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Hi Qiana and welcome to the forums.
I've moved your thread here because for some reason it had posted in the wrong area. All I have changed is the title. If you'd like to edit the title yourself go to "Options" and then "Edit Message".
MarineVietVet, myFICO moderator
I'm upside down on my house, bal is $271k, it's worth $170-$190k. Payments were refinanced to 30 year mortg 2 years ago and my payments went from $1850 adjust rate to $1566 fix rate of 4%.
I just received a 10K increase in salary for the year and I have 3 major bills to pay off IRS, BOA and house. My goal is to pay off IRS in 3 years I owe uncle sam $9.5k and BOA $2100.00. My question am I being to unrealistic about the IRS bill, should I just always pay the minimum of $170.00 until it's paid off or try to clear it up in 3 years?
What do you think?
Paying you're bills off quicker to avoid interest is always the better idea, but only if you're able to. I personally would pay off the smaller amount first then go for the larger amounts.
pay the irs first take it from me i know that if its one place you dont want to mess with its the irs! how old is your debt with the irs. keep in mind the older its is the more penalty you are being charged on top of the you are being charged interest every month.
If your goal is to bump your FICO® score, you might consider paying the CC debt first as it likely at a higher interest rate, and it negatively affects your CC utlilization, which also counts against your score.
Is the IRS on your credit report, either as a lien, or some kind of judement ?? If you are just in a payment plan without either one of these situations then it shouldn't be on your report, therefore it is not impacting your FICO® score at all.