If you have a tax lien being reported on your report you score is in serious trouble. You should remove this item as soon as possible.

The first step is to request validation from the bureaus. This is done through sending a dispute letter directly to each.

Surprisingly it is not out of the ordinary for incorrect information to be reported on your credit. It is estimated that 1 in 4 people have inaccurate information on their report.

Upon receipt of your letter the bureau will investigate the mark. They will contact the state or federal government and ask for verification that the debt does exist.

If it is verified then you will have to make some form of payment. Depending on the amount you owe it may be in your interest to contact a tax negotiator.

This is because they can often negotiate a reduced payment for you. However you can also negotiate directly with the government.

This debt can be collected on for 10 years. It will be reported on your report for 7 years once it is paid. Once you pay your lien in full, we suggest you wait 3 months and then dispute the mark with the bureaus again.

It has been learned that once payment is made the tax departments will frequently ignore validation requests from the bureaus. Thus your lien will not be verified and the bureaus will remove it from your report.

Additionally if this mark was make in error then send any documentation along with your dispute letter to prove that. Repayment The IRS and state government often accept partial payment.

To propose this to them you will make an offer in compromise, often called an OIC. When the government decides to accept your OIC or not they will look at your; ability to repay, your assets, and your income. It can help your cause if you send a letter pleading financial hardship.

It may be in your interest to hire a tax attorney or negotiator to help negotiate a repayment amount. It is not absolutely necessary but nonetheless a good idea.

In sum, take action today and get this lien off your report. It will be hard to be approved for credit with decent terms as long as this mark is on your credit.

Don't just wait seven years. For more online credit repair tips or for a free credit repair letters to send to the bureaus visit us.