An Overview of Lien Releases
You deserve to keep what is rightfully yours. Our possessions in this life are the cumulation of years of hard work and sacrifices. Here at Benner & Weinkauf, we don’t take that lightly. Creditors don’t seem to hold the same beliefs. Among a slew of other practices, creditors put liens on properties as a form of collateral. To them, it’s a guaranteed way of getting back the money they want. We aim to put an end to this unfortunate practice. With us by your side, you can rest easy knowing that we’re doing everything in our power to keep your possessions in the right hands. As a resolution, we will file a motion with the court that will help effectively dissolve these liens and judgments, giving you the peace of mind that you’ll be able to retain your home or car and use it to live your best life.
How Liens Happen
There are a number of ways that liens come to be. Take, for example, a vehicle. Many times, an automobile is purchased from a dealer by securing a loan from the bank. In exchange for that loan, the bank puts a lien on the vehicle and holds the title until it is paid back. If you fail to stay current on your payments or fail to pay altogether, then the bank will act and repossess the property in question. Even if the purchaser wishes to sell the vehicle in order to pay off the payments, this will not be possible without the title. Therein lies the cycle that can land so many citizens in trouble. This same process goes for a home.
Types Of Liens
There are many different types of liens that can affect a person’s financial wellbeing. There are the basic “consensual liens” which entail an agreement for financing when you purchase something. Then there are statutory liens which are obtained through a court process to put a claim on an asset for unpaid bills. These are the types of liens that will attempt to recoup what a creditor has lost through a failure of payment. Statutory, or “non-consensual liens,”can include liens that deal with taxes. As you would imagine, a tax-related lien would deal with a lien placed by the IRS or another government entity against a person’s property after they failed to pay federal, state, or local taxes. Then there is a mechanic’s lien, which just may surprise you. Sometimes called a “contractor’s lien,” this type of lien will be pitted against a contractor if they failed to pay a subcontractor and could actually cumulate with a lien being placed against your property if they were under contract there.
Working To Discharge The Lien
Depending on the type at hand, a lien could see you losing the most precious things in your life. From cars to homes to even jewelry, nothing is safe if you find yourself with the wrong adversary. Here at Benner & Weinkauf, we don’t want to see that happen. We will work to discharge your lien so you can rest assured knowing that your possessions are staying in the right place. You should never have to live in fear of a creditor and what they are capable of. If you’re ready to take control again, give us a call today to find out how we can help you get back on track.