Self-Employed Tradesperson and $100K Debt Help

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Tom Thomas

Member
29 May 2015
1
0
1
Hi,

Got myself in 100k debt. Half ATO Tax debt and half credit card debt.
I'm self-employed tradie doing same job 30years.
I find my business can support me. But throw in the wife and child support.
Its easy to see when I look back, I lost about 10k a year for 10 years.
Easy maths.
I rent have a work car $ 5000, trailer $ 500 and $1000 regod motorbike.
A couple TVs that's it.
Kids are nearly adults, wife's back working, but my book are now such a mess
Been moving money around accounts now for years.
Getting letters of demand and phone calls everyday.
I stopped opening the mail. answering the phone.

I good at my trade and could make it work again, but how to pay off 100k?
I feel sick.
 

Taxelite

Member
22 March 2015
4
1
4
I feel your pain. Don't stress, seeking a good accountant to assist you. You don't need to go bankrupt