If You Have An Irs Tax Lien Against Your Small Business Can You Still Sign For College Loans For Your Kid?
Monday, February 8th, 2010 at
3:09 am
42,000 lien on 50/50 partner business and a kid getting ready to start college next year. Does anyone know ?
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Filed under: Irs Tax Help
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This doesn’t stop you from signing for a loan provided a lender is willing to lend but a tax lien is going to take a large chunk out of your credit rating.
If it is a true partnership, then the debts flow through to the owners and the lien will make it harder to find a bank willing to lend – you may end up paying a somewhat higher interest rate.