Tax Lein falls off soon. FICO Increase?

[Revelate]

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@masscredit wrote:

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@FireMedic1 wrote:

UPDATE: My tax lien fell off EX early and it was a 6 point gain. So it is 7 years from the date the lien was filed is when the clock starts. Not the release date.  All back taxes were D/C'ed in my BK last year. Now I just have to wait for August for TU and EQ to remove the lien. All I can say is...Whew! Fresh start from 560's to 723 on EX. What a relief!

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Congratulations on your progress!  I'm wondering about the 7 year release date. I thought the clock starts after its released and not after its filed. Maybe you got lucky?

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The only date that matters is when it was filed; 10 years from that date if unpaid, 7 years from that date if paid... and it doesn't matter when the lien was paid.  All 3 of the bureaus work this way at this point from what I've been able to ascertain and all of my tax liens have behaved this way (unpaid and paid ones).

Tax lien filed in 2000, paid in 2005, falls off in 2007; if unpaid, 2010 (assuming not refiled which is kinda rare for most places, CA maybe with their 20 SOL).

[FireMedic1]

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@masscredit wrote:

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@FireMedic1 wrote:

UPDATE: My tax lien fell off EX early and it was a 6 point gain. So it is 7 years from the date the lien was filed is when the clock starts. Not the release date.  All back taxes were D/C'ed in my BK last year. Now I just have to wait for August for TU and EQ to remove the lien. All I can say is...Whew! Fresh start from 560's to 723 on EX. What a relief!

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Congratulations on your progress!  I'm wondering about the 7 year release date. I thought the clock starts after its released and not after its filed. Maybe you got lucky?

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No. I was no asset Chap7. By law they had to release the lien 30 days after the DC if there are no assets they can grab. Which they did. I  tried the early withdrawl form 12277 and was denied due to BK. The release form and CRB's show paid and released on 8/2009. What I owed was wiped out.

So the 08/2009 date if the lien filed date is in way the date of satisfaction. EX showed after the release last year 05/2016 removal. TU and EQ show 08/2016 removal dates. You can see it on your CR's when it's scheduled to be removed which EX did yesterday. I tried calling EQ and TU for EE but didnt budge.

[FireMedic1]

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@Revelate wrote:

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@masscredit wrote:

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@FireMedic1 wrote:

UPDATE: My tax lien fell off EX early and it was a 6 point gain. So it is 7 years from the date the lien was filed is when the clock starts. Not the release date.  All back taxes were D/C'ed in my BK last year. Now I just have to wait for August for TU and EQ to remove the lien. All I can say is...Whew! Fresh start from 560's to 723 on EX. What a relief!

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Congratulations on your progress!  I'm wondering about the 7 year release date. I thought the clock starts after its released and not after its filed. Maybe you got lucky?

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The only date that matters is when it was filed; 10 years from that date if unpaid, 7 years from that date if paid... and it doesn't matter when the lien was paid.  All 3 of the bureaus work this way at this point from what I've been able to ascertain and all of my tax liens have behaved this way (unpaid and paid ones).

Tax lien filed in 2000, paid in 2005, falls off in 2007; if unpaid, 2010 (assuming not refiled which is kinda rare for most places, CA maybe with their 20 SOL).

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Exactly

[Anonymous]

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@masscredit wrote:

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@FireMedic1 wrote:

UPDATE: My tax lien fell off EX early and it was a 6 point gain. So it is 7 years from the date the lien was filed is when the clock starts. Not the release date.  All back taxes were D/C'ed in my BK last year. Now I just have to wait for August for TU and EQ to remove the lien. All I can say is...Whew! Fresh start from 560's to 723 on EX. What a relief!

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Congratulations on your progress!  I'm wondering about the 7 year release date. I thought the clock starts after its released and not after its filed. Maybe you got lucky?

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I also used to think that until my tax lien started vanishing from my files, even though it had just been paid off. Revelate is correct about how it actually works.

[RonM21]

OP, either way it is progress towards the uttimate goal of a clean file. So, good on taking the next step!

[masscredit]

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@Revelate wrote:

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@masscredit wrote:

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@FireMedic1 wrote:

UPDATE: My tax lien fell off EX early and it was a 6 point gain. So it is 7 years from the date the lien was filed is when the clock starts. Not the release date.  All back taxes were D/C'ed in my BK last year. Now I just have to wait for August for TU and EQ to remove the lien. All I can say is...Whew! Fresh start from 560's to 723 on EX. What a relief!

---

Congratulations on your progress!  I'm wondering about the 7 year release date. I thought the clock starts after its released and not after its filed. Maybe you got lucky?

---

The only date that matters is when it was filed; 10 years from that date if unpaid, 7 years from that date if paid... and it doesn't matter when the lien was paid.  All 3 of the bureaus work this way at this point from what I've been able to ascertain and all of my tax liens have behaved this way (unpaid and paid ones).

Tax lien filed in 2000, paid in 2005, falls off in 2007; if unpaid, 2010 (assuming not refiled which is kinda rare for most places, CA maybe with their 20 SOL).

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I'm looking at the liens that are filed at my local registry of deeds.  The big one shows a date of assessment of 11/3/08. Last date for refiling is 12/3/18.  The next one is 10 month later followed by a small one 2 years after that.  Hoping to eat up the time so the (very) big one will go away.