Pamela Anderson is in Deep Debt [Photos]

Maybe Mitch Buchanan Will Save Her

Former Baywatch babe, Pamela Andeson, has been spending too much and has landed herself in a bit of hot water. The 42 year-old Canadian "actress" owes more than a million bucks to various people.

What's she been spending it on? According to People magazine, it's her dream Malibu beach home that's become a money pit (that's why she's renting it out for $50k a month). She's been renovating it non-stop and now owes $674,043 for "laber and materials to remodel the main house, construct a swimming pool and construct foundations for a guest house." Then there's the $252,360.39 in back taxes that she owes to California.

This isn't the first time that Pammy's been in arrears with the IRS. In 2009 she owed them $1.7 million and landed a coveted spot on the "Top 500 Delinquent Tax Payers" in California list.

READ: Pam Anderson's Playboy Cover Breaks Sales Record

How's she going to pay this off? There are reports that she's been trying to land a gig on Britain's reality show Dancing on Ice. Ouch.

More Photos »

More Photos »