I am going around in torn clothing (7)
I believe the answer is:
raiment
'clothing' is the definition.
(raiment is a kind of clothing)
'i am going around in torn' is the wordplay.
'going around' is an anagram indicator.
'in' indicates putting letters inside.
'torn' becomes 'rent' (synonyms).
'i'+'am'='iam'
'iam' with letters rearranged gives 'aim'.
'aim' inserted within 'rent' is 'RAIMENT'.
(Other definitions for raiment that I've seen before include "Tire man (anag.)" , "Clobber" , "Garb" , "Gear" , "investment" .)