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I'm in a strange situation with close to $150,000 in open credit card debt and currently can't make the next payment. (While they were initially low-ish APR's. They are all at 16-27% APR or higher.)

I'm concerned that if I take on a regular job that paid in the $150,000 range, I'd have problems with taxes if I try to pay off my credit card debt? What salary would be needed to be able to pay taxes and also pay off this open credit card debt (assuming that it goes up by only 120% next year)?

(Living costs: ideally - $50k-$70k... in a pinch, I can work with close to 0, the usual "homeless in the office")

I'm in a strange situation with close to $150,000 in open credit card debt and currently can't make the next payment. (While they were initially low-ish APR's. They are all at 16-27% APR or higher.)

I'm concerned that if I take on a regular job that paid in the $150,000 range, I'd have problems with taxes if I try to pay off my credit card debt? What salary would be needed to be able to pay taxes and also pay off this open credit card debt (assuming that it goes up by only 120% next year)?

I'm in a strange situation with close to $150,000 in open credit card debt and currently can't make the next payment. (While they were initially low-ish APR's. They are all at 16-27% APR or higher.)

I'm concerned that if I take on a regular job that paid in the $150,000 range, I'd have problems with taxes if I try to pay off my credit card debt? What salary would be needed to be able to pay taxes and also pay off this open credit card debt (assuming that it goes up by only 120% next year)?

(Living costs: ideally - $50k-$70k... in a pinch, I can work with close to 0, the usual "homeless in the office")

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ina
ina
  • 360
  • 1
  • 10

Open Credit Card Debt and Salary needed to not go bankrupt

I'm in a strange situation with close to $150,000 in open credit card debt and currently can't make the next payment. (While they were initially low-ish APR's. They are all at 16-27% APR or higher.)

I'm concerned that if I take on a regular job that paid in the $150,000 range, I'd have problems with taxes if I try to pay off my credit card debt? What salary would be needed to be able to pay taxes and also pay off this open credit card debt (assuming that it goes up by only 120% next year)?