I am on medical disability w/ extremely reduced income. CC companies have sold my cards to other companies and interest rates have doubled and trebled. I have been paying off the IRS for back taxes 6-10 years ago) I have paid them $655 a month for 8 years and brought the balance down from $41,000 to $17,000. I can no longer afford this payment, or my cc debts of about $21,000.
My problem is that I received a lump sum settlement from my former employer at the end of May. I want to be honest w/ the trustee, but need a place to spend the money before I file. A lot of it will go towards a tax liability of about $6000 for this year as my old company did not hold out very much any income tax and there is none withheld form my disability income.
Does anyone have any ideas of how I can spend this money (preferably paying on secured debt), but also any way I can. Should I try to hold out 2 more months and use it for living expenses. I am current on most of my bills as of now, but the phone calls will begiin at the end of this month, Thanks for any help. The issue of being honest to the trustee and yet not giving these bloodsuckers any more of my moey is one that really bothers. I've already paid off the IRS and these cc's at least twice and don't want to give them any more. Thanks.
My problem is that I received a lump sum settlement from my former employer at the end of May. I want to be honest w/ the trustee, but need a place to spend the money before I file. A lot of it will go towards a tax liability of about $6000 for this year as my old company did not hold out very much any income tax and there is none withheld form my disability income.
Does anyone have any ideas of how I can spend this money (preferably paying on secured debt), but also any way I can. Should I try to hold out 2 more months and use it for living expenses. I am current on most of my bills as of now, but the phone calls will begiin at the end of this month, Thanks for any help. The issue of being honest to the trustee and yet not giving these bloodsuckers any more of my moey is one that really bothers. I've already paid off the IRS and these cc's at least twice and don't want to give them any more. Thanks.
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