Aaron Carter Files For Bankruptcy, Lists Dog's Value as ZERO.

Aaron Carter - the one time pop star and younger brother of Backstreet Boys star Nick Carter - has filed for bankruptcy.

According to legal documents obtained by TMZ.com, Aaron's assets total just $8,232,16 though his liabilities total $2,204,854, which includes an AmEx bill of $31,166.

Aaron - who is still on tour - also owes over $1 million to the IRS - which is a problem given that all he owns is a couple of MacBooks and a duffle bag.

In the documents, he lists the following as his assets: a 61" flat screen worth $500.  He also lists 2 MacBooks, 2 Headset Mics, a Mini Keyboard, Portable Beats, a speaker, a guitar, $60 in cash, Louis Vuitton backpack, a duffle bag and a printer worth a total of $2,500.  He also owns a Brietling watch worth $3,750.

Probably the most upsetting part of the whole thing is that Aaron lists a dog with a value of ZERO. Nothing. His dog is worth no dollars. Not even a dime.

Aaron lists his monthly income as $1,998.75 and monthly expenses of $2,005, which includes $600 for food, $150 for clothes and $65 for HYGIENE.

The pop star is going to whole hog and filing for Chapter 7 bankruptcy, which means the creditors are going to move in.

Aaron's representative Steve Honig - yep the same guy who used to do PR for Lindsay Lohan - tells TMZ that the singer filed for bankruptcy to move forward with his life and career adding, "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."

Carter - who has continued to release music and tour -  joined season 9 of primetime reality series, Dancing with the Stars in 2009. He and partner Karina Smirnoff were eliminated and finished in fifth place - which is probably the worst position to finish.

Aaron probably shouldn't worry too much - his brother Nick is about to hit the road on a huge Backstreet Boys reunion tour and should be pulling in a couple of bucks. Maybe young Aaron will have enough to buy his little pooch a new collar.

Check out who is supporting Backstreet Boys on their upcoming tour.

Hey, It's Aaron Carter!

Aaron Carter's Dog Is Worth $0.