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Posted in Taxes
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meded317

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how much will my score increase by paying off my tax debt?

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Gov't liens hit your score hard!

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Consider them the worst kind of debt, Government liens and tax debt hurt you score hard on most the scoring metrix that lenders use.

From my own experience. The sooner you get those paid off and off your credit report, the better.

I inherited considerable tax debt on the family business when my parents died. My score plunged from the 750's to 485 in 1 month. That was 14 years ago. Today my FICO score hit a new high of 740's.  It has only been the last 2 years that I have actually been able to repair my credit after all the derogatory remarks and Leins fell off my credit report. 

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Nobody can answer your question as there are to many unknowns.

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