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tax lien question

New Visitor

tax lien question

My FICO score is 662.  The one negative item I have on my report is a tax lien.  How much does this tax lien reduce my score. 
Message 1 of 4
3 REPLIES
Senior Contributor

Re: tax lien question

Probably a lot, as tax lien's are secured and recorded at the court house. A good score for a cr with a tax lien on it, imho. I have one too. a fed one Smiley Sad
"Never ever, ever be late. Never" (FUTR)
Message 2 of 4
Established Member

Re: tax lien question

Well, now you know there are at least three of us in the same boat! (Lucky us!) My tax lien got placed in "non-collectible status" by the IRS after my BK filing. However they won't release it! They cannot collect on it - it met the criteria for being a dischargable obligation - but it sits there and I think it's probably a 50 or 70 point hit on the report. Maybe less, but in that range. I've been arguing with Experian and Trans Union to remove it because of the "non-collection" status from the IRS. I have sent them the letters, etc. Got it blasted off on one burea but cannot get it off the other two! I'll keep trying. Lots of these things seem to be subjective depending on who answers/deals with the problem. So what one will refuse to do, the others may do willingly... ya never know! Keep hammering on them - politely - about every 45 daya or so. Persistence sometimes works where nothing else does. M
Message 3 of 4
Senior Contributor

Re: tax lien question

same here mark "uncollectable"! And you were able for one CRA(credit reporting agency) to remove it? wow! wtg! how on earth did you work that magic? when I talked to IRS they said the collection process has stopped, but the lien will continue hoping I'll be able to pay on it.....sometime in the future. I really cannot argue with that argument, but the tax lien I'm sure is putting a major hickey on our credit scores.
"Never ever, ever be late. Never" (FUTR)
Message 4 of 4