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I’m Retired Military. What’s the Best Way Out of My Debt Mess? – Brian

I retired from the Military after 26 years. Got a job, but at about 40 percent of what I was making. After draining the savings because It took me 5 months to find work. I have 2 major problems:

1) 65,000 credit card debit costing me 2200 month in minimum payments. We are coming up about 500 month short on living expenses after the bills, mortage, cars are paid.

2) the retirement check I am getting from my military pension was not getting enough taxes deducted, so I estimate I will owe the IRS around 2000 dollars in April.

What to do ?

I looked into debt settlement, but I am worried about getting sued and the tax liability. I am worried about claiming bankrupcy because I have a security sensitive job. It feels preety hopeless for our family at this point. Thanks in advance for any suggestions you can offer.

Brian in Texas

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About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.


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