I will reach full retirement age 9/20/2018 and the balance in my three IRAs is $200,000.00. I owe about $42,000 in CC debt and $2,500 to the IRS that is on an installment plan. I own two cars (1999,2002) valued at about $6,000.00 and am current on my mortgage. My income has been spotty because I cannot get a full time job. 2016 income est about $40,000.00. Working as a consultant. Assignment ends in April. No idea if I can get another or if I will be eligible for unemployment. Is it possible to eliminate the entire CC and IRS debt, keep my full retirement, full SS benefits, my cars and my house? Lost my job in 2011 and separated from my wife 2010 (Divorce final 2013 - no additional obligations to my Ex.). I'm told I am too old to work full time in my line of work. Wall Street Client Service Officer.
You will not be able to discharge the IRS claim if you have a plan. The rest of your analysis is correct, subject to review of the documents. IRA accounts are generally exempt, and the other debt is presumptively dischargeable.
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