Product: Credit reporting

Dear Sir or Madam, In addition to writing you, I have also contacted my US congressman and senators. I am writing you to discuss a problem that is plaguing many tax payers that are in debt to the IRS. Even though many consumers resolved their tax debt with the IRS, credit reporting agencies are allowed to come in and report information on a credit report without verifying anything about the debt with the IRS. The IRS does not even report to the credit bureaus so these agencies are out seeking information to place on consumer reports without any regard for how this information is negatively impacting consumers. Those of us that went to XXXX, XXXX and other professions are carrying an incredible tax burden. It is hard to encourage our children to stay in school or to see them incur debt like we did when we know that they will be expected to carry the burden and will not be entitled to many tax breaks that are provided to those who make less ( student loan deduction ) or countless deductions for millionaires and billionaires. We have person running for president who does not even pay taxes which shocks the conscious of when the burden is on the back of the taxpayers around or above that {$250000.00} threshold that is deemed " wealthy ''. There is nothing wealthy about that tax bracket at all as we are barely able to meet the monthly expenses and provide opportunities for our children. I am a XXXX and unfortunately in 2014 had a bad year. In addition, I had truly bad advice from my accountant which led to me and my husband owing over {$80000.00} to the IRS. AT that time we owed much smaller amounts on the years before but were paying that debt. I have had a payment plan with the IRS for a year now and have never defaulted on my installment agreement. This year, I was able to pay my taxes in full and it was looking like we may be moving ahead. We have XXXX boys at home and were looking forward to buying a home after we lost ours during the crash. We have worked hard to pay off our debts and rebuild our credit. Although I had been paying the IRS, I was going to take a line of credit ( since my score had improved ) that would have paid the tax lien off and enabled us to buy a home. In the month before doing so, the credit bureaus combed the court records and reported the original amount of the lien on my credit report. This prevents me from borrowing anything- a credit line or a home. The credit bureaus are allowed to go in and report what they find at the court house without any regard for the amount actually owed and they do not report whether a tax payer is making their monthly payments. This information stays on a credit report for XXXX more years after the lien is paid. Ironically, the IRS does not even report this information to the credit bureaus, the bureaus seek it out so that they can profit by obtaining inquiries. This is truly detrimental to the taxpayer. First of all, it discourages the taxpayer that is more than willing to pay their obligation and gives a false picture of a person 's credit. I completely understand the reporting if a ) the amount reported is correct at the time of reporting or 2 ) if the taxpayer is not paying at all on their debt. Why does a private agency have this much power to cripple consumers that are trying to recover in this economy? I have also written our lawmakers and urged our leaders to consider legislation that will encourage taxpayers to pay their debts but also acknowledge that we have to be able to live and support our families. Private credit bureaus should have some responsibility to accurately report lien information and should not be able to report without verification of whether or not a taxpayer is actually paying their debt. 

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