David Cassidy Bankruptcy -- I Think I Owe You! And Here's What I'm So Afraid Of ...

David Cassidy has sold over 30 million records, but he's broke as a joke now -- TMZ has learned he's mired in debt and just filed for bankruptcy.

David filed for Chapter 11 bankruptcy protection this week and has a laundry list of creditors to whom he owes hundreds of thousands of dollars.

His massive debts include $39,102 in credit card debt, a $292,598 mortgage against his house, and a very colorful bus load of attorney's fees.

In the docs, he also alerts the court he could have some horse expenses in the near future. David says he's in a legal dispute over several Thoroughbred horses he co-owns.