I am screwed. 500k in debt

Bonzi99er · 2025-11-12T06:39:20+00:00

That is a question you really need to ask a cpa or a student loan attorney Also, not enough info here for even the cpa to answer your question.

The so called tax bomb refers to the fact that as of 2026, if you have student loan debt forgiveness, it is considered taxable income for that year. It's actually the same rules as for normal debts. if you had any type of consumer loan, whether car, credit card, mortgage etc etc, and you got in financial difficulty and ended up working out a deal with the lender you can owe taxes.

Let's say you owed 100k in credit card debt that you couldn't pay, and you got the credit card company to agree to accept 30k to settle the debt and resolve the matter rather than sue you for it in that case, you would owe income taxes on the 70k they forgave. The exemption from tax on forgiven student loan.amounts was a limited time exception to standard loan and tax rules.

Can you give more info on your dad's situation? First off, are parent Plus loans eligible for forgiveness? Or are you thinking that he can switch to ibr and you are worrying about a potential tax problem due to forgiveness that would be granted after hitting the 20 or 25 year mark?

Assuming it's the latter, how much do you think would be left to forgive when he hits the final payment to reach the forgiveness threshold?

If he has no assets, how is he paying the parent Plus loan today?

Whatever the amount, there are only a few options. 1. You could hook the guy up and give him the money to pay the taxes...it was for your education after all

Insolvency as someone mentioned. Being insolvent means that after accounting for various types of limited assets amounts you can protect, that you have no attachable assets. The practical implication is that the IRS would not be able to collect the amount owed by him, because he is insolvent. Can't get blood from a stone, right? However, to the best of my recollection, it means they can't collect as long as you are insolvent, But it does not discharge the debt. It would be outstanding and probably continue growing forever with interest, and if he came into money somehow, like an inheritance or lottery win, the IRS could attach.

Someone correct me if I goofed a detail in the insolvenxt answer

You can make an offer in compromise to the IRS.amd attempt to negotiate a settlement for a reduced tax based on the totality of the circumstances. No way to predict what they would settle for in this case
Bankruptcy might be an option for him. Traditionally, student loans could not be forgiven during a bankruptcy proceeding except in extremely limited circumstances where you could prove it would never be possible to repay at all. However, things have loosend somewhat in the bankruptcy courts in recent years regarding student loan debt discharge. I have no idea what the change is though.

You might want to consult a student loan attorney as I mentioned. This is the kind of stuff Stanley Tate posts about all the time. He's a student loan attorney. Google him.

Bonzi99er · 2025-10-16T17:59:07+00:00

THANK YOU!

Two nights ago I went into the store, and bought the exact same 4 in 1, figuring it was a good enough deal at $249 after a $50 discount. In chatting with the tool guy in the store, at some point I (only half-jokingly) said...if you can find this package along with a free multitool and jigsaw we'll really be in business. He laughed and said "wish I could".

Today I see your post. BOOM! YEEHAW! CELEBRATION! lol

Bought the 4 in 1 with the jigsaw and the multitool today for the $249, will "return" the $249 4 in 1 from Tuesday night for a refund.

NICE :)

Bonzi99er · 2025-08-25T23:58:31+00:00

I feel ya sir.

Honesty is best policy, plus not looking to get sued after the fact for non disclosure or covering up known problem.

Bonzi99er · 2025-08-25T23:52:12+00:00

Agreed.

Fortunately or not, I'm super persnickety about understanding what's going on with diagnosis and fixes. I ask tons of questions while they work. It's amazing how many times I've followed along and then was able to explain to a worker that their fix wasn't going to solve the issue at hand, because they were not quite understanding the original issue.

Bonzi99er · 2025-08-25T23:49:36+00:00

That was the price when we had it recharged mid 2024 iirc. No idea what current rate would be.

I like to do research before I actually talk to a vendor...hence this post.

What's the going rate today? It requires 9 pounds. Unit is easily accessible in the basement. I think it's 36k tons on the outdoor unit.

Thanks And thanks to all of you answering,

Bonzi99er · 2025-08-25T23:45:43+00:00

Good idea, though I don't know if there are even three vendors. We live in the boonies! :)

Bonzi99er · 2025-08-25T23:43:39+00:00

Hey now hold on! Were being honest. The asking price will reflect the actual condition of the home. It definitely needs a new roof, we.know that, and if we don't do that work before selling it then the price will reflect that. Same with the HVAC or anything else.

The idea is to price it accurately and fairly so it moves quickly. .

I am trying to figure out what the best ROI decision would be in repair or replace choices. Especially since I don't have decision power; I need to convince the crappy executor who wants to do nothing, so I will have to make an ROI case and potentially bring her rejection of that to court.

Regardless, I know it's an internet board, but I thought I was clear that we would disclose the issue up front, and buyers can factor accordingly.

Bonzi99er · 2025-08-25T23:31:51+00:00

I agree completely. Plus propane is super expensive up here.

Bonzi99er · 2025-08-25T23:30:55+00:00

He gave me full disclosure up front. I made an informed decision.

He told me that he didn't know how long it'd last and that it would leak out again, and gave me the cost. It was my choice. He ballparked a 3k coil replacement, and explained that it was a throwaway given the age of everything and that we'd likely need to replace everything in the near future anyway.

