheap opportunistic attempt to extract some sort of monetary nuisance settlement from a celebrity, by a professional litigant who has a history of filing lawsuits and claiming personal injury."

And just like Justin Bieber, Busey claims he intends to turn the tables on his accuser and sue her right back for defamation and harassment. The rep continues, "Further, after dismissal and/or successful defense of this lawsuit, we shall file a malicious prosecution lawsuit against not only this fraudulent claimant, but her attorney as well."

Gary Busey was nominated for an Academy Award in 1978 for his portrayal of Buddy Holly... and this week he resurrected the role at a karaoke bar in Malibu.

Busey busted out a rendition of "Maybe Baby" at Cafe' Habana Wednesday night -- and the crowd went nuts.

Check out Busey tearing it up in "The Buddy Holly Story" back in '78 (below).

Las Vegas was even crazier than usual last night -- because "Celebrity Apprentice" star Gary Busey hosted his birthday party at Blush nightclub inside the Wynn Las Vegas.


You're only as old as you feel. 

"Starship Troopers" actor Jake Busey has completed his stint in rehab -- telling TMZ he's motivated to stay sober because, "The doctors told me I would DIE if I drank again."



Jake -- Gary Busey's son -- was outside a Starbucks in Santa Monica, where he told us about the 21 "awesome" days he spent at a rehab facility ... and revealed that he's been sober for 42 days!

Busey said he used to throw down 12 beers a day -- but he's optimistic about his sober future because, "I figure if my dad could do it, if Charlie [Sheen] could do it ... I could do it. Hell yeah, it feels good!"

Gary Busey is at the center of a new controversy after a woman allegedly complained about the actor's behavior on the set of his new horror movie.



Sources connected with the upcoming movie "Mansion of Blood" tell us, Gary had simply become too difficult to work with -- and was booted from the production after a woman on set complained about inappropriate comments Gary made.

According to sources, Gary had already finished shooting about half of his scenes -- so the script was rewritten ... and another actor filled in to shoot the rest.

Gary's rep tells us, "The situation was plagued by contractual issues and misunderstandings from the outset. Gary considers this episode concluded and has no further comment on the matter."

We contacted producers ... who DENY Gary was fired ... telling us, "Mr. Busey remains in the cast of the movie" ... and insist Gary has "committed no improper acts in connection with his role in the movie."