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Hello everyone, I am trying to build a home on my land and the bank is requiring me to get a tax lien removed that has a "0" balance. I paid this off in full back iin 2009, the bank rep gave me all the credit reporting agencies phone numbers and addresses today. Why should i have to request it to be removed if it has a "0" balance and shows paid?
I am totally confused as well regarding my credit score, depending on which agency to pull from some things are there and some are not. Also, the score can vary around 30 points or so. I currently am around 670-700 like I said, depends which agency. I am bummed that my score has NOT increased and I have no problem borrowing from my bank, I currently have 2 loans, 2 creadit cards, paypal credit and a truck loan.
What am I doing wrong that my beacon score does NOT want to go over 700????
Any advice would be MOST appreciated.
Sincerely,
Shadow65281
PS. Referred to this site from the "Veterans Benefits Network".
I have never been able to remove my paid tax lien. However, if they filed a lien for $0 against you, perhaps it was an error. Dispute it with each of the three bureaus.
Kevin,
The lien had an actual value between 1500 and 1700 I can't reember exactly how much. When I got my Social Security Disability approved I was able to pay this off with the retro payment from SSA. I will call them tomorrow and see how to this removed, I guess I don't understand why the "Federal" tax lien NO longer shows but the "State" is still there. I paid them both off at the exact same time and filed the paperwork with the county court house together as well.
I just don't understand how this will increase my beacon score if it is showing "0", the lender said that this is hurting me and by having it removed my score will go up slightly. Like I said, I have no idea but THANK you.
Shadow65281
The feds have an actual procedure to remove from your credit reports but unfortunately the states usually don't remove just update to paid. There is really no way to remove a paid state lein. You can search on here some people have been lucky but a very slim few. It is the thorn in my side too I have 10 of them showing from a mixup and they remain showed as paid but will not delete.
What state is your tax lien with? Also, it's weird that they are requesting you get it removed if its 0 balance. Depending on the state, it probably won't happen. I was able to get mine removed, but the state of MD has a removal process.
The reason it will improve your score is that it currently sits in the "negative remarks" section of your credit report. Even with a $0 balance it is negative because you had it at one point.
Removing it deletes the deroagtory (similar to getting paid collections removed, etc).