Aaron Carter is $150,000 in debt

Former child star Aaron Carter is $150,000 (£104,000) in debt as he struggles to recover from his bankruptcy.
The Candy hitmaker declared himself bankrupt in 2013, listing his debts at $2.2 million (£1.5 million), including $1.3 million (£901,000) in unpaid taxes. He subsequently undertook a series of court-ordered money management courses and settled his tax debts in 2014.
However, he is still suffering financially, and appears on U.S. reality show Life Or Debt to get help from host Victor Antonio, who asks him what he has in his bank account, to which Aaron replies “Nothing… below zero”.
The 28-year-old also revealed he has no savings, estimates his debts at $150,000 and out of the $1.5 million (£1 million) he reckons he has made in the last three years, he “probably” only received about $100,000 (£69,000) in total.
“Financially, I’m in a terrible position,” Aaron tells the financial adviser in a trailer for the show. “When I turned 18, I got hit with all those taxes. I filed a Chapter 7 bankruptcy last year; now I’m already over $100,000 in debt…
“It’s been really difficult for me. I want to have a life set up. I want to have a house. I can’t tell you how badly I want to have a home,” he says emotionally, while stood in his modest apartment.
Victor said Aaron “took the bullet for his parents” financially and Aaron, the younger brother of Backstreet Boys’ Nick, admits he was recommended against bearing the brunt of the bankruptcy.
In the clip, Victor explains to viewers that Aaron’s parents were required by law to put away 15 per cent of his earnings into a trust while he was underage. Due to this, by the time he turned 18, he had millions in the bank, but he gave the money to his parents “to prevent them from going to jail for tax evasion”.
Aaron’s episode airs in the U.S. on Sunday (15May16).

by WENN

SIMILAR ARTICLES