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Posted in Taxes
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bgdurl

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tax lien on report?
an offer in compromise was settled and paid in june 2012.and still appears on my report?

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Takes time.

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A credit report tells potential creditors how yo uhave used credit in the past and how responsible you have been in handling money.  These reports can stay for up to 10 years, especially good ones and those you do want creditors to see.

The bad ones such as tax leins or bankruptcies may also stay for up to 10 years and, while you really don't want potential creditors to see them, thy are part of your credit history and will have an impact on the credit future until such time as they drop off.  Nothing you or anyone else can do will remove them.  So, the lesson is, make all payments on time and of proper amount so the negatives don't get added to.

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"Nothing you or anyone else can do will remove them. "

That's not always true. You can always contact creditors and request that an item be removed. And if you're making a settlement on a debt, you can use that as a bargaining chip: "I'll pay off Loan X if you agree in writing to remove it from my credit reports within X number of days."

This is tougher to do with a tax lien, since you're dealing with the government -- a bureaucratic disaster -- but it's not impossible. You can also contact your local State Representative's office for help -- they may be able to pull some strings for you.

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