I have a tax lien on my CR. It has been over 7 years and the amount owed is $650.. My question is will SOl take place and if I dispute it will it be taken off my report? If not what can I do to get it off besides paying off? Also if I do pay it off will it help my credit? Thanks in advance for the advice.. =P
Tax liens are different from other things. Unpaid tax liens stay on your record FOREVER unless your state law says otherwise. Once you pay them off, they still stay on your record for 7 years AFTER they are paid, unless you can dispute them off.
In Michigan, they stay on for 15 years if unpaid and 10 years AFTER paid. So if I had a tax lien that was 7 yr old and finally pay it, it's another 10 after that. bummer huh? Once you pay it, you can contact the irs and get proof that you paid it because it can take up to 2 months to show "lien satisfied" on your report.
