Why Jackson’s profligacy should be a warning to us all

The story of how Michael Jackson came to teeter on the brink of bankruptcy should serve as a warning to anyone considering an equity release scheme to fund lifestyle expenses.

20th May, 2006

The story of how Michael Jackson came to teeter on the brink of bankruptcy should serve as a warning to anyone considering an equity release scheme to fund lifestyle expenses. It is also a stark reminder that missing a few repayments on a bank loan can drive even the seemingly superwealthy into the hands of loan sharks, who will not hesitate to take advantage of their pressing need for cash by offering them new loans...

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