I’m About to Have a Nervous Breakdown Because of My Debt. –

“Dear Steve,

60k in IRS debt and 20k in credit card debt, already living paycheck to paycheck supporting kids and adopted grandkids

What can I do, IRS has placed a federal tax lien so i can’t get a loan and credit card company is calling my work and home 20 times a day and applying 20% interest but is unwilling to talk settlement, I haven’t been able to pay payments vs. grogeries for 4 months now, I am going to have a nervous breakdown, Help?


Dear Bill,

The reason you are feeling as if you are having a nervous breakdown is because the stress is extreme and you are in an un-winnable situation. So in order to change the stress level you are going to have to take some action to break the logjam you are in.

The IRS lien is going to prevent you from getting a loan. Without the loan you feel you can’t get out from under the credit card debt. You can’t afford to make payments and eat. As long as you remain under the credit card debt the collectors are going to call. The collection calls are stressing you out.

If you change one thing here, eliminate your debt, the calls and pressure stop. Your only real option to break this logjam is going to be with bankruptcy to discharge the credit card debt. The IRS debt will have to be repaid or a repayment offer or an offer in compromise might be to help deal with the IRS debt.

I would strongly suggest that you go and meet with a local bankruptcy attorney, discuss your situation, and take some proactive action to alter the current path you are on. Once you do that it will make your life and the lives of those around you, better.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

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Steve Rhode

2 thoughts on “I’m About to Have a Nervous Breakdown Because of My Debt. –”

  1. Steve,
    I do not know who to turn to and ask this question. Where can I go to get help with my bills? The stress is compounding daily. I feel like I need to be in the hospital. I need an accountant or another person to help me. I am so far behind with all of the bills that my spouse is yelling at me daily. ( I am the one who gets to pay the bills ) I am near the metro area of MN. Can you recomend anyone? My trust level is not very high, to many people have taken me for an expensive ride. Thank you for your time, Cathy

    • Cathy,

      You should contact a local bankruptcy attorney and speak to them and a local consumer credit counseling agency and discuss your options with them. Don’t make any decisions until you talk to both. This information will help you to make an educated decision based on your situation. Come back and let me know what you decide to do.



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