I been working with Donaldson Willams on my debt settlement for about 6 months now. They have been great and I’ve settled one account so far with 3 more to go. I was feeling great about my progress but it being tax season (I’m a freelancer and pay my own taxes) I now need to pay a huge amount of taxes for last year and 1st quarter this year which means at this time I have no money to put towards my remaining settlements. Will need to go on a payment plan for last year’s taxes and will try to pay this year’s taxes for I don’t want to fall behind again. And, I just relized I will be taxed on the money DW saved on my debt which means I will owe the IRS even more next year. Very stressed! I really don’t know what to do at this point. There’s only so much money coming in so, I will only be able to save so much for my debt settlement and put towards my taxes. There are also other bills such as food, medical, car an d school that I need to pay which I’m struggling to do, as well.
Have been thinking I should now just file bankruptcy? But, I have been current on my accounts that I didn’t put into my settlement agreement with DW. Can I file bankruptcy if I’m current on some and deliquent on others? How long does it really screw up your credit score? I’m so stressed and confused. I’d love to get some guidance. Please help.
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.I've Been Happy With Donaldson Williams But Stressed About Owing Taxes. - Heather by Steve Rhode