Does anyone know if having a tax lien released improves your FICO at all? I am probably not going to have it deleted and was curious if it is scored differently than one that is owing.
I just pulled my TU at worthknowing.com. My tax lien is listed as released. I got the letter from TU saying that it was deleted. It was not on the updated report either. What is going on? curious. roni
That is a very good question. In California, it states that liens stay on 7 years from date filed, whether released or not. I'm wondering if "released" liens are even scored. I hope someone knows. BTW, Roni...could you read my novel I just posted about "the woman who knew too little"? I would love your input.
toothman, I don't have an answer for you, BUT: my balances will soon change to zero, and I am currently disputing the entries. I will let you know how my FICO is affected either way. Hopefully will know something soon.
From what I've seen, a released tax lien has as much effect on your fico as a paid judgement or collection.My experience was I took about a 100 point hit for a tax lien.(Over $100k)when I paid it had about a 50 point effect on my fico. Now more than 5 years old, I don't think it hurts me more than 10-20 points as paid/released. Where it does get you is on a few prime lenders requirements that there be nothing negative on your report before granting credit or having to jump through extra hoops and explain it. vj
According to this page: http://www.advantagecredit.com/creditreporting/adverse_reason_codes.htm "Serious delinquency, derogatory public record or collection filed" is a reason the score could be lowered. But it doesn't say anything about distiguishing between accounts that are paid and those that are not.
