I am 70 on ss. I have $24589 cc debt. I owe my brother $6500 back rent (it's his house). If I get the cc's (there are 7) to settle at 20%, pay my brother, pay those 1099 and the tax on the inheritance, that will leave me about $2000 to finance a move to a low income sr. citizen apt. Should I tell all that to those I attempt to settle with? My credit history is immaculate up until now. I plan to start the procedure in June, begin negotiations in Aug and make lump sum payments in Nov. Is this a reasonable plan?
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