Jermaine Jackson -- I'm NO LONGER a Deadbeat Dad

Jermaine Jackson is FINALLY caught up with his back child support payments ... TMZ reports -- after coughing up roughly $80,000 to his baby mama.

As of January, Jermaine owed Alejandra Jackson $91,921 in unpaid child support -- but sources close to Jermaine tell TMZ, the former couple reached a settlement in April for an amount closer to $80k.

And get this, Jermaine actually paid the settlement amount IN FULL -- according to new court docs filed last week