Hi All! I have 2 scenarios: 1.Hi All! I have 2 scenarios: 1. Does anyone have experience with owing the IRS for taxes? My boyfriend didn’t file last year due to owing a lot of money & personal reasons, so he filed it this year. He doesn’t have the funds to pay the IRS upfront, we know he will be getting hit with interest/penalty fees. We are also aware that payment plans are an option. So I guess my main question is, what are the monthly payments like (are they a percentage of what you owe each month to pay off in 12months, etc. )? If you’ve experienced this and don’t mind sharing, what we’re you penalty & interest fees like? 2. He has student loans that are going to collections, a small amount of only about 5k. Has anyone experienced their loans going to collections? Would it be best for his credit to refinance and do a personal or do a payment plan? We currently rent an apartment but are hoping to buy a house in about a year, so I’m not sure if having the new loan as a small debt is best. I’m also not even sure if he sets up a payment plan if it’ll hit his credit score as a delinquency. Thanks for the help!