5 Tactics To Remove Tax Lien

Clean Your Credit Remove Tax Lien

When people find out that a tax lien has been filed on their name and property, the first thing they should do, is find how to remove tax lien from credit report. The tax lien should be a troubling issue on your credit report! Tax lien damages your credit score and risks getting denial for any mortgage requests. Not fixing your credit record will cause tax liens showing up on your credit or against your property.

Tax lien can be filed against you in cases that you carry a long tail of unpaid bills and IRS  (or other government agencies) debts. Once it is there many people feel trapped. Tax lien can be found on your credit report even up to 7 years after it was already paid! So removing any signs of tax lien from report should be your first priority when fixing your credit report.

Not Removing The Tax Lien

Doing nothing and waiting for ten years for the Tax Lien to be expired is very risky strategy as it can be extended.. and in the mean while you can grow old and not get any credit services from lenders, and even when it is expired the credit records will show it was there for 10 years… But do not count on that the IRS will forget about you… The IRS will always find you! They will be always some step behind you (and your credit will show the tax lien) until you pay them off or they will still try to get their money from your estate. Choose you ‘enemies’ wisely.

Pay The Taxes Due To Fix Credit Report

When you think of it, the reason that the tax lien was filed against you was because some kind of federal taxes where not paid on time and may have been ignored by you for what ever reason. The federal agencies and the local county only wants the funds they deserve to be paid back.

So the first real tactic to fix the credit report will be to pay all due taxes. Once you are cleared and have the proof that all debt and taxes are fully paid, the tax lien should be removed within a month (30 days). Only you can get the tax lien removed from your credit record.

Removing The Tax Lien From Credit Report

To remove the signs of the tax lien from your credit report, you need to submit a duplicate copy of your request with full details to all of the big three, TransUnion, Equifax and Experian. You have the right to dispute any inaccurate or misleading credit in your credit reports, and once you have paid the tax lien then you are rightfully entitled to have it erased from your credit report by the Fair Credit Reporting Act.

The do not really care if the information they are holding is correct or up to date, they earn their money when they sell it to lenders and financial institutes that need this information to process financial issues with you. The best way (and expensive way) would be to find a credit repair company, which will send those request in your name for a nice fee.

There is also an option that you fix your credit by yourself, using some on-line tools or with the aid of credit repair university that costs a fraction of what the credit companies will be costing you.

Offer in Compromise To The IRS

The IRS have thousands upon thousands of people whom they file tax liens and expect to collect money from. But there is fact you should know, that except the formal notice the law abides them to send any other action cost the IRS in expensive funds. It cost them so much that the IRS in many cases prefers not to begin the legal letters and lawyers threats to collect the money, they can wait doing nothing till the tax lien expires after ten years.

On the other hand, waiting till the IRS tax lien expires is a bad strategy for fixing tax lien from credit report. And since the IRS will not make the first move.. You should!

You have an option you can take advantage of what is known as ‘offer in compromise’. You offer to pay a smaller sum of money to the IRS and request them to remove the tax lien in exchange. As was explained here, since the in some cases have no funds to collect the due taxes themselves, they might agree to get ‘some’ money instead of ‘nothing’ for ten years.

Make sure you calculate carefully with a tax professional the amount you plan to offer. Any reasonable amount may grant you a positive reply, and you will be paying much less to remove the tax lien and fix your credit.

Temporary Removal of Your Tax Lien

This is actually not a fix report tactic but an option some people do not know, that they can request to just temporarily remove the tax lien. This temporary freeze of the tax lien penalties are made for people who need to sell or refinance their property.

The IRS has a direct interest that the people who owe money will be able financially to pay back, and for this reason the IRS will be allowing the temporarily lift of the tax lien to allow the real estate deal to go forward and be closed. Once people have funds they can pay the due taxes and everyone is happy. For this action you can seek a professional tax attorney even though tax attorneys (like any attorney) will charge you high fees, if you do not want to deal with the IRS directly than it might be the best move.

DIY Clean Tax Lien From Credit Report

Getting the credit report score up, is a mission you should handle seriously, as your whole financial future and freedom is held by this report, it is worth to do all you can to fix your credit. What ever you plan to pay the credit repair companies, even if it gets to $500 or more think of it as a pure investment, that will save you much more money in the future.

If you are short on cash or just do not like to pay inflated fees for something you can actually do alone, you can use credit repair university to fix your credit score. Like every on-line solutions it will not only cost you less but once you purchase it you get plenty of videos and tutorials to guide you through. Unless you have no budget limits, a credit repair guide is actually the best solution for self credit repair.

So What Is Your Next Step?

Every week you are wasting money.. sending dozens of dollars to the rich credit companies, who relay on you to keep doing NOTHING.

If your score is below 700, you might want to do something about it – get this Credit Repair University’ which will save you money and time.

Yes, you might need to invest a small sum to get a grip of things.. But if you think education is expensive.. try ignorance..

You are probably paying thousands of dollars per year in fees and interests to credit companies which could be going straight to your pocket.

So do your math… and take action NOW.