Tax Lien

[NLYTN]

Wanted to know if anyone has had any experience with tax liens. When paid off will that improve your score or will yu have to wait until it falls off your report?

[titanofold]

Paid is better than not with a manual review. I'm not certain about score impact.

Is this a State or Federal tax lien? If State, which state?

[Anonymous]

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@NLYTN wrote:

Wanted to know if anyone has had any experience with tax liens. When paid off will that improve your score or will yu have to wait until it falls off your report?

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Your score will not improve when it's paid off. I have one from March 2008, that I finally got paid off in March this year. No score bump when it reported paid. But, it vanished from one report, (TU), in late February and the score increase was huge.

[Anonymous]

If FED, paid off or released will not impact score. Will have to age off or get FED to withdraw it to get it removed. Check Fresh Start program and filing for Lien withdrawal using FED form 12777 or 12555. Something like that.

[Anonymous]

Captool what kind of increase did you see when your lien fell off tu. I have one coming off in November and was wondering what I might expect.

[Anonymous]

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@Anonymous wrote:
Captool what kind of increase did you see when your lien fell off tu. I have one coming off in November and was wondering what I might expect.

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Jumped from 719 to 796.

[OMW2_HighAcheiver]

CK updated fir me today and a Michigan tax lien is gone. ?? Any idea why? I am paying on it monthly. Should I search to see if it shows as public record? If not, what do I do to get it off other reports?

[Anonymous]

After reading my previous post above, I realized that it could be misinterpreted. By not impacting score, I meant that a paid or released Lien will not raise your score from the damage of the Lien itself until removed or withdrawn.

[Anonymous]

CK will have occasional breaks in reporting a tradeline. Do you know the date it is supposed to be removed?
There are threads on myFICO about removing a tax lien in the rebuilding subforum and on missing tradelines on CK. Pull a report on myFICO or from freeannualreport.com to be sure.
Good luck!

[OMW2_HighAcheiver]

Not supposed to come off until 2017. But I do know that once paid, it remains