As citizens of the United States, we are all obliged to pay our fair share of taxes. We all need to share the specified amount, based on our earnings. It is important to stay on top of these, if they aren’t done automatically, so you never get behind. But when you hit hard times, sometimes, that can become the reality. At first, you aren’t going to find any government forces on your doorstep. However, you could find you are given a tax lien. A tax lien is a legal marking on your credit report, and will be a long-lasting stain on your financial record. So, if this happens to you, you need to be certain it is the last resort. You need to be assessing your options and doing your best to rectify any wrongdoing, guided by a team of professionals.
Understanding Tax Liens
Essentially, a tax lien is a mark that is put against a citizen, who is not paying their taxes as they should be. It is meant to be an effort to get them to pay back immediately. If it is not followed and the taxes remain unpaid, then something known as a tax levy will be written. This will allow official bodies to repossess your assets, such as property, bank accounts, vehicles and investments. They are enforced by the government and so, will be recorded as an official document. However, this is slated to change in the future and may be viewed differently.
Effect on Your Credit Score
Having a tax lien written on your credit score is one of the worst things you could have added. It will stop you making many financial moves, being a long-lasting scar against your report. You will be liable to higher rates of interest and very few creditors are ever going to take you seriously, as a viable borrower. That can mean you are unable to achieve your financial goals and it could lead to many aspects of life becoming more challenging.
Dispute Tax Lien
But, just because one has been marked against you, doesn’t mean it will remain there forever. There are two ways to have it removed. The first and most obvious being, to pay the outstanding amount of debt. Whilst, the other, involves disputing it with the IRS. Doing that is going to take some experience and knowledge, if it is going to be effective. And, when you look to us for support, you can expect exactly that. We will identify the specific ways to dispute with them, challenging the creditability of their proof.
Professional Guidance
You can’t find this level of support with any average company. It takes a vast amount of experience in the field and a real depth of knowledge. The combination of this is what will deliver you with the highest standard of guidance and is your best chance of achieving the success, that you need. Make use of the fine services of us, at Little Rock Credit Repair, and see just how valuable our advice is going to be.
