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Tax liens in FICO score?

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Anonymous
Not applicable

Tax liens in FICO score?

I just settled a state tax lien - will my FICO score go up? Are tax liens and other public filings part of the FICO score formula?
Message 1 of 18
17 REPLIES 17
smallfry
Senior Contributor

Re: Tax liens in FICO score?



@Anonymous wrote:
I just settled a state tax lien - will my FICO score go up? Are tax liens and other public filings part of the FICO score formula?


Public record. I have the daily double. Worst combo to have. BK and a state lien. My lien is paid 5 years now so it only has two more to run. Not good for the score at all.
Message 2 of 18
Anonymous
Not applicable

Re: Tax liens in FICO score?

I understand these really kill your score. Less after time goes by.
 
Now that they are paid - you score could go down !!! As the date will update.
There are ways to remove these that are against TOS to discuss here at MYICO.
 
Tax liens are removed 7 years after paid.

davidpitts wrote:
I just settled a state tax lien - will my FICO score go up? Are tax liens and other public filings part of the FICO score formula?


Message 3 of 18
Anonymous
Not applicable

Re: Tax liens in FICO score?

There are ways to remove these that are against TOS to discuss here at MYICO. Tax liens are removed 7 years after paid.


how about some hints?

Message Edited by burstceo on 07-02-2007 11:20 PM
Message 4 of 18
chartley3
Frequent Contributor

Re: Tax liens in FICO score?

The affect of a tax lien will hurt less after the 2 year anniversary of the date released then slowly over time not matter as much. The main thing is you paid it off as with the exception of california would have remained on your CR indefinately if it wasnt paid.
Message 5 of 18
Anonymous
Not applicable

Re: Tax liens in FICO score?



Timothy wrote:
 
Tax liens are removed 7 years after paid.


This is correct for federal tax liens.
 
State laws may vary for their own tax liens which are imposed for different reasons (failure to pay state income tax, letting car insurance lapse, etc.)
 
Also if you pay any type of tax lien, make sure you get an official release of lien.
Message 6 of 18
inzaghi
Valued Member

Re: Tax liens in FICO score?

A Tax Lien from 2004 which I paid this year has mysteriously disappeared from my Experian.
I had disputed it in TU just for they heck of it and surprise surprise,they deleted it.
But I did not do anything of that sort with EX..But then..

EQ still shows the lien though
Any ideas?
Message 7 of 18
Anonymous
Not applicable

Re: Tax liens in FICO score?

What kind of tax lien ( from property of income taxes)?
 
I just entered a payment agreemnet with IRS for this past year income taxes owed- will thay place a lien on my CR?
Message 8 of 18
Anonymous
Not applicable

Re: Tax liens in FICO score?

It is unlikely they've put any sort of tax lien on you already for 2006 taxes owed, and I think you'd probably know if they had. If you check your credit and it's not already listed, I think it's probably safe to assume it won't be added later if you've agreed to pay according to a payment plan.
Message 9 of 18
Anonymous
Not applicable

Re: Tax liens in FICO score?

Thank you! I do paln on paying off the debt ASAP ( in full in 6 months) besides they have already informed me that they will take any future income tax return when I file and receive a refund. It is not on my CR as of yesterday when I pulled them.
Message 10 of 18
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