No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
I had three public records. a BK from December 2009, a NYS tax judgment from 2010 and a Fed tax lien from 2011
I recently had the NYS judgment vacated. I see that it is gone from the reporting Bureaus, but it had no positive affect on my report. That was disappointing.
i am assuming that it's because the bureaus look at the date of the latest public record and base their reports on that?
I am working to get the federal tax lien withdrawn as well...
Any thoughts would be much appreciated
@MikeRebuild wrote:I had three public records. a BK from December 2009, a NYS tax judgment from 2010 and a Fed tax lien from 2011
I recently had the NYS judgment vacated. I see that it is gone from the reporting Bureaus, but it had no positive affect on my report. That was disappointing.
i am assuming that it's because the bureaus look at the date of the latest public record and base their reports on that?
I am working to get the federal tax lien withdrawn as well...
Any thoughts would be much appreciated
Your FICO score likely didn't improve because the BK and the lien are major derogatory items which will keep your score down until they are gone.
Do you think it will go up when the federal lien is removed? Even with the BK still on the report?
@MikeRebuild wrote:Do you think it will go up when the federal lien is removed? Even with the BK still on the report?
Probably not, the BK will keep your score down by itself.
it was almost 5 years ago. doesn't it start to have less of an effect as time goesd by?
@MikeRebuild wrote:it was almost 5 years ago. doesn't it start to have less of an effect as time goesd by?
Yes, but to a minor extent. Major derogatory items will hurt your FICO score as long as they're present.
i am not that far away from 700. i am at 687. i am hoping i can just squeeze a few points out to get to 700 by getting rid of the lien, making payments on time and hoping the derogs have less and less of an affect
I have 6 public records. 3 federal tax liens, 2 state along with one BK. I'm planning on paying off the two state liens in the next few weeks. I'm wondering if the numbers on my reports will change. One of those liens is the most recent on my reports. It's from November of last year. The other is the oldest on my CRs. That's from 2009.
Like you, I've been on the quest for 700. I barely got over that mark last October (EQ 04 - 702). Then I saw a 20 point tumble which looks to be right around the time that the most recent lien was reported. I looked at other factors but don't see that my reported balances jumped up to be the cause. My scores gradually started to climb as I paid down balances and only allowed one card to report with single digit utlization. But no matter what I do, I can't get over 699. It's just stuck there. My TU score is stuck at 662. It won't climb any higher no matter what I do.
I think one of the reasons for the different in those two scores is all of my liens and the BK are reporting on TU. One lien isn't reporting on EQ and one lien isn't reporting on EX (different lien - strange).
I've wondered if you get to a point where you have "x" number of public reports then more doesn't matter. And when you have that many, maybe a few less won't matter either.
I'll post results after those two liens are taken off of my reports. I hope they do it fairly quicky after I pay them off.
they wont come off your public records because they were paid. they will go to "satisfied" status and will not change your credit score. it wiill drop off after about 7 years. you can try and have them vacated, which would then take them off your public record. i hired a tax attorney to do that for me. but sinc i have other derogs, it apparently didnt effect my score
I thought the standard practice, at least for the members here, is to have liens removed from their CRs after they are paid?
I took a look at the amnesty program on my state's website and found this info -
23. What if a judgment and/or lien has been filed against me, or my wages are being garnished, because of past due taxes?
If you pay the amnesty balance due using the Tax Amnesty Bill Number, any related judgments, liens or garnishments will be released once amnesty is approved.
I might be wrong but I took that as the liens would come off of my report. I'm going to give them a call today to see if I can walk into one of their offices to pay them. I'll see what they say removing the liens after they are paid.