Montell Jordan, tells My Fabulous Style, in a statement released today that his taxes due to Uncle Sam have been paid. Jordan says he filed bankruptcy in 2004, due to a factors including, "unwise personal spending choices, external life circumstances, and being ill-advised by council about his finances". Montell, says " I have taken full responsibility for this life experience."
The singer says in 2006, he sold his music catalog to make good on his debts to creditors and the IRS. He says at that time the amount of $500,000 was paid directly to the Department of Trustees. Jordan says the bankruptcy was dismissed in September 2007, but the case has remained open for negotiations with the IRS regarding penalties and interest fees. Jordan says the funds have been in the possession of the Trustees for 5 years and they have received a total of 617,460.33 on his behalf.
Jordan confirms the IRS recently re-issued the previous liens to insure their claim with the Trustees will be dispersed in the upcoming weeks. Jordan says:
"After a long and difficult 8 year long life journey, this case is set to be closed following a hearing scheduled for May 1, 2012. Upon the conclusion of this hearing, the Trustees will be administering the finances as they have determined."