What is the best way for me to get out of debt?
My husband is 65. I am 45. We owned our own business and sold it Sept. 2008. I gave all info. to my bookkeeper re:sell of bus. when our acct. did our taxes. She called me on April 14 and told me that we owed IRS appx. $ 30,0000. I filed extension and got new CPA, he thinks he can get it down to $ 10,000. We got lump sum down, paid off Bills associated w/ Business and many personal. We now receive a monthly pymnt., interest, of about $ 4000 mo. We bought our land from friend privately in 2001 for $ 60,0000. We now only owe $ 15,000 on that. Pymnt. is $ 500 month. My mother-in-law bought us a 4 bdr. Modular in 2003. She had dementia and did not want to go into home. We subsequently got a Home Equity Loan for about $ 67,000 to build deck w/handicap access and 2car garage and purchase items for home. The home is probably now worth appx. $ 250,000. We own one vehicle. I cannot find job in this area. My mother-in law is gone now, so it’s myself, my husband, my two daughters aged 16 & 20. 20 yr old contributes financially and pays her way. I allowed my husband to move his son (age 46), and his grandson(age 12). They do not contribute. He is recovering from knee surgery and I told him he can stay until Sep.1st. We have been unable to pay our monthly expenses. I was working for a few months & made appx. $ 800 supplemental income.We are more behind every month and it’s been one year. In 2012 we will receive $ 400,000. Final pymnt on sale of business. Our credit card debt is appx. $ 10,000. We were turned down on increasing home equity loan, because credit is ruined due to inability to pay . My husband keeps saying “Let’s do a reverse mortgage” I am too young and I am against this for other reasons. #1 I would have to take name off home, Penalties, and I told my husband I would prefer to sell home deal w/ bills and IRS, and we could downsize till 2012. New owners of our business offered to pay us $ 275,000 now on sale . I don’t want to take less for business. I think our biggest prob. is too much baggage. I told my hub we should sell, get out of debt, travel around to see where we would like to relocate. Put money down on smaller place, for me him, and 16yr old. I would rather help my daughter get out on her own, and especially his 48yr old son. I think we could make it. He keeps saying where will we live… I say “If his mother had not lived w/ us & bought Home we would have moved on. ” I told him reverse mortgage not right move, I’d rather sell. Our power bill here is $ 500mo in winter & $ 300mo in summer. I am younger and not ready to retire and everyone in this smalll town thinks because we owned our businesswe are rich. I don’t think I could buy a job here. Help? Any Advice?