update cra/drop off lien....

[makeynik]

hi there...love all the info here...
I disputed a paid tax lien as being old...(10 years and still reporting)...so asked for its removal...
it was online with some and I mailed the others and I am wondering about how long for the cra's to update something like that? it was about June 20th when i did it...

[Anonymous]

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makeynik wrote:
hi there...love all the info here...
I disputed a paid tax lien as being old...(10 years and still reporting)...so asked for its removal...
it was online with some and I mailed the others and I am wondering about how long for the cra's to update something like that? it was about June 20th when i did it...

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They have 30-45 days to conduct their investigation.

[RobertEG]

The date that governs inclusion of a tax lien in your CR is the date that the lien was paid.  It is simply illegal for them to continue to report a tax lien after 7 years from date of payment.  However, if the lien has not been paid, it may stay on your CR forever.

FCRA § 605. Requirements relating to information contained in consumer reports [15 U.S.C. § 1681c]

(a) Information excluded from consumer reports. Except as authorized under subsection (b)

of this section, no consumer reporting agency may make any consumer report containing

any of the following items of information:

....

 (3) Paid tax liens which, from date of payment, antedate the report by more than seven

years.

Message Edited by RobertEG on 07-07-2008 09:10 PM

[Anonymous]

I agree, Robert, but it's unclear from the OP's post whether the lien was paid 10 years ago, or whether it was only filed 10 years ago.  It's entirely possible that it was filed 10 years ago but only paid less than 7 years ago, in which case it may continue to report.

[RobertEG]

makeyniik, what cheddar says is true.  You did not say in your post when the lien was PAID.  When it was recorded is irrelevant to drop off.  It is only the payment date of the lien.