Michael Jackson’s Credit Score Disaster

by Minority Fortune

mj3It has been reported by TMZ that Michael Jackson had a bad credit score. Just how bad was it?  Equifax: 592, Transunion: 524, Experian: 575. It was supposedly stemmed from the following:

– A derogatory public record or collection filed
– The amount owed on delinquent accounts
– Number of accounts with delinquency
– Too many inquiries in the last 12 months

However, the man behind these scores is Michael Jackson. He may be one of the only exceptions for a bad credit score. Why? Because for most individuals, good credit is a must for loans, credit, and large purchases. Michael had this privilege regardless of his credit standing. And we still fail to see how Michael has suffered or how his estate will suffer from his supposed “poor spending habits”. He lived a good life along with his kids. No credit score can reflect that.

We must admit that something doesn’t seem quite right about these scores. With all the resources Michael had, surely his attorneys were on his behind, complaining about his spending practices. While Michael did spend extravagantly, he didn’t bother with a lot of liabilities. He had legendary assets under his belt: Beatle’s and other classic artists’ masters, real estate, Sony Publishing catalog, art, etc. He bought things that accrued value. We don’t see the media giving him much credit for that. Thus, Michael’s low scores just make us question the media and those around him.

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