Aaron Carter Files for Bankruptcy

Aaron Carter Files for Bankruptcy

While Nick Carter continues to sing and dance with the Backstreet Boys, his brother Aaron Carter is facing some gloomy days. The 25-year-old singer has filed for Chapter 7 bankruptcy. Legal documents show that Aaron’s assets total $8,232.16. However, he owes more $2 million.

Aaron Carter rose to fame in the late 90s, after Nick found success with BSB. The beginning of his career was also the beginning of his financial troubles. His rep, Steve Honig, revealed in a statement:

“The bulk of the debt is from over 10 years ago when he was a minor and his money was being managed by other people. Most of that is an IRS tax debt. It’s very old debt from when his money wasn’t in his control. This is not recent problems that happened in the last couple of years, it’s going way back.”

The legal documents also reported Aaron’s monthly income as $1,998.75 and his monthly expenses are $2,005. However, the singer is currently on a 75-city tour. I’m not sure what he’s singing, but his rep claimed it was a sold-out tour.

Nick Carter has talked about the personal and financial struggles he faced early in his career. He seemed to place a lot a blame on his parents. They probably mismanaged Aaron’s small fortune as well. However, he’s $2 million in debt. Nick is doing well with BSB. They’re still making music and currently on a world-wide tour. If he wanted to, I’m sure he can help Aaron out a little bit. They’ve always seemed to have a close relationship.

Maybe it’s time for Aaron to head back into the studio. If he can sell out one venue, he must still have some fans out there… somewhere.

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