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Former teen pop star files for Chapter 7 in Florida

Although many people make every effort to be frugal and to manage their money well, financial troubles can happen to just about anyone. A lot of people in the Tampa area are smart with their finances, but sometimes the circumstances of life can lead to money problems despite those efforts. Unfortunately, being in debt or facing foreclosure are all too common for many people these days. But there are ways to overcome those problems.

A former teenage pop star has recently filed for Chapter 7 bankruptcy in a Florida court. According to reports singer Aaron Carter, who is now 25-years-old, managed to rack up at least $2 million in debt. However, he reportedly only had $917 still in his checking account in October of this year, according to the bankruptcy papers he filed in November.

According to the singer’s lawyer, most of his debt is from many years ago when he was still a teenager. His attorney claims that the debt was accrued when Mr. Carter did not have control over his finances because he was still a minor. His attorney also said that Mr. Carter chose to file for bankruptcy because it appeared to be the only way to overcome his debt. According to Chapter 7 bankruptcy, Carter would have to sell all of his property to pay off his debts.

Anyone can get into financial problems, even those who have made a lot of money. If a person in the Tampa area finds him or herself in this kind of situation he or she should consider all the options, including seeking the council and advice of an experienced bankruptcy attorney.

Source: Billboard, “Aaron Carter files for bankruptcy,” Erik Hayden, Nov. 21, 2013

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