| If you have a tax lien on your credit report, you | | | | validation. |
| should take immediate action to remove it. This is | | | | This means your tax lien will not be verified and |
| a very bad mark and will lower your score | | | | the bureau will erase it from your report. |
| considerably. | | | | However if this mark is incorrect to start with |
| The first step is to have the bureaus validate the | | | | you can demand proof that the account is yours, |
| lien. You need to send each bureau a dispute | | | | and send any documentation you have to prove |
| letter. | | | | your side. |
| It is not uncommon for wrong information to be | | | | Repayment |
| reported on your report. This is because mistakes | | | | The IRS and state government often accept |
| do happen and it is as easy as dialing a wrong | | | | partial payment. To propose this to them you will |
| phone number. | | | | make an offer in compromise, often called an |
| Upon receipt of your letter the bureau will | | | | OIC. |
| investigate the mark. They will contact the state | | | | The government will look at; your ability to repay, |
| or federal government and ask for verification | | | | your income, your assets, and what they expect |
| that the debt does exist. If it is verified then you | | | | to recover. Additionally it will help your chances of |
| will have to make some form of payment. | | | | acceptance, if you attach a letter showing financial |
| Depending on the amount you owe it may be in | | | | hardship. |
| your interest to contact a tax negotiator. This is | | | | It may be in your interest to hire a tax negotiator |
| because they can often negotiate a reduced | | | | to help with this. However you do not have to |
| payment for you. However you can also | | | | just live with this mark on your report. |
| negotiate directly with the government. | | | | In sum, take action today and get this lien off |
| These debts are collectible for 10 years. The | | | | your report. It will be hard to be approved for |
| negative mark will stay on your credit for 7 years | | | | credit with decent terms as long as this mark is |
| once it is paid. If it goes unpaid you could have a | | | | on your credit. Don't just wait seven years. |
| lien on your report for a long time. | | | | For more online credit repair tips or for a review |
| Upon payment you should wait around 3 months | | | | of Lexington Law a suggested credit repair |
| and then send another dispute letter to the | | | | service visit us. |
| bureaus asking for validation. We have learned | | | | Additionally if you would like a free credit |
| that once the government has received payment | | | | consultation call 1-866-246-7311. |
| they often will ignore a bureaus request for | | | | |