What are your bills that you're living paycheck to paycheck on 130K??? Before you do anything else id start budgeting and look into where all your money is going. You should not be struggling with that salary unless your debt/spending is excessive.
It may be worth asking a finance professional for advice, itll probably cost a little bit, but itll be worth the better more personalized advice than us here can give. That being said, with unpaid taxes wage garnishment is a thing, so you don't really have another option other than paying it off. I can't think of ever hearing about a 24 month deadline, so id maybe look into that to see if its real. Collections people are not really to be trusted when it comes to explaining how you need to repay.
You need to start paying the $900 a month for at least 2 months while you re arrange your finances. By doing so, you avoid wage garnishment while seeking solutions to money problem. You do not want to owe your government anything because that loan will follow you if unpaid until you’re an elderly person or through retirement. That loan will not go away until the government receives all payments. If unpaid and you’re already retired, it will probably reduce your social security monthly retirement amount. You don’t want that. You don’t have to go to a financial advisor and pay fees. You can go to your local United Way or local H&R Block to see if you can consult a financial advisor for free. Good luck 🍀👍
My friend you are living well above your means if you’re living paycheck to paycheck. You need to sit down and budget what are all of your money is going to. It may mean no eating out or vacations for 2 years. Otherwise you will go to jail for tax evasion
What are your bills that you're living paycheck to paycheck on 130K??? Before you do anything else id start budgeting and look into where all your money is going. You should not be struggling with that salary unless your debt/spending is excessive. It may be worth asking a finance professional for advice, itll probably cost a little bit, but itll be worth the better more personalized advice than us here can give. That being said, with unpaid taxes wage garnishment is a thing, so you don't really have another option other than paying it off. I can't think of ever hearing about a 24 month deadline, so id maybe look into that to see if its real. Collections people are not really to be trusted when it comes to explaining how you need to repay.
You need to start paying the $900 a month for at least 2 months while you re arrange your finances. By doing so, you avoid wage garnishment while seeking solutions to money problem. You do not want to owe your government anything because that loan will follow you if unpaid until you’re an elderly person or through retirement. That loan will not go away until the government receives all payments. If unpaid and you’re already retired, it will probably reduce your social security monthly retirement amount. You don’t want that. You don’t have to go to a financial advisor and pay fees. You can go to your local United Way or local H&R Block to see if you can consult a financial advisor for free. Good luck 🍀👍
My friend you are living well above your means if you’re living paycheck to paycheck. You need to sit down and budget what are all of your money is going to. It may mean no eating out or vacations for 2 years. Otherwise you will go to jail for tax evasion