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Aaron Carter has fallen on hard financial times. The hardest, actually, by definition of the law.

According to legal documents obtained by TMZ, the former boy band singer has filed for Chapter 7 Bankruptcy, as his total assets (listed at $8,232.16) don’t come close to matching his total liabilities (listed at $2,204,854).

Carter, who is actually touring at the moment, also owes over $1.3 million to the IRS, but he can’t exactly afford to pay this tax burden off.

Aaron Carter and Melanie Martin

Not when he claims his only assets include:

  • A 61″ flat screen worth ($500).
  • $60 in cash.
  • A Brietling watch worth ($3,750).
  • A dog ($0). It’s true: Carter is on legal record as saying his canine has absolutely no value.

Carter says his average monthly income is $1,998.75 and his monthly expenses are $2,005; these are comprised of $600 for food, $150 for clothes and $65 for hygiene.

It’s been a rough few months overall for the artist.

In June, he was beat up by New Kids on the Block fans. Hard.