Aaron Carter files for bankruptcy

Aaron Carter attends the Lionsgate and IM Global with The Cinema Society present the New York Screening of "Safe" after party at PH-D Rooftop Lounge at Dream Downtown on April 16, 2012, in New York.
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Aaron Carter has filed for bankruptcy.

TMZ reports that the 25-year-old singer has just $8,232.16 in assets, with his liabilities totaling $2,204,854. That includes a $31,166 credit card bill. Documents obtained by the site show he owes more than $1.3 million to the IRS as well.  

Among his listed assets are two MacBooks, a printer, a flat-screen TV, a speaker, a guitar, $60 in cash and a Louis Vuitton backpack. Carter even listed his dog, but with a value of zero. Meanwhile, his average monthly income comes in at $1,998.75, and his monthly expenses, including food, add up to $2,005. According to TMZ, Cater is living with a family member.

Carter’s rep Steve Honig said in a statement, "Aaron filed for Chapter 7 Bankruptcy protection to alleviate past issues in an effort to move forward with his life and career. 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."

Carter, who’s the younger brother to Backstreet Boy Nick Carter, did a rehab stint in 2011 and had been putting his life back together over the past couple of years. During a visit to CBSNews.com in February 2012, he said, “"It's not easy being in the entertainment industry, especially from the time that you're six years old until now. There have been times where it's been very difficult. I got to stay focused, stay on track and continue to embrace what I've been through and not ever forget it -- and be appreciative that I'm here today."

At the time, Carter was starring in the long-running off-Broadway show, "The Fantastiks." Since then, he had been performing shows and working on a new album.