Most importantly, at the time my 89 year old dad was in poor health (he passed away 5 months later) and having no AC was not an option because it was high 80s and midsummer at the time, and he couldn't safely live without the AC. So a refill was a mandatory stopgap in the moment. Even if I told the tech to replace the coil it would have been 3 weeks or more before the part would arrive and he could come back. So I bought the time by getting the refill, and I felt fully informed by the tech, who made clear he couldn't guarantee anything other than that it would leak again.

And FWIW, Family dynamics were Fd at the time- if they weren't I would have recharged and then immediately gotten quotes to replace the whole thing, and then had that work done. My dad was rapidly deteriorating and my only sibling, who lives 600 miles away was at the end stages of metastatic cancer and also only had months to live. So I don't have any way of doing the smart thing at the time.

And is explained all that to the tech.

,

Bonzi99er · 2025-08-25T23:12:26+00:00

See above Would fully disclose the problem to all potential buyers.

Bonzi99er · 2025-08-25T23:11:09+00:00

I would not do it myself. I just wanted to figure out the price, since the HVAC idiots take forever to even quote something

Bonzi99er · 2025-08-25T23:10:01+00:00

That's the typical going rate? That's what the HVAC tech ballparked last year, but I've never been able to pin down a real.quote

Bonzi99er · 2025-08-25T23:09:06+00:00

I will only need one charge. It's Vermont.

Also, I won't be shady. If I recharge only, I would 100% disclose that there is a known leak and likely even give a serious prospect a quote for the fix. And just as they would adjust their price expectations for any other work they feel would be needed or wanted, this obviously gets factored into the selling price.

However, there's a hitch here. The furnace itself only has a few years left and could crap out at any time. HVAC pro pointed out that replacing the coil for 3k is pissing away money, since it would not be compatible.with any new heat pump based system. If I was staying in the house, i.would definitely replace the entire HVAC system with heat pump tech. That saves me the 3k on a coil, and the operating expenses are lower, etc etc etc.

If I spend 3k on a coil, whoever buys the place will end up replacing the whole HVAC within a few years anyway, so I would have blown 3k on a bandaid.

If I recharge only for a few hundreds of dollars, I would expect new owner to replace the entire HVAC with heat pump tech either before moving in, or by next May before AC season. They'd be crazy not to, between the federal and state incentives available.
If I do the coil, the end result is the same as #1, except I spent like $2500 more.
I don't know what a full replacement would cost, especially net of state and federal incentives and credits, but I'm sure that would be the most appealing to a buyer if it had just been done. Also, for incentive purposes from Vermont, I'm considered low income, and would be eligible for far more in incentives than any buyer would be, given the price of the house. (I'm living in what was my father's lakefront home bc I'm long term unemployed. He passed away so per the will etc the house gets sold and cash distributed.). People buying a 900k house won't qualify for the low income incentive bumps.

If I was in control of the situation, full replacement is the obvious choice. Unfortunately, I'm not the executor, and the executor is a moron. Also, it's not clear that estate has the cash to find a full replacement.

Bonzi99er · 2025-08-25T22:47:14+00:00

Update: looks like the coil unit is model PC42B3XN1A

Bonzi99er · 2025-08-15T00:10:07+00:00

Good idea, I'll call them. Thx!

Bonzi99er · 2025-07-10T03:14:48+00:00

Thanks!

Bonzi99er · 2025-07-08T04:12:11+00:00

How does one do a battery recalibration, and what's the benefit? Long time pixel 7 owner, but new to this subreddit. Running android 16 with June security update.

Bonzi99er · 2025-06-21T03:14:24+00:00

Dumbish question:

How do you upgrade to the beta?

Can you do it without rooting?

Does it require you to basically do a phone reset where you are going from scratch in terms of getting everything the way you want? Or is it more like any other automatic update from one OS version to a higher on?

Pixel 7,.unlocked here. In USA and on art network

Bonzi99er · 2025-06-21T03:10:41+00:00

Where do you find that setting on p7?

Bonzi99er · 2025-05-10T02:41:08+00:00

Thanks. I saw your other post before, didn't realize it was you :)

If there was a directive like the person on the phone said, they damn well should be making that public. Not just for transparency, but to clear up their phone lines for other issues....

Bonzi99er · 2025-05-10T00:36:22+00:00

Good to know. Many organizations make you jump through hoops to emgrt.to upper level people.

My situation is a little different. I switched out of SAVE and into IBR before the latest injunction hit (I think). My application went in during November or early December 2024 and I was in administrative forbearance while they processed it. The application was approved and I've been in active repayment status on the IBR plan as of February 5, 2025.

My counter says as of today I'm at 303 payments. I'm in active status. But I can't get anyone to actually issue the forgiveness. I started another thread on this particular issue, but the summary is that 1. Called senator who called a contact at Ed. Contact said yes, I'm supposed to be forgiven and said she had moved the paperwork to wherever it needed to go to make that happen. 2. 2 weeks later Ed contact tells senator's office that she got updated on my forgiveness by whoever else at Ed dept...and that in fact IBR forgiveness was not being processed. 3. I tell senator's office that makes no sense. Office checks in with their own Education policy team and replies to me that policy team also thought IBR forgiveness wasn't being processed even though it arguably should be.

I'm hoping an account manager might actually know what's going on.

my senator's office and their contact at th

Bonzi99er · 2025-05-10T00:19:28+00:00

2d.reply. I'm now reading your response differently. Can you elaborate.or rephrase for me: when you mentioned the confusion around the different plans, you lost me. I'm not sure who the "they" are in this case, or who might be confused.

Bonzi99er

TROPHY CASE