From Charged-Off to Clear: The Step-by-Step Guide to Removing Liens and Reclaiming Your Property Title

Episode Description 

Discover how to remove charged-off liens from your vehicle title when banks have written off the loan as a loss. This comprehensive guide walks you through the legal process of clearing your title and reclaiming full ownership of your property. 

What You'll Learn:

• Understanding Charge-Offs: What happens when a lienholder declares a loan as no longer a performing asset after 3-6 months of delinquency
• Why DMVs Don't Auto-Remove: Learn why the Department of Motor Vehicles won't automatically remove charged-off liens from title records
• Required Documentation Process: Step-by-step instructions for gathering and preparing the necessary paperwork to clear your title
• Three-Package Filing System:
  • Contact the lienholder in writing to verify charge-off status
  • Submit request documentation to the DMV
  • File with the magistrate or clerk of court in your county
• Lien Mitigation vs Court Order Title: Understanding the different legal pathways depending on your jurisdiction
• Legal Protection: How government agencies prosecute lien holders for improper filing practices
• Real-World Examples: Case studies including Pennsylvania Attorney General's $750,000 lawsuit against improper title loan companies
• Your Rights: How to stand your ground when lienholders engage in improper practices
• End Goals: Successfully becoming the legal owner or being able to sell your vehicle and recover your investment

Key Takeaway:
Even if a lienholder has charged off your loan, you still need to take proactive legal steps to remove the lien from your title. The process requires proper documentation and filing with multiple agencies, but it's absolutely achievable with the right approach.

Resources Mentioned:

• cartitles.com for detailed instructions and forms
• Live one-on-one consultation with licensed certified experts available

What is The Expert Podcast?

The Expert Podcast brings you firsthand narratives from experts across diverse industries, including private investigators, general contractors and builders, insurance agencies, vehicle specialists, lawyers, and many others.

So, what if you have a vehicle with a loan lean record showing on the title and that loan or lean has been charged off with the bank? How do you get it off the title? Well, this is a very common scenario. Many times, a vehicle loan has long since been delinquent. After usually between 3 to 6 months, the lean holder will execute what's called a charge off.

A charge off is an event where the leanholder has to by law declare that that loan is no longer a performing asset. It's no longer a viable valuable uh benefit on their um balance statement. Once they do that, they no longer can call it a valuable record for their company. And that means that they may not be able to defend having the lean on their title.

So, what do you do? Well, if you have a vehicle that you borrowed money on, that's a charge off, or if you've purchased a vehicle from somebody and you come to find out that there was a charged off lean on the title, you have to go through a documentation process to get that lean removed from the title record. The DMV will not automatically do this. Matter of fact, they don't even know that it was charged off. So, you have to present some documents.

First of all, you have to contact a lean holder in writing to verify that it's a charge off. Then what you do is you file those documents. Your video will be back in 8 seconds. In the meantime, remember you have access to live one- on-one consultation, undivided attention of a licensed certified expert in this subject and many others. We want to listen to your story. We want to hear your questions and give you expert advisement of your options. We want to tell you what we know about your situation and what options you have. Now, back to your video either with the DMV or the magistrate in your county to have the lean removed from the title record.

It's called lean mitigation or court order title depending upon the jurisdiction. Our website cartitles.com will give you instructions on how to do this. It'll show you exactly how we do it. It's a matter of preparing some forms and documents to be filed with the proper agencies. You usually have to send out three different packages to three different places. One to the lean holder and they don't have to respond. Uh you just have to show that you sent it to them. Uh second, you have to send it to the DMV for a request and then third, you have to usually send it to the magistrate or clerk of court in your county.

What happens if the lean holder does something improper? What you can see on the screen, there are many instances where government agencies have prosecuted lean holders for improper filing. This is from the attorney general's office in Pennsylvania that sued one title loan company for almost threequarters of a million dollars. There's many other cases for millions and millions of dollars in all 50 states where they're filing these documents improperly.

So, stand your ground. do your paperwork properly, get that lean removed from the title so you can either become the legal owner or be able to sell the vehicle to somebody and get your money back. If you like this video, be sure to click on a few others on our channel to see if there's other information that might be helpful to you about this same subject or me maybe even other related subjects that could assist you with your resolution of your issue.