a neglected federal tax lien on ones credit report can cause serious problems with Now look, the mistakes you find might be more serious than an address that does not belong to you or the misspelling of your name. Were you aware that the Fair Credit Reporting Act grants nearly any consumer the opportunity to dispute inaccurate or unrecognizable information found in their credit reports?
You can file the dispute with the tax lien by mail, on the phone, and even online.
This is a mistake that can hinder your chances of establishing a decent beacon score.
Annoying tax liens stay on your credit for a period of seven years after they are paid. Many people prefer to pay on their tax debt and give the IRS lien enough time to be removed from their credit reports. Leaving a tax lien unpaid will result in it remaining on your report for fifteen years. The lien can only be enforced for ten years unless the IRS renews it. I’m sure it sounds familiar. Paying off the tax debt will result in it being on your credit for seven years thereafter. That’s interesting right? It does happens on that’s highly unlikely. You see, there’s a small time period revolving around the ‘tenyear’ mark where paying off your tax debt will lead to it staying on your credit for a longer time period.