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Michael Jackson Starts to Pay Off Debts

February 8, 2008 5:14 PM | Michael Jackson | Comments (0)

Michael Jackson is in some serious debt!  However, he has been taking steps for this huge debt situation.  Columnist Roger Friedman of Fox.com cites Santa Barbara County records that reveal MJ has finally satisfied a state tax lien on his Neverland Valley Ranch.  The total paid is a little over $600,000 including penalties and fees. The singer still owes $23 million on a defaulted loan taken against Neverland.

According to Roger Friedman of Fox.com, "Fortress Investments is now two weeks past its foreclosure deadline, which means it could start proceedings against Jackson at any time...Jackson, sources say, may have arranged for a time extension through his former (and maybe current) pal, Ron Burkle."


 

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