Aaron Carter broke and no longer has to pay any of his debts because a bankruptcy judge helped him out.
Reportedly, the 26-year-old singer owed his creditors $2 million total, but was only worth $8,000! Even his dog was worthless, valued at zero.
In addition to the $2 million being forgiven, Carter also doesn’t have to pay his $1.3 million in taxes that he owes the government.
On the downside, Aaron does have to go to a credit counseling class for his bad deeds. But compared to paying $3.3 million, that doesn’t seem too tough at all!
“Aaron filed for Chapter 7 Bankruptcy protection to alleviate past issues in an effort to move forward with his life and career,” his rep, Steve Honig, told USA TODAY in Novemeber. “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.”
According to legal documents obtained by TMZ, Carter’s assets total exactly $8,232.16, but his liabilities total $2,204,854, which include a $31,166 American Express bill. TMZ adds that Carter additionally owes over $1 million to the IRS.
The filing also revealed how much it costs to be Carter on a monthly basis: $2,005, to be exact. That includes $600 for food, $150 for clothes, and $65 for hygiene. “He’s currently living with a family member,” says TMZ.
It seems a reformed path has been on his mind. “I’ve been living a different lifestyle,” the Huffington Post reports Carter told the Wichita Eagle. “I don’t party. I’ve partied enough. I don’t go out. I focus on other things that are much more important. I focus on being an entertainer. I love performing. That’s what I’m about. I want to take that next step.”