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PDtax, CPA firm owner
Category: Social Security
Satisfied Customers: 4626
Experience:  35 years tax and professional advice in all matters money
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I got a question my name is ***** ***** have credit card

Customer Question

i got a question for you my name is ***** ***** have credit card debt of 26,000 dollars i am going through a debt settlement program now my important question i have to ask is in order to do this program i have and escrow account which builds up for 6 months 472 a month would my will the irs catch on to this this debt settlement program didnt start yet until june 3 2016. i was told i can only have up to 2000 dollars in and ssi account if it goes over that i would have to pay back with a check in order for it to be resumed. let me know thanks.
Submitted: 1 year ago.
Category: Social Security
Expert:  PDtax replied 1 year ago.
Hi from just answer. I'mCustomer I'll assist.If you are an SSI recipient, you might not have to even repay the debt. But you're right, if you want to repay, and set up an escrow to fund the debt repayment, it could be an issue with SSA, add the cash is yours and could create an issue with non exempt assets.
Expert:  PDtax replied 1 year ago.
Thanks for asking at just answer. Follow-up questions are welcomed. If this is all you need, please rate my help to close out your question. I'mCustomer