American pop singer Aaron Carter has gone belly up forcing him to file a bankruptcy petition to get rid of more than $2 million debts, mostly taxes the singer owed during his early age of making tons of money being a huge pop star.
Legal records reveal that Carter’s total assets amount to $8,232.16. But he's now screwed-up with his liabilities totaling to $2,204,854 including a $31,166 AmEx bill. He even owes the U.S. government for not paying taxes to the Internal Revenue Service of $1.3 million back in 2003.
According to his bankruptcy petition, Carter is left with very little to show for his early success. He stated that he had just $60 cash in his wallet and $917 in his checking account when he signed the petition last month. Even his bank savings account held just $5.
Carter’s assets list only include a 61" flat screen worth $500, 2 MacBooks, 2 Headset Mics, a Mini Keyboard, Portable Beats, a speaker, a guitar, $60 in cash, Louis Vuitton backpack, a duffle bag and a printer worth a total of $2,500. And he owns a Brietling watch worth $3,750. The sad thing is that he included in the list his dog which he values nothing.
The singer stated his average monthly income at $1,998.75. And for his monthly expenses - $2,005, which includes $600 for food, $150 for clothes, and $65 for hygiene. Currently, Carter is living with a family member in Port Richey, Florida.
Carter publicist Steve Honig told CNN that this is not a negative thing. "It's actually very positive. It's him doing what he needs to do to move forward," he said. "The bulk of the debt is from over 10 years ago when he was a minor and not in control of his finances," Honig said. "This has happened to a lot of people who had fame at such at a very early age."
Legal records reveal that Carter’s total assets amount to $8,232.16. But he's now screwed-up with his liabilities totaling to $2,204,854 including a $31,166 AmEx bill. He even owes the U.S. government for not paying taxes to the Internal Revenue Service of $1.3 million back in 2003.
According to his bankruptcy petition, Carter is left with very little to show for his early success. He stated that he had just $60 cash in his wallet and $917 in his checking account when he signed the petition last month. Even his bank savings account held just $5.
Carter’s assets list only include a 61" flat screen worth $500, 2 MacBooks, 2 Headset Mics, a Mini Keyboard, Portable Beats, a speaker, a guitar, $60 in cash, Louis Vuitton backpack, a duffle bag and a printer worth a total of $2,500. And he owns a Brietling watch worth $3,750. The sad thing is that he included in the list his dog which he values nothing.
The singer stated his average monthly income at $1,998.75. And for his monthly expenses - $2,005, which includes $600 for food, $150 for clothes, and $65 for hygiene. Currently, Carter is living with a family member in Port Richey, Florida.
Carter publicist Steve Honig told CNN that this is not a negative thing. "It's actually very positive. It's him doing what he needs to do to move forward," he said. "The bulk of the debt is from over 10 years ago when he was a minor and not in control of his finances," Honig said. "This has happened to a lot of people who had fame at such at a very early age."
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