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How To Remove Tax Liens From Your Credit Report
Do you have a tax lien in your report that is dropping your score down? Many people still don't know how tax liens can be removed. Tax liens can be tricky when it comes to getting removed because it's not FCRA regulated in terms of leverage like a normal collection. Tax liens are backed by the government.
Removing tax liens
Many people in the credit repair industry have been straying away from tax liens for such a long time because, until 2017, you couldn't remove tax liens on credit repair report using FCRA misappropriation. Therefore, to remove your tax liens, here are the best steps to use.
Look for erroneous items
To remove tax liens, start by looking for any inconsistencies like wrong account numbers, wrong dates, wrong numbers, and wrong letters. Everything on your credit report has to be 100% accurate, 100% verifiable and 100% timely.
Make sure that everything on your credit report is 100% accurate. Go to the tax liens and see the credit bureaus they are being reported to. Match up all the information and put it into a bundle and compare and contrast all information to make sure it lines up. If it doesn’t line up, instantly have a factual dispute to go into.
Screenshot that factual dispute to have an account that’s wrong on Experian but right with Transunion and Equifax. Dispute that Transunion screenshotting the inconsistency it has from the other bureaus.
Survey your credit report on any erroneous items and make sure that everything is congruent by going through every individual item with every individual bureau. That’s the best chance to get the items removed.
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Withdraw the tax liens
Tax liens removal through withdrawal goes into two different stages i.e.
• Stage of release
• Stage of withdrawal
Releasing of a tax lien is when you paid the rest of the balance off on that tax lien and then they release that full payment to the credit bureaus and from that release date, you wait for 7 years to get the item removed.
Getting tax liens withdrawn is not an easy process, however, it's doable. It's the most accurate, best and most concrete way to get the items removed as fast as possible and not worrying about the item coming back.
To withdraw your tax lien, you need to go into either the two stages, i.e. go into the IRS and contact them for a program called the first start program. This program puts your tax liens in the status of withdrawal after you’ve satisfied it.
The first start program has two options of either paying the tax liens in full or making the tax lien payments in sequences.
If you choose to make the payments, you still have to make the payment in full to get it withdrawn. You can’t settle for any lower amount but you can pay the full amount in settlements.
Whether you go in sequence or in full amount, you will get the withdrawal notice and from there you can dispute the information with the credit bureau and tell them that the item has been withdrawn.
The above methods are the most simplified methods to help you remove tax liens from your credit report.
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