Michael Jackson Estate Desperate to Pay $300 Million Debt

Michael Jackson Estate Desperate to Pay $300 Million Debt-photo

Michael Jackson's estate is still $300 million in debt due to the late pop star's wild spending habits.

The estate made $200 million around the time of Jackson's death, enough to cover the initial debts the singer amassed, after a resurgence of interest in his music, but a $300 million loan from Barclays PLC has the Jackson family scrambling to refinance the debt before time is out and the estate is forced to sell some stake in Michael's music publishing company, Sony/ATV.

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