Will having a tax lein on your credit report that has been paid in full prevent you from obtaining credit such as; house or a car?
2006-12-30 08:14:45 · 7 answers · asked by Anonymous in Business & Finance ➔ Taxes ➔ United States
No, it will not. The fact you have had a tax lien is a negative on your credit report, but the fact that it was satisfied is a positive on your credit report. What counts is your activity since the lien has been satisfied. Make sure you check your credit report and verify that it has in fact showing as satisfied. You should also pursue a variety of actions designed to enhance your overall credit score and secure competitive financing at reasonable rates.
2007-01-01 00:58:56 · answer #1 · answered by wph00 4 · 0⤊ 0⤋
Not directly, but it can, because it may show up on your credit history.
A lien by itself is not a bad thing. For example, the bank holds a lien on your house if you have an outstanding mortgage. A car finance company, like GMAC, holds a lien on your car until your debt is paid off.
The holder of the lien might enforce it if you have had many delinquencies, etc. with regard to your agreed payments. those delinquencies are the things that will really hurt your credit history. So it all depends.
The best thing to do is to get your credit report and see if your score has changed.
2006-12-30 08:20:38 · answer #2 · answered by sothere! 3 · 0⤊ 0⤋
I shouldn't. What creditors go by is your over all score. In general they want a score over 620 at a minimum. They prefer a score in the 700's or higher.
Just be sure it is marked as paid. Check your credit report and get any inaccuracy's cleared up before you apply for the loan.
2006-12-30 08:17:59 · answer #3 · answered by my_iq_135 5 · 0⤊ 0⤋
dont know but do this!!!!! make sure you get a letter releasing you from the lean. mail a copy with an explination to all 3 credit agencies making sure that they have recorded it as being paid in full. if they dont have it in the system as paid you could get screwed when applying for a loan.
2007-01-02 16:04:04 · answer #4 · answered by Joe A 2 · 0⤊ 0⤋
The state tax lien attaches to all your sources or rights to sources yet does not act by employing itself. in case you pay off your vehicle loan, the financial employer will sign off on the pink slip and it will likely be reissued to you. you ought to resell the vehicle and the lien does no longer seem. Are you doing something to look after the tax lien? it incredibly is going to shrink to rubble your credit checklist till this is released.
2016-10-06 05:33:59 · answer #5 · answered by ? 4 · 0⤊ 0⤋
No, but you may pay a higher interest rate. As far as a house goes, you will need to show it is paid in full.
2006-12-30 08:17:05 · answer #6 · answered by Kiss My Shaz 7 · 0⤊ 0⤋
It could. IF the lien has been discharged, then you need to get the people who placed the lien to remove it from your credit record.
2006-12-30 08:22:27 · answer #7 · answered by istitch2 6 · 0⤊ 0⤋