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Frequent Contributor
bakalao2k
Posts: 448
Registered: ‎02-21-2009
0

Re: Do you plan to use all of your tax return to pay off DEBT?

I won't be able to pay off anything, but I will apply most of my tax return to paying on my debt.
TU - 737 - 02/21/09, 769 - 02/06/10, 795 - 09/08/10
EQ - 758 - 02/21/09, 783 - 02/06/10, 805 - 09/08/10
EX (PLUS) - 781 03/23/09, 787 - 02/06/10, 783 - 08/09/10
Regular Contributor
Not_the_Point
Posts: 187
Registered: ‎01-20-2008
0

Re: Do you plan to use all of your tax return to pay off DEBT?

I'll probably save it for a rainy day. No debts to speak of right now, though I'm about to buy a house so there's a good chance it'll go into some minor repairs and such as those come up :smileyhappy:

8/27/10 -
TU FICO 768
EQ FICO 763
EX PLUS 732

Regular Contributor
Posts: 109
Registered: ‎04-30-2008
0

Re: Do you plan to use all of your tax return to pay off DEBT?

I have some debt so I used the majority of it to pay off 3 credit card balances I was carrying.  Should see a boost in my scores very soon!

 

However, every year I try to treat myself to something with my taxes so it is paying for my vacation :smileyhappy:  If I could, I would adjust my withholdings and take that money right away each paycheck, but my employer takes out more of my commission check (I work in Sales), so it's hard to estimate the best withholding.


Starting Score: 703
Current Score: 7/8/10: TU - 738 EQ - 750
Previous Score: 1/22/10: TU - 703 EQ - 714
Goal Score: 750


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Established Member
kingkong68
Posts: 22
Registered: ‎01-02-2009
0

Re: Do you plan to use all of your tax return to pay off DEBT?

http://www.cnbc.com/id/35563653
Community Leader
Senior Contributor
laz98
Posts: 4,334
Registered: ‎09-06-2008
0

Re: Do you plan to use all of your tax return to pay off DEBT?

i wish i had a return to spend!  we are going to owe money.
Latest scores: Walmart TU: 769. MyFICO TU: 769. DCU EQ: 716. MyFICO EQ: 780. PSECU EX: 756. MyFICO EX: 780.
Established Member
madratmedia
Posts: 35
Registered: ‎02-23-2010
0

Re: Do you plan to use all of your tax return to pay off DEBT?

I only had about 1200 in debt but yes I did pay it off with taxes :smileyhappy:
Established Contributor
beenthere
Posts: 971
Registered: ‎01-13-2008
0

Re: Do you plan to use all of your tax return to pay off DEBT?

Large tax refunds are like a big ball of cheese that sits in a dark corner for a year. The inflation mice just hack away it it untill you find it at the end of the year. Mean-while, one keeps accruing finance charges with the exterminater while spending the year trying to figure out why there are more and bigger mice populations around the house as the year progresses.
1-14-08....... TU=683, EQ=667, EX=666
7-04-08....... TU=688, EQ=678, EX=682.......
.......4 of my 5 cards and a new car later.
2/13/09 and forever EX 693
Established Member
Gnut
Posts: 23
Registered: ‎04-21-2009
0

Re: Do you plan to use all of your tax return to pay off DEBT?

I have a son that was born in 08 and I was expecting his mother to file him so I never changed any tax info with my employer. Im getting back 4500 so im happy. Ive taken tax classes in college and ideally, at the end of the year you shouldnt have to pay anything in or receive a refund either. That is the perfect scenario, so you should change your dependents and witholdings accordingly but im sure most people are in the  pay in or receive a refund back category. Neither is better than the other imo, but as far as the ops question of course in gonna pay off some debt but im not using it all for that reason alone. Have to do something nice for my baby and something for me as well.
Established Contributor
Posts: 739
Registered: ‎06-30-2007
0

Re: Do you plan to use all of your tax return to pay off DEBT?

the returns are goings to smaller if after you pay back all those taxes they haven't been holding out last year
People say "Only apply for credit you NEED"

I say "apply for credit you have PRATICAL use of"

I don't have AMEX card because I don't want a card that suffers from PMS

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