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Hello this is Robert I'm a tax attorney here at TRP, and we're going to be going over California Franchise Tax Board liens how to avoid them and how to resolve them so the first thing to know about California Franchise Tax Board liens is they can hurt your credit now the GB does not go out and submit it to the credit report, but it's very likely to the credit reporting agencies will go ahead and like pick that up because it's going to be on public record and the tax lien is the government's right to claim or seize your property if you fail to pay your taxes on time there are different government entities who can impose a tax lien most common being on the federal level or federal level but here we're talking about FT which is state level one of the frustrations of having a tax lien is that you might have a hard time selling property or getting financing since a lien becomes public record, and it can't affect your credit score, but they're not manually sending it to the credit reporting agencies they just pick it up like we said and how do you avoid an FT lien you do the minimum payment plan you have to be requires unfortunately sometimes they want you to pay it off in twelve months and a lot of people just can't do it, so you know put the lien, and now you have a lien how are we going to resolve the lien so the pay plan you're going to pay a plan you pay it off in full by the time once it's paid off from that pay plan they're going to release the lien you just pay it off in full outright if you do that the lien will get released if you get an offer and compromise accepted which is settling for less than you owe that will release it the other thing is wait until it expires California tax debts do have a 20-year expiration date however California always finds ways to extend that on a lot of cases, and it ends up being a little longer but waiting till expires can take quite a while and in that mean time if you don't put your case in the hardship or do some type of resolution you know they're going to try to collect on you so once a lien is placed and then later settled or paid off it will get released but not what's wrong, so the FT leading will show is released on your record if you have not if it gets picked up by your credit report it'll show you had lien then also the lien is paid off they don't withdraw the liens like the IRS so the IRS you can actually submit a lien withdrawal once the debt is settled or paid off, and it's like it never existed the GB is like it was there, and then it's dealt with, so it still shows in your credit report might hurt it a little, but it's not as bad as just owing when you have that when you have the lead satisfied so concluding our guide on FDB liens the best way to avoid have to be lien is to pay it and fold you the minimum monthly payment you have to be one sometimes risky lien is worth it to settle the debt for much less than you owe now we had a guy he owed 265000 DFB, and it settled for 225 the liens were...
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