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Remember Aaron Carter? Dude is BUH-ROKE!

 
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Midna View Drop Down
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Post Options Post Options   Thanks (0) Thanks(0)   Quote Midna Quote  Post ReplyReply Direct Link To This Post Topic: Remember Aaron Carter? Dude is BUH-ROKE!
    Posted: Nov 22 2013 at 9:13pm
I embarrassingly admit I stanned for this dude as a kid. LOL But I grew up and once I saw him acting hella stupid on Dancing with the Stars, I was highly repulsed.

But now this dude can only access $900?! Daaaaamn.

Quote

Inside Aaron Carter’s Bankruptcy: How He Wound Up Worth Just $8,000 (Dog Included)

By Lauren Schutte November 21, 2013 3:15 PM omg!








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Having a famous name doesn't always mean there's money in the bank.

Former kid pop star Aaron Carter, 25, has filed for bankruptcy, claiming to have tax and credit debts exceeding $3.5 million while possessing just $8,232.16 in assets — just $977.16 of that in accessible cash, according to documents obtained by omg!.

Carter, the younger brother of Backstreet Boy Nick Carter, says in his court filing, dated Oct. 23, that he owes $2,204,654 to creditors, including a $1,307,648 income tax debt to the IRS, and a $31,166 American Express bill.

"Aaron filed for Chapter 7 bankruptcy protection to alleviate past issues in an effort to move forward with his life and career," his rep tells omg! in a statement. "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.”

Chapter 7 is the most aggressive form of bankruptcy, requiring liquidation of most assets, and absolving the petitioner of the bills they owe (aka creditors will not recover the funds). The big downside is that a filing for Chapter 7 will stay on one's credit report for 10 years.

Carter's finances were handled by his parents: his dad acted as business manager, and mother was his manager. As Aaron told it earlier this year: "There was lot's of money made, hundreds of millions of dollars." But, eventually problems arose between the singer and his folks about where that money was going. "When I was 13-14, I started paying attention to what my mom and dad were doing [with my money], and I wanted to know about stuff. I started getting familiar about taxes. ... I was becoming very inquisitive and my parents didn't like that." He eventually cut business ties with his parents.

[Related: Is There Bad Blood Between Aaron and Nick Carter?]

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He lists a hefty debt to music company Live Nation Merchandise Inc. to the tune of $575,340, and a $89,000 bill from talent management company Wright Entertainment Group LLC, which Carter notes he is disputing.

In the documents, Carter lists just a few physical assets: a 61-inch flat-screen television and cell phone valued together at $500, two MacBook computers, two headset microphones, a mini keyboard, portable Beats by Dre speaker, guitar, a Louis Vuitton backpack, duffle bag, printer, and a Brietling watch ($3,750).

Heartbreakingly, Carter, who will be surrendering his listed property, also lists his dog, valuing him at zero dollars.

Once an international pop star, Aaron's first on-stage performance was opening for the Backstreet Boys and his second album, "Aaron's Party (Come Get It)," sold 1.5 million copies in the U.S. and featured his biggest hit, "I Want Candy." But the singer is no stranger to troubled times. He has been in and out of rehab for addiction issues, most recently in 2011 for Xanex, also appearing on "Celebrity Rehab 2" in 2006. He lost his 25-year-old sister, Leslie, in January 2012 after a reported prescription pill drug overdose.

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Older brother Nick, who has had his own share of troubles with drugs and alcohol, says he helped Aaron with his sobriety. "When my brother entered rehab, I took him there," Nick told Dr. Phil in September. "It was heartbreaking, but at the same time, there was more hope." No word yet if the elder pop star, who has been back on stage with the reunited Backstreet Boys, plans to help his little bro with his current financial crisis — things have been tense between the two following Leslie's death.

[Related: Celebrities Send Condolences to Nick and Aaron Carter After Sister's Death]

Carter famously caused a feud between fellow teen stars Lindsay Lohan and Hilary Duff whom he was reportedly dating at the same time. Discussing his also-troubled ex Lohan earlier this year, Carter called for compassion.

[Related: Aaron Carter: 'I'll Always Be There' for Lindsay Lohan]

"She just deals with struggles like we all do," he told PeterDee.TV. "We're human, you know? It's important for others to embrace somebody when they're down -- not kick them while they are down."

Here's hoping people give him the same sentiment.

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HaitianDiva64 View Drop Down
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Post Options Post Options   Thanks (6) Thanks(6)   Quote HaitianDiva64 Quote  Post ReplyReply Direct Link To This Post Posted: Nov 22 2013 at 9:28pm
Reality show/book coming near you
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Post Options Post Options   Thanks (3) Thanks(3)   Quote ms_wonderland Quote  Post ReplyReply Direct Link To This Post Posted: Nov 22 2013 at 9:32pm
there's been rumors that he tricks himself to older Hollywood guys.  I wonder if any of them have been keeping him afloat with the basics.  when he made it on Dancing With The Stars he still had meth face so he must've gotten some inside help.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote CLCNY20 Quote  Post ReplyReply Direct Link To This Post Posted: Nov 22 2013 at 9:33pm
I bet!  lol.
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Post Options Post Options   Thanks (1) Thanks(1)   Quote liesnalibis Quote  Post ReplyReply Direct Link To This Post Posted: Nov 22 2013 at 9:54pm
Originally posted by ms_wonderland ms_wonderland wrote:

there's been rumors that he tricks himself to older Hollywood guys.  I wonder if any of them have been keeping him afloat with the basics.  when he made it on Dancing With The Stars he still had meth face so he must've gotten some inside help.


Daaaaaaamn.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote HeyBeautiful18 Quote  Post ReplyReply Direct Link To This Post Posted: Nov 22 2013 at 9:57pm
Originally posted by ms_wonderland ms_wonderland wrote:

there's been rumors that he tricks himself to older Hollywood guys.


I wouldn't be surprised! I was watching him on one of those "where are they now" type shows and the way he was acting seemed a lil feminine and fruity
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Post Options Post Options   Thanks (2) Thanks(2)   Quote sexyandfamous Quote  Post ReplyReply Direct Link To This Post Posted: Nov 22 2013 at 10:37pm
He cut ties with his parents (financially) when he was a teenager. He is now 25. He cannot blame his parents on his bankruptcy; he is the one who made himself broke.

He filled for bankruptcy because he doesn't want to pay anything.... so he can start over again and spend more and not pay a dime. I hope IRS says no.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote newdiva1 Quote  Post ReplyReply Direct Link To This Post Posted: Nov 23 2013 at 3:39am
i'd believe it. them hollywood guys would def fucc.
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Post Options Post Options   Thanks (6) Thanks(6)   Quote afrokock Quote  Post ReplyReply Direct Link To This Post Posted: Nov 23 2013 at 3:40am
Well he ain't black ... Fucc him
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Post Options Post Options   Thanks (1) Thanks(1)   Quote nekamarie83 Quote  Post ReplyReply Direct Link To This Post Posted: Nov 23 2013 at 9:07am
I hope that the IRS will split the dif. I'm cool with them letting anything before his xxTH birthday fall off.

Everything after that date or after he (re)gained control of his finances is on him. That's as much sympathy as he gets from me.

He can work (as many jobs as he needs) to pay the rest of that off. I'll save my "awws" for the non-millionaires effected by debt, low wages, inflation, etc.
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