Comments on: To boost my credit score is it better to use money to pay off a federal tax lien or credit debt? http://raiseyourcreditnow.com/to-boost-my-credit-score-is-it-better-to-use-money-to-pay-off-a-federal-tax-lien-or-credit-debt/ Wed, 17 Aug 2011 05:23:38 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: OC1999 http://raiseyourcreditnow.com/to-boost-my-credit-score-is-it-better-to-use-money-to-pay-off-a-federal-tax-lien-or-credit-debt/comment-page-1/#comment-3692 OC1999 Tue, 09 Feb 2010 12:57:45 +0000 http://raiseyourcreditnow.com/to-boost-my-credit-score-is-it-better-to-use-money-to-pay-off-a-federal-tax-lien-or-credit-debt/#comment-3692 You don't say if the CC Debt is current(but just excessive) or actually delinquent and in collections. If the CC Debt is current pay off the lien. As the lien is harming your credit more than the Credit cards are. Also, even though you are on a payment plan the IRS could take further action and has more "tools" to get you to pay than the Credit Cards do. If the Credit Cards are in collections and they could successfully sue you, that is you are still in the Statute of Limitations. It MAY be to your advantage to take care of these to avoid additional judgments from showing up on your report. You don’t say if the CC Debt is current(but just excessive) or actually delinquent and in collections.

If the CC Debt is current pay off the lien. As the lien is harming your credit more than the Credit cards are. Also, even though you are on a payment plan the IRS could take further action and has more “tools” to get you to pay than the Credit Cards do.

If the Credit Cards are in collections and they could successfully sue you, that is you are still in the Statute of Limitations. It MAY be to your advantage to take care of these to avoid additional judgments from showing up on your report.

]]> By: kindoflost20 http://raiseyourcreditnow.com/to-boost-my-credit-score-is-it-better-to-use-money-to-pay-off-a-federal-tax-lien-or-credit-debt/comment-page-1/#comment-3691 kindoflost20 Sat, 06 Feb 2010 23:10:27 +0000 http://raiseyourcreditnow.com/to-boost-my-credit-score-is-it-better-to-use-money-to-pay-off-a-federal-tax-lien-or-credit-debt/#comment-3691 Pay the IRS first... their scary. Ask if you could lower the intrest rate in your cards. Pay the IRS first… their scary. Ask if you could lower the intrest rate in your cards.

]]> By: Karen S http://raiseyourcreditnow.com/to-boost-my-credit-score-is-it-better-to-use-money-to-pay-off-a-federal-tax-lien-or-credit-debt/comment-page-1/#comment-3690 Karen S Thu, 04 Feb 2010 04:18:59 +0000 http://raiseyourcreditnow.com/to-boost-my-credit-score-is-it-better-to-use-money-to-pay-off-a-federal-tax-lien-or-credit-debt/#comment-3690 Pay what is required on every account. Then put the rest toward the tax lien. That is what I think I'd do. However, since you already have an installment plan on the lien, you should probably pay off the credit cards if they are at a higher interest rate. Once the cards are paid off, do not charge more than you can pay off each month. Pay what is required on every account. Then put the rest toward the tax lien. That is what I think I’d do. However, since you already have an installment plan on the lien, you should probably pay off the credit cards if they are at a higher interest rate. Once the cards are paid off, do not charge more than you can pay off each month.

]]> By: trilabyter http://raiseyourcreditnow.com/to-boost-my-credit-score-is-it-better-to-use-money-to-pay-off-a-federal-tax-lien-or-credit-debt/comment-page-1/#comment-3689 trilabyter Wed, 03 Feb 2010 09:23:53 +0000 http://raiseyourcreditnow.com/to-boost-my-credit-score-is-it-better-to-use-money-to-pay-off-a-federal-tax-lien-or-credit-debt/#comment-3689 If you owe more than 70% of the limit on your credit cards, it may help to pay them down at least part way. If the credit cards are below 70% of the limit, I would suggest taking care of the tax lien. If you owe more than 70% of the limit on your credit cards, it may help to pay them down at least part way. If the credit cards are below 70% of the limit, I would suggest taking care of the tax lien.

]]> By: Anjell http://raiseyourcreditnow.com/to-boost-my-credit-score-is-it-better-to-use-money-to-pay-off-a-federal-tax-lien-or-credit-debt/comment-page-1/#comment-3688 Anjell Mon, 01 Feb 2010 06:07:16 +0000 http://raiseyourcreditnow.com/to-boost-my-credit-score-is-it-better-to-use-money-to-pay-off-a-federal-tax-lien-or-credit-debt/#comment-3688 Alway pay credit card first because it has the higher interest rate. What you can do is approach both. Use whatever amount of money that will bring your credit balance current. If not the full amount then just enough so you're not over due. Apply the rest to the tax installment loan so that you reduce your debt to income ratio on both accounts. Alway pay credit card first because it has the higher interest rate. What you can do is approach both. Use whatever amount of money that will bring your credit balance current. If not the full amount then just enough so you’re not over due.
Apply the rest to the tax installment loan so that you reduce your debt to income ratio on both accounts.

]]> By: golferwhoworks http://raiseyourcreditnow.com/to-boost-my-credit-score-is-it-better-to-use-money-to-pay-off-a-federal-tax-lien-or-credit-debt/comment-page-1/#comment-3687 golferwhoworks Mon, 01 Feb 2010 00:09:27 +0000 http://raiseyourcreditnow.com/to-boost-my-credit-score-is-it-better-to-use-money-to-pay-off-a-federal-tax-lien-or-credit-debt/#comment-3687 pay the IRS first. then revolving to anout 30% of credit limit per card pay the IRS first. then revolving to anout 30% of credit limit per card

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