IRS Lien Removal

[Anonymous]

Hi, can someone provide some background for me.  I am paying on a a payment plan until 2014.  My Fed Tax Lien states that unless it was re-filed by 12/2011 then it is considered Released..  Can I request the CRAs update my file to show it is released and will that help any in getting a home loan?  I don't think the IRS will do anything while I am still paying, so I don't want to go through them.

[ficojoe]

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@Tropikal wrote:

I would like to see others comments on how this improved their CSS.  Very few have said how much this has helped their credit scores and the ones that did said, said it wasn't for much 6-20 points.

I do have two paid IRS liens, both released in 12/11, and I'm going to request withdrawal as stated on this tread for sure, I need every little point I can get . But  just makes me wonder if is worth the effort to have it withdraw. 

Anybody seen the scores jumped by doing the IRS Lien Withdrawals?

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I had no score increase at all. However, it was commonly the #1 denial reason for me. I suppose approval is more than a score. No pulic records is a very good thing.

[Aspireto850]

I just got my approval letter so waiting on CR deletion.  sure hope I get 15-20 pts increase

[ficojoe]

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@Aspireto850 wrote:

I just got my approval letter so waiting on CR deletion.  sure hope I get 15-20 pts increase

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After I got my approval letter I went to the courthouse website and downloaded the filed withdrawl form, then I mailed that form to the three CRAs. EQ and EX deleted very quickly, I am still waiting on TU. I've read accounts of people faxing this in and having it deleted next day. 

I mailed by form in on 8/25 to all three CRAs. It was deleted around 9/29 from EQ and EX. So, probably right after they got it. TU seems to be mad at me. Perhaps I made their "priority" list.

[westo12]

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@gre0481 wrote:

California Franchise Tax board was able to remove my lien for State Tax within 24 Hours.  I just contacted their  800 number.

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gre0481, they removed your paid tax lien completely from your credit report??

[westo12]

So it sounds like it my OIC is approved, I can expect a released tax lien to sit on my report for the next 10 years and not withdrawn, is that correct?  

[09Lexie]

I submitted my forms for 3 federal tax liens that have been on my bureau since 09 on Sept 11, 2012.  I received the approval along with a 'faxed withdrawal' (based on the cover letter it was the actual documents sent to each courthouse/agency)  forms on October 5 and a second set of documents Form 10916A  which read 'keep in a safe place' on the back  of each form on October 10th. all forms were dated October 1,  2012.  

I used the 'faxed' withdrawal forms along with their cover letter which stated ' you may present this form to any credit reporting agency, financial institution, or creditor you deem appropriate'. 

I mailed them to Experian because they usually give me the hardest time.  I faxed them to Equifax and TransUnuion.  Will update any credit score increases.

[diabla]

Has anyone found real information on how this applies to state taxes?  I can't find anything that says states will withdraw paid or unpaid liens from your credit report.

[eharley0142]

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@diabla wrote:

Has anyone found real information on how this applies to state taxes?  I can't find anything that says states will withdraw paid or unpaid liens from your credit report.

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Totally depends on what state you're talking about. I was successful in having California withdraw a tax lien but there were extenuating circumstances and was definitely a case-by-base decision.

A couple years ago, someone in the California legislature proposed a bill (SB 228) that would enact a state policy on withdrawal of paid tax liens similar to the new IRS policy. As far as I know, it has not been enacted into law.

[dpittsmd1985]

I just had my liens notice withdrawan by the Fresh Start process from the IRS. I applied in January and got my notification of withdrawal last week, sent the forms on to the CBs..... Just waiting for them to remove the liens altogether. They were paid off last year...still reporting on my report ...even though reporting as "satisfied"...still a black mark. Good luck!