Fix my credit fast, remove tax lien from credit report in 4 easy steps get your free removing tax lien credit report guide to credit repair and legally get out of debt, Today!
Do you want to remove a tax lien from your credit report? A tax lien on your credit report will definitely hurt your chances for a loan to buy a home, business, car, boat or any other major purchase. It may also prevent you from obtaining credit cards.
Unfortunately, tax liens may not be erased from your credit report until the taxes have been paid for seven years.
However, a past lien isn't nearly as damaging as a current tax lien. That’s why you must be certain every credit bureau updates your credit history to show that your outstanding tax liens have been fully paid and discharged.
Once you have fully paid your taxes, the IRS must send you a Certificate of Release of Federal Tax Lien (Form 668Z).
Tax lien on credit report, you must receive a certificate for each office that has a lien on file. This may include the clerk of your city, town or county, the Federal District Court nearest where you reside, and wherever real estate transactions for your locale are recorded.
To ensure that you obtain a Certificate of Release for each lien filed, you must conduct a complete lien search.
If you have moved, there may be liens filed where you originally lived. There may also be several liens for the same tax liability filed in the same place. This commonly occurs if your tax problems extend over a number of years.
Once you are satisfied you have identified all the recorded liens, make certain the IRS files a Certificate of Release for each lien. Don't assume the IRS will do this on its own. Frequently it doesn't. You must be diligent in following up on this and remove tax lien from credit reports now or state tax lien credit report, you'll have outstanding tax liens that will haunt you for years.
Review your credit reports. For each recorded lien that is not noted as discharged, you must insist that the reporting agency contact the IRS or check the public records to confirm that the lien has been released.
You may also send the credit bureaus copies of the Certificate of Release of Federal Tax Lien. Follow up to make sure your credit report reflects the discharge of all tax liens against you.
You can even help your credit picture if you are only now resolving your tax problems.
For example, if you pay the IRS in installments, then your credit report can reflect the anticipated discharge of your lien because an agreement has been reached with the IRS. You can submit a statement to the credit bureau and insist that it accompany your credit report.
It is possible to erase existing (and unpaid) tax liens. <Remove tax lien from credit report by following the same strategies used for erasing other negatives. If you challenge a tax lien, the government does not always substantiate the lien within the required 30 days.
In many instances, the government won't respond to the credit bureau for 45 to 60 days. Nevertheless, since the documentation was not provided within the required 30 days, the credit bureau must delete the tax lien notice and cannot later reinstate it.
You will be most successful if you attempt to remove tax lien from credit report only after your tax file has been transferred to the governmental archives.
This transfer usually takes about a year. Having your tax file in the archives often increases the turnaround time to retrieve the records beyond the required 30 days.
Remember that even one outstanding tax lien can ruin your chances for credit. Remove tax lien from credit report, Today!
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Disclosure: I am an independent Credit Repair Cloud™ Affiliate, not an employee. I receive referral payments from Credit Repair Cloud. The opinions expressed here are my own and are not official statements of Credit Repair Cloud.