Michael Jackson has defaulted on a $23 million loan and has failed to meet a November 15 deadline to pay $3.8 million to his former manager.
Debt.com has offered to save Jackson from more turmoil "in exchange for an official endorsement of the leading debt solution site." Jackson is closing in on a 90-day countdown to losing Neverland Ranch.
They say despite his publicist's claims, he is nowhere near paying off his debt and he is "virtually bankrupt."
"This is something we've seen time and time again from celebrities too proud to stay within a reasonable budget," said Todd Cook of Debt.com. "But I think it's safe to say that Michael Jackson has set a new precedent for truly and irreversibly ruining his life, shattering previously held records by such hard-falling celebs as MC Hammer, Boy George and Vanilla Ice."
Jackson has until January 19 to Save Neverland. "Paying off the $23 million loan is the most crucial move at this point," said Cook. "Michael Jackson needs to take a long, hard look at the 'Man in the Mirror' and accept that he needs more than just financial assistance. We are willing to hold his gloved hand and nurse him back to financial health in exchange for his endorsement."
Wednesday, December 05, 2007
Posted by Gabs at 2:20 PM