14 DAY TRIAL // Aaron Carter has just joined the long list of celebrities filing for Chapter 7, bankruptcy in the hope of getting rid of creditors and starting fresh. TMZ has obtained his filing, which paints quite a disheartening picture of his finances.
Aaron, the younger brother of Nick Carter from the Backstreet Boys, has had a rougher and more troubled life than his more famous brother but, in recent years, he’s really turned everything around and started fresh.
The only thing he could not rid himself of, according to his publicist Steve Honig, was the massive debts he’s accumulated but, hopefully, filing for bankruptcy will help him with that.
Let’s talk numbers.
“According to legal docs, obtained by TMZ, Aaron's assets total $8,232.16 [€6092.93]. Here's the BIG problem. His liabilities total $2,204,854 [€1,633,951.15], which include a $31,166 [€23,111.61] AmEx bill. Aaron – who was a huge pop star and is still on tour, even tonight – also owes $1,368,140 mil [€1,012,386] to the IRS,” TMZ reports.
Among the assets he owns, Aaron lists a flat screen TV, Apple products, music gear, some designer stuff like a Louis Vuitton backpack and a Brietling watch, and a dog. He says the dog has zero value.
“Aaron lists his average monthly income at $1,998.75 [€1,479.02]. As for his monthly expenses – $2,005 [€1,483.98], which includes $600 [€444.6] for food, $150 [€111] for clothes, and $65 [€48] for hygiene. He's currently living with a family member,” the report mentions.
Honig says for the same media outlet that this is the only way in which Aaron could ever get back on his feet because “the overwhelming majority of the debt he is asking to be discharged is from more than 10 years ago when he was a minor and not in control of his finances.”
In other words, he too is a victim of the child star curse, having worked hard from a young age to make a lot of money and seen very little of it in return.