Is Tax Debt Holding You Down?

Do You Owe Tax Debt?

Are You Responsible for Penalties from Late Filings?

Do You Have Tax Levies & Liens or a Wage Garnishment?

We know how intimidating and stressful tax debt can be. Which is why THD Credit Consulting has teamed up with a nationally recognized tax relief company that will offer you a Free Consultation!

They have helped thousands of people lower stress, lower tax debt and will provide guidance and expertise within the government’s continually changing tax laws.   

If you are interested in finding out more about this company and would like a free consultation from them, email me at and I will make the introduction. 

We know IRS tax debt can be confusing. That’s why our partners are here to help!

-Erik Kaplan

New standards will strip all tax liens from credit reports

Because of improved standards for utilizing new and existing public records, the three major credit reporting companies will be deleting and excluding all tax liens from credit reports. That means consumers who’ve missed a tax payment will no longer be penalized for that when applying for loans.
This change went into effect on April 16th 2018 and is the result of a study by the Consumer Financial Protection Bureau that found problems with credit reporting and their recommended changes to help consumers.
What does this mean? The reporting agencies will remove any remaining tax lien data from consumer credit records.
Credit reporting and scores play a key role in most of our lives. Whether your report is affected or not, be sure to check your credit reports from all three bureaus to ensure the information is accurate.
If you have a tax lien or a judgement on your credit remaining at the end of this month, contact us and we can have it removed for you!


-Erik Kaplan

What you should do if you get a collection account on your credit.

Here’s the first thing you should know about debt collection: The people calling you are not the people you borrowed from. In actuality you are talking to someone who purchased that debt for pennies on the dollar and is trying to make a profit on it.

If you have a collections account on your credit report it is important to know how this will affect your credit score and what you can do about it. 

Let’s start with the basics… What does it mean for your credit?

If you have a collection account, your credit score may drop by a substantial amount. It typically is correlated with how high your credit score is.  Therefore, the higher your score the more points you can lose.

As you know, having your credit score drop from having an account in collections can impact your financial future.  You could be denied for credit cards and loans.

Realities of overdue debts…

The truth is a creditor could sue you and win a judgment, allowing them to garnish your wages or hire a sheriff to come get your property. However, the chances of this are slim.

Many consumers feel overwhelmed by their debts and file for bankruptcy because they think it is their only option. DON’T DO THIS!  This should only be considered once all other options are exhausted.

What should you do?

Call or email me, asap! Through a careful analysis of your situation, I can determine the necessary steps to settle your debt and move toward rebuilding your credit.

-Erik Kaplan

Coming Soon!

Employer Credit Checks: How do they affect you?

Hey it’s Erik,     

In most of the country, a potential employer can review your credit report as part of their application process.  Some employers also conduct credit checks on existing employees, often when they are considering a promotion.
The reasons potential employers like to see this information is the belief that long history of unpaid bills, foreclosures and delinquencies could be indicative of a lack of responsibility and the decision making skills that could affect job performance.
Employer Credit Check Regulations
Access to your credit report is governed by the  Fair Credit Reporting Act , which sets the limitations on when and by whom your credit information can be accessed. The FCRA sets a few restrictions specifically on employers who are using credit reports to screen new job applicants.  
When your information is requested, credit bureaus will send over a variation of your credit report meant specifically for employers. This means that they won’t see quite everything that a lender can see – like your credit score.
What are employers looking for?

In simple terms, employers are looking to reduce their risk.  A history of negative public records or other  derogatory marks could indicate to employers that an applicant has a record of untrustworthiness or unsavory behavior.   A credit report completely free from late payments and any other negative marks can indicate to an employer that you have the financial maturity and responsibility to handle the position.
What can you do?

Here’s where being proactive can work in your favor. Before you begin your job search, it’s a good idea to pull your credit reports to look for errors and identify negative items. If there are errors on the reports, you can get them fixed before there ‘s a chance they’ll harm your potential for being hired. Similarly, if your reports have negative information that’s accurate, you’ll want to see if you can get it fixed before an employer sees it. If you can’t, address it upfront with the potential employer.
While employers do not receive your credit score with employment credit reports, your credit score can be a good reference tool for yourself as you work to build or maintain your credit.  If you see an unexpected drop in your scores, it’s important to check your credit reports for errors or even signs of fraud.
If you have questions about employer credit reports, give me a call and we can discuss steps to dealing with these potential employers.
Until next month,
Erik Kaplan
(800) 822-7120
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How a Tax lien affects your credit

TaxLienWe all know that when you fail to pay your credit card bills or loans on time, your credit rating can suffer as a result. Did you know that not paying your income taxes can result in a tax lienand have the same affect on your credit score?

What is a tax lien

The federal government takes it very seriously if you fail to pay your taxes. And it can be serious for your credit reports and credit scores, too. A federal tax lien is the U.S. government’s legal claim against your property when you fail to pay a tax debt.

How does it affect your credit?

Once you fail or neglect to pay a tax liability on time, the IRS files a public document, a notice of federal tax lien, alerting creditors that the government has a legal right to your property – and it is one of the worst things that can appear on your credit report!

A tax lien, which may occur at the state, local or federal level, significantly impacts your credit score, affecting your ability to get loans, credit cards and even a cell phone.

How much or how little your credit score will be affected by a tax lien depends on a variety of factors, including other items listed on your credit report and your credit behavior. Even when a tax lien is paid and released, your credit scores will likely continue to be negatively impacted by the lien for many years as long as it’s on your credit files.

Is there any way to remove a lien from my credit file?

There are some instances in which you may be able to have a lien notice withdrawn from your credit file.  To discuss what steps you can take, give me a call (800) 822-7120 or email me at

Looking for tax debt relief?

Guidance Tax Services is a tax relief advocate group that strives to protect you from the devastating effects of looming tax debt.  Give them a call at 800-381-8816 and ask for Rick Yeager and tell him I sent you! 

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THD Credit Consulting ・(800) 822-7120 ・