Singer-actor Aaron Carter, younger brother of the Backstreet Boys' Nick Carter, has filed for bankruptcy.

"Aaron filed for Chapter 7 Bankruptcy protection to alleviate past issues in an effort to move forward with his life and career," Carter's spokesman, Steve Honig, said in a statement to Newsday. "The overwhelming majority of the debt he is asking to be discharged is from more than 10 years ago when he was a minor and not in control of his finances."

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The filing took place earlier this month, he said.

Citing legal documents, TMZ.com reported Thursday that Carter, 25, currently on a concert tour, listed assets of $8,232.16 and liabilities of $2,204,854. The site said he also owes $1,368,140 to the IRS.

"This is a common problem for people who are famous at an early age and have their finances managed by others," Honig told Newsday separately. "Aaron is making smart decisions, taking charge of his life and moving forward. This is a step in the right direction for him."