The former teen pop star recently filed for Chapter 7 bankruptcy in a Florida court in order to put behind him money woes incurred from years ago, Carter's publicist, Steve Honig, told The Hollywood Reporter.
"The overwhelming majority of the debt that he's asking to be discharged is from more than 10 years ago, and that was when he was a minor and not in control of his own finances," Honig said.
"So this is a problem that's existed for a long time that he's now made the decision to do something about in order to be able to move forward with his life."
The singer's rep said the decision to file for bankruptcy recently was made "because it became apparent that it was the only way to deal with the problem." Under Chapter 7 bankruptcy, Carter's property would be sold in order to pay debts.
The artist, 25, accrued at least $2 million in debt, yet had only $917 available in his checking account last month, CNN reported from the filed bankruptcy petition.
The pop singer, the younger brother of Backstreet Boy Nick Carter, released a hit album in 2000 with Aaron's Party (Come Get It), that included singles like "I Want Candy" and "That's How I Beat Shaq" along with the title track. Carter released other solo albums, including Oh Aaron (2001) and Another Earthquake (2002).
More recently, in 2011, he was added to the cast of The Fantasticks and left the musical in early 2013. He is currently on a solo North American tour ending next month.
"Over the last few years he's done a lot of things to put his life back together, he's been clean and sober for awhile, he's now taking care of his finances," Honig said.
