How can credit be fixed after being hit with a federal tax lien?
A federal tax lien from the IRS can be one of the most destructive negative items that individuals can see hit their credit reports. Not only do they damage credit scores, and haunt individuals for years if left unchallenged, but can scare off future creditors and lenders more than bankruptcy and foreclosure. So how can individuals help their credit and financial futures bounce back after this happens?
Federal tax liens can be filed against individuals in a number of scenarios. Normally, this comes after the IRS considers an individual has refused to pay the income taxes they owe. However, tax liens can also appear out of error, be filed too fast, or if individuals are accidentally sent larger than due tax refunds.
There is a lot that can be done to head off tax liens in advance. Even if individuals are years and tens of thousands of dollars behind on taxes talking to the IRS, or trying to work out an installment payment plan can avoid being levied with a tax lien that shows up on credit reports.
If liens are filed in error, or based on misinformation a professional could help you get them removed, clear your good name, and restore your credit rating.
Tax liens can also often be settled for a fraction of the amount owed, and can be challenged to be removed after a certain amount of time. Again, even though this may appear impossible as an individual, and during times when the IRS has admitted few will even be able to reach them by phone, an expert in these matters can get results.
Whether justified or not, whether paid or not, much of the battle to come back from a tax lien and other negative credit is about rebuilding new credit and re-establishing a good credit rating. A credit repair expert can help individuals obtain new credit lines, and re-grow their creditworthiness quickly. It’s all about taking action and leveraging experts that do this every day.
So talk to one of our experts, get an Credit Repair Program Personal Credit Consultant, and get on the right track today…