Aaron Carter declares bankruptcy; Has $8k in assets and $2.2 million in debt

Singer Aaron Carter, a native son of Tampa, has filed for bankruptcy, claiming he only has about $8,000 in assets, but $2.2 million in liabilities. You'd think being on tour right now would help some of that, but no, apparently not.

The 25-year-old filed for Chapter 7, TMZ reports, saying his average monthly income is a paltry $1,998.75, which isn't enough for a listed $2,005 in monthly expenses. That $5 is weird; skipping Starbucks really can make a difference!

Court documents list $8,232.16 in assets, including a 61-inch flat screen TV, two MacBooks, a guitar, a Louis Vuitton backpack, a $3,750 Breitling watch and $60 in cash. He also lists his dog as an asset, the site points out. Its value is listed as $0.

He apparently has a wide range of debts, including a $31,166 American Express bill, and owes the IRS $1,360,140. Good thing he's living with an unspecified family member.

Carter's rep Steve Honig says "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." Those two platinum albums must not have made him any money. Opening for big brother Nick's Backstreet Boys and Britney Spears all those years must have really messed things up for him.