How Tax And Legal Issues Can Affect Your Credit Report

As if juggling lenders aren’t enough, there are other forces out there that can drop your credit score too. Tax and legal issues. If a creditor has sued you, it can damage your score and thus damage how you look in the eyes of creditors. Also, if you have a tax lien imposed by the state or IRS, creditors may wonder if this financial issue will affect your ability to pay back a loan.

A court judgment could affect how creditors view you. They may wonder whether or not you’ll be able to pay back loans.

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