Michael Jackson Is Really, REALLY Broke

Michael Jackson's financial situation is getting worse every day and he's not doing anything to fix it. According to Roger Friedman in his Fox 411 column, Jackson has 90 days to pay back a 23 million dollar loan or he will lose Neverland, which he used as collateral. Right now Michael is living in an expensive rental in Washington DC and Neverland is vacant.

Last summer Michael tried to weasel out of contracts he signed by claiming he was under the influence of prescription drugs. We wonder if Mickey Fine Pharmacy in Beverly Hills, who also sued Michael, ever got THEIR money. Somehow we doubt it. Insiders are speculating that Michael might file bankruptcy in the next 90 days.