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Before any tax considerations you have $43,444.15 in unsecured debt. I'm assuming these all have high interest rates. Whatever the estate trust will be gaining I'm pretty sure that $43444.15 of post tax money from the estate won't be generating enough to justify the interest. I would recommend targeting nasty unsecured debt immediately even with a tax hit. This includes the 6% mastercard as that is chewing up $344 in payments per month. That would help with your bad cash flow position and would take the pressure off concerns in relation to a drop in income. Those make up $954.99 of your cash flow each month so you should be able to cope with that money being freed up. Next you need to change spending habits/stick to a budget/cut up all of your credit cards.
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Mar 9, 2016 02:42
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BloodBag posted:E: Sweet loving christ, I'm in a hole when I'm on 40 hour weeks. Way worse than I thought. No wonder I feel like I've been sinking this whole last year. You've been operating on payments basis while living pay to pay. I'd recommend calling the credit card companies and saying you're struggling to pay and see if they'll give you 3 months of no interest. At least with that your payments could catch up on the principle of the debts.
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Mar 13, 2016 20:36
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BloodBag posted:A lot of this came from watching my parents spending and then thinking once I got my first job out of college, I could continue in that lifestyle, minus the 30 years of experience they had on me. What an idiot. Lots of people do that. Most seem to have a considerable disconnect in relation to money and lifestyle. Although when you're young it's mostly unsurprising. You've got some good advice there to try to get you in the right headspace. Hopefully you can unbreak your cashflow problem in conjunction with that.
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Mar 23, 2016 20:38
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