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How Do I Prioritize Paying Off Debt?

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westo12
Established Contributor

Re: How Do I Prioritize Paying Off Debt?

Depending on your existing financial situation, the IRS has a couple of options that may work.  Offer in Compromise is great, especially if you owe a lot and don't have a whole lot of resources and if your situation puts you in uncollectable status.  They also have a Penalty Abatement plan you can ask/apply for (not really advertised) that reduces a great amount of what is owed for failure to file/pay penalties.   Ask for EVERYTHING.  

Chap7 discharge 07/2015
Fico 5/1/19: TR:650(73% util)
Cap1(Plat+QS) 3500+4500/Merrick 1600/Express 4100/Overstock 4900.
Message 21 of 22
Anonymous
Not applicable

Re: How Do I Prioritize Paying Off Debt?

OH Westo12, THANK YOU, thank you, thank you. I was feeling so helpless against an entity like the IRS, and was, honestly, somewhat afraid to face this debt. I will look into your ideas ASAP! I can't thank you enough!
Message 22 of 22
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