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You should definitely pay off the tax lien first. It is having a more drastic effect on your credit than the collections accounts especially since it is fairly recent. The collections accounts that are more than two years old, I would not touch at all. The reason behind this is this, when you pay off older collections what that does is it brings these accounts current making them factor in to you current credit report hence lowering your score. When i work with clients on getting them qualified with any lender I usually recommend leaving the older collection accounts alone, at least for the period of the inquiries. The formula that is used by the credit bureaus is quite complicated a sometiems counter intuitive. Also make sure you keep your balance at 30-40% of the available credit line. Hope this helps.
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