Secure a OneMain Financial Lien Release Instantly
OneMain Financial Inc. is an American-based company that operates in the finance and insurance industry providing loans and insurance covers to consumers. The company was founded in 1912 by Alexander Duncan and has over 1500 branches in 44 states of the US.
The company grants you an opportunity to apply for a loan in a straightforward way, with fixed rates and multiple clear payment options. If you fail to pay your loan within the stipulated time, OneMain Financial will place a lien on the property that you used as collateral to secure the loan.
You can by negotiating with the company on payment options, which is a big hassle and also time-consuming. Additionally, you cannot guarantee whether the bank will accept your proposal, making the exercise uncertain. You can avoid all these inconveniences by engaging DoNotPay, which has a perfect solution to this problem.
What Is a Lien?
A lien is basically a legal right against a property used as collateral when obtaining a loan or getting a particular service. If you fail to satisfy an underlying debt obligation, your creditor is legally right to seize the property subject to the lien.
What Are the Different Types of Liens?
There are many types of liens, but the most common ones include:
- Bank lien
- Judgment lien
- Mechanic lien
- Real estate lien
- Tax lien
When you take a loan from the bank to purchase an asset-like vehicle, the seller will be paid using the borrowed money. In turn, the creditor bank will be granted a lien on the vehicle; thus, if you default to pay the loan, the bank can execute the lien and seize your car.
It is one placed on assets by a court due to a lawsuit. It helps the defendant to get paid through liquidating the asset in the subject.
If a mechanic repairs your property and you fail to pay for the services rendered, the contractor can sue you in court. The court authorizes them to apply a lien to the property to secure their payment.
Real Estate Lien
If you fail to fulfill a contract, all your real estate property might be seized through a court order. It happens when you obtain a loan or a mortgage to purchase a home; a bank places a lien on the item until you fully pay the mortgage or loan.
These are liens created by law as opposed to those by contract. They are used by tax authorities to recover property taxes on delinquent taxpayers.
How Does OneMain Financial Lien Affect Your Credit Score, Selling and Buying
Having a lien attached to your property or credit card report is bad news as it affects:
- Assets. A lien is placed on all your properties, including vehicles, houses, and securities. A lien is also applied to future properties you will acquire when the lien is still active.
- Credit. Once the IRS has filed a Notice of Federal Tax Lien, you might not get access to credit services.
- Business. Liens are placed on all your business properties as well as your rights to the business property, such as receivables.
- Bankruptcy. It doesn't matter whether you filed for bankruptcy; a Notice of Federal Tax will still be active even after bankruptcy.
How Do You Eliminate OneMain Financial Lien on Your Own?
If you prefer doing the task by yourself, below are the common ways you can remove a lien. We would like to, however, warn you that you need to be careful and diligent to avoid unfavorable results. Here are your options:
Discharge in Trust
You can have your lien removed by "in trust" through a third party, usually a lawyