Singer Aaron Carter, once a huge teen heartthrob, filed a bankruptcy petition while facing millions in debt.
In the documents filed on Thursday, it was revealed that the 25-year-old singer's assets total $8,200, while his liabilities are more than $2.2 million.
"This is not a negative thing," Carter publicist Steve Honig told CNN. "It's actually very positive. It's him doing what he needs to do to move forward.”
The majority of the money, roughly $1.3 million, he owes to the IRS in back taxes from his income in 2003, when Carter was just 16. Honig explained, “The bulk of the debt is from over 10 years ago when he was a minor and not in control of his finances. This has happened to a lot of people who had fame at such at a very early age."
The younger brother of Backstreet Boys' Nick Carter, Aaron kicked off his “After Party Tour” earlier this year.