@Anonymous wrote:
Hello all so back in November 2015 i sarted working on repairing my credit. I was able to get an Secured card from NFCU, and Capital One platinum, and Unsecured credit cards Military star, and Capital One Quicksilver One. I started off with credit scores in the Mid 450s, and now 5 months later have worked my self to 610s across the board. My only issue now is this federal Tax lien of 1,148$. i assume it is paid due to my income tax back in 2012 haveing a lien placed on it. right? so i tried to get it removed but was told it will be stuck on all three of my credit reports for 10 years Ie; untill 2020. is there anyone out there in a similar situation or had a similar situation that can help me get this removed? it is the only thing in my way to establishing my credit, and its driving me cravy. thank you.
First step would be to call and make sure it's paid. Apparently there is a program where if you meet certain requirements you can apply to have the lien removed. This info came from credit.com.
You can qualify to request your lien be withdrawn, if:
- Your tax liability has been satisfied (you’ve paid what you owe) and your lien has been released;
- You are in compliance for the past three years in filing your individual and business returns, and information returns (as applicable) and;
- You are current on your estimated tax payments and federal tax deposits, as applicable.
Even if you haven’t paid the IRS what you owe, you may be able to qualify for this program if you currently owe $25,000 or less and have entered into a direct debit installment agreement where your payments to the IRS are taken from your bank account automatically. There are other requirements you’ll need to meet, including that you have made at least three direct debit installment payments successfully and that you have not defaulted on a previous installment agreement. The IRS has the full list of qualifications.
If you believe you qualify, fill out IRS Form 12277, Application for Withdrawal. It’s a fairly simple one-page form, with one page of instructions. Complete it and send it to the IRS per their instructions. If the IRS approves your request, it says it “will file Form 10916(c), Withdrawal of Filed Notice of Federal Tax Lien, in the recording office where the original NFTL was filed and provide you a copy of the document for your records.” This means you will have a written record that the lien has been withdrawn.
You can ask the IRS to then notify the credit reporting agencies of the withdrawal, or you can supply that notice to them yourself. Once the credit reporting agencies process your request, the lien will be withdrawn and your credit report and scores will treat it as if it never existed.
Note that this is not a process you need to pay a credit repair firm to do on your behalf; it’s something you can handle on your own. If you normally work with a tax professional, you may ask them to help, but even that may not be necessary in most situations.
Starting Score: EQ 434 TU 499 4/29/10