Former Pop Music Star Aaron Carter Files for Bankruptcy Help
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Former Pop Music Star Aaron Carter Files for Bankruptcy Help

December 12, 2013


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Former child star Aaron Carter is filing for personal bankruptcy to unload more than $2 million in consumer debt, according to a report this week from CNN.

Sources say most of Carter’s debt is due to unpaid taxes from the era when he was making millions as a teenage pop star.

The federal government is reportedly Carter’s biggest creditor, as it’s owed roughly $1.3 million in back taxes from the money Carter owned in 2003, when the singer was just 16 years old.

But Carter’s publicist, Steve Honig, says the bankruptcy is "not a negative thing" and that it’s "actually very positive" and represents "him doing what he needs to do to move forward."

Honig also told sources that the "bulk of the debt is from over 10 years ago when he was a minor and not in control of his finances," and he (correctly) noted that similar financial issues have "happened to a lot of people who had fame at such at a very early age."

According to sources, Carter is currently in the midst of a 75-city tour of the country, but the tour will end in December, and Carter only makes about $2,000 a month for his performances. When he's not touring, Carter reportedly lives with a relative in Florida to save money.

Two years ago, Carter, who also acted in an off-Broadway play last year, dealt with substance abuse problems and spent some time in a rehab program, but he has been "completely clean for quite some time" and is "going in the right direction," according to Honig.

Sadly, though, Carter doesn’t have much to show for his early stardom, if his bankruptcy petition is to be believed. At the time of his filing, Carter only had $60 cash in his wallet and $917 in his checking account. His savings account had a piddling balance of just $5.

And his personal property won't provide much for the bankruptcy trustee to sell. It reportedly includes a television, a cell phone, a watch, two laptops, a guitar, and a Louis Vuitton backpack. All told, his assets only amount to about $8,200.

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