I paid off a debt that I was going to have a lien on. My credit report states that a lein was on my property. How can I remove this from my credit report? I paid the debt and I am in good standing with the debtor.
2006-10-19 06:18:12 · 7 answers · asked by Key Key 2 in Business & Finance ➔ Credit
Ah yes...once again a whole crop of incorrect answers because people won't do their research.
And Lek, you are a "professional"? What's your excuse?
Liens are public records. As long as this is listed in the public record the credit bureau will continue to show an unpaid lien on your record.
You must get a copy of the pay-off and get it filed with whichever government office is listing the lien. Sometimes it's at the county level, other times it is the state. You need to look at your laws to find out for your state.
If you can get a copy of the paperwork showing the lien is being removed, then send that, along witnh a dispute letter, to the credit bureau. If you send only the dispute, that will delay things because the credit bureau needs to verify the records again with the state.
Note, however, that according to the Fair Credit Reporting Act Section 605(a)(3), the credit burear can report "Paid tax liens which, from date of payment, antedate the report by more than seven years."
This entry will unfortunately remain on your credit report as a paid lien for a while.
2006-10-19 08:17:31 · answer #1 · answered by Anonymous · 0⤊ 0⤋
You need to get the creditor who supposedly has the lien to contact the credit bureau to remove it. Failing that, present a letter from the creditor to the credit bureau proving the debt was paid and no lien was taken. But I'd suggest checking to be certain some snafu didn't result in the lien going through without you knowing about it. Stranger things have happened.
First step is to dispute the item on the credit report. There are forms at the sites you can download and fill out.
2006-10-19 13:22:04 · answer #2 · answered by wynterwood 3 · 0⤊ 0⤋
Write a letter to the different credit bureaus...ie - equifax, transunion...etc. disputing the charge/lein on your credit history/report...They will than contact the company responsible for reporting the charge/lein to the bureau, the company is given 30 days to send proof that the debt/lien can still be substantiated. If the debt/lein is no longer ligit because you paid it off it will be erased from your credit report/history.
2006-10-19 13:29:26 · answer #3 · answered by Lek 6 · 0⤊ 0⤋
Contact the bureau in which the lien was reported and dispute it or have the debtor contact the bureau and update thier records. The same way they put it on your report, the same way they report a satifactory standing.
2006-10-19 13:54:13 · answer #4 · answered by aukasted1 2 · 0⤊ 0⤋
the lein holder must release the lien in thecourt house of your county. This is the law once paid they MUST release
2006-10-19 13:20:54 · answer #5 · answered by golferwhoworks 7 · 0⤊ 0⤋
How to Clean Up Credit Report
Before approving your loan, your lender contacts the credit bureaus to get your credit report. Bad credit report will severely restrict your credit. In some cases, you may not even get the credit. So it is vital to get your credit report cleaned. To enable you to achieve that you have to alter your financial habits............
2006-10-20 08:05:36 · answer #6 · answered by sing i 2 · 0⤊ 0⤋
see which of the credit agencies has that listed and write to them and explain the error. Send along copies of info to back up your request that they correct your record.
sometimes it takes a bit - but well work cleaning up your credit.
2006-10-19 13:22:02 · answer #7 · answered by island3girl 6 · 0⤊ 0⤋