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[quote=Anonymous][quote=Anonymous]I have been on a payment plan for years with the IRS paying faithfully $700/month.  Yes, it was my fault so no flaming please!  Because the amount owed is still substantial, there is no way to pay this off before I'm 63.  Since I'm a self-employed contractor, I don't have a lot of financial benefits (ie matched savings plan, etc) and income of $100,000 with lots of bills, tuition payments, etc.

If there are any bankruptcy attorneys out there, I would appreciate some advice.  I am concerned that I won't be able to keep up the payments as I get older and won't be able to generate my present income.

If I file bankruptcy, would that eliminate the debt?  I have never missed a payment and always in time.  The IRS won't lower the debt because personal debt is not their problem.  I understand that.  Any solid advice from attorneys out there?  Not worth cashing in investments.

[/quote]

If you have that much debt why would you be a self employed contractor.[/quote]

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