I have
50k IRS DEBT
35K CREDIT CARD DEBT TOTAL WITH INTEREST RATE 12%
50K PERSONAL LOAN WITH 10% INTEREST
WHICH DEBT SHOULD A PAY OFF FIRST
I have NO idea, but gut reaction tells me I would not want to owe the IRS.
I agree about paying the IRS. If you have not done so, I would recommend contacting the IRS to work out a payment schedule.
For the remaining debt, it is generally recommended to pay off high interest debt first.
It seems that you have a viable pathway to pay off your debt and not have to consider bankruptcy. As @JPW050 mentioned, paying off the highest interest debt first is recommended. Consider working with a Credit Counselor at nfcc.org. They apparently have negotiated lower credit card interest rates with some of the credit card issuers. If you DIY you can use powerpoint.org for calculation of your monthly payments and to see how much you will lower your total interest paid by paying off the highest interest debt first.
I already setup a payment plan with irs
IRS all the way - those people have guns and legal authority to do all sorts of nastiness. I just saw your last comment - I would hope you negotiated with the IRS to reduce that debt. If not, I’d revisit that issue.
As far as the other debts - pay the minimum allowing you to focus on the IRS. That said, do not lose one bit of sleep over the other debts. I’m dealing with a boatload of debts with my mom and sisters estates. They have all been written off to credit collector for 5 cents on the dollar. Once you get the IRS happy - get some counsel, but make an offer to the collectors. You’ll save at least 50% of the debt.
Hang in there
I’m no expert that being said , I would set up a re-payment plan with the IRS and also pay down the credit card simultaneously.