They also have a £600,000 tax bill due by the end of the month, bringing about rumours that they may be forced to sell their prize assets.
Schmeichel, though, says he is confident the club can find the necessary funds to recover from such negative equity.
"The day they come and tell me 'we don't want you', I'll have to look at it but until that happens then I'm a Notts County player and there's nothing else to say," he told the Nottingham Post.
"Up to now I've enjoyed all of my time here so until somebody tells me otherwise that is the way it's going to stay."
The Dane insisted that he will carry on as normal in between the posts until he is told otherwise.
"I'm a footballer, I'm not a member of the board," he said. "I leave all of the other stuff to the people above us to sort out.
"I believe what Sven (Goran-Eriksson) and (chairman) Peter Trembling tell us. If they come and tell us in the dressing room that there is a big problem then we will believe it and we'll start to worry.
"Until that happens it doesn't worry me at all."