I just got an AmEx Green Card with an open unpaid judgement
me too.. and a 6.5yo foreclosure.. but those were the only negatives on my credit..
Common misconception on state tax liens. They fall of 7 years after they are paid off. if you paid it in 2010 it will be on there until 2017. They do not fall off 7 years after DOFD like credit cards.
I don't think the IRS is allowed to continue to report on unenforcable liens at least under the current statutes? Payment of a lien does not (unless you sign something like the IRS used to "require" you to do) necessarily extend the statute of limitations? I knew states were different and it varies by state, but that sucks.
Actually becaue it varies by state I sort of wonder at that one.
- Effective for 10 years or more - Once a lien is recorded, the lien continues in effect for 10 years unless extended for an additional 10 years (California Government Code Section 7172(b)).
That's right. It does vary state by state. Paid liens cannot report more than 7 years after payment under federal law so that's the max. However, for federal tax liens you can get them "withdrawn" by the IRS once you have fully paid them as long as you are up to date in your tax filings. Google "IRS Tax Lien Withdrawal" to get the process. It's free and is really the only codified pfd program out there.
I had a couple GA state tax liens that were fully paid off in 2008. I've been able to get several car loans, including one in 2009. Also, I've bought a house, gotten a few premium credit cards, etc... I wouldn't worry about it. Just behave responsibly from now on and you should be fine.