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By Dana Flax

In a statement released to "Access Hollywood," Pamela Anderson is denying reports released last week that she's fallen $1.1 million in debt.

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"These reports are crazy and I cannot believe this has become a media issue," Anderson said in the statement. "I am actually touched at how much concern has been expressed for me over this."

The statement continues, "It is true that I am in a dispute with some of the contractors working on my home. This is because after paying millions of dollars to build the house I continue to get bills from the contractors. My lawyers are reviewing the work done to see if the bills are fair. If they are, they'll be paid. If they aren't, they won't be. I am just sorry this contractor went to the press, especially when I was working out of the country. I did not speak publicly about this before because I had no desire to embarrass anyone who worked on my home and whose work and bills are now part of arbitration."

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Anderson also addressed reports that she owes the state of California more than $200,000 in back taxes and penalties.

"On a separate issue, mistakes may have been made in calculating taxes owed and we are now in the process of ensuring that any taxes owed are paid. Unfortunately there are tax liens," she said. "However, I'm financially secure and I want to thank everyone who expressed concern for me based on these rumors."

Whether the reports are true or not, we hope Pamela's dream team is able to sort everything out in a timely manner.

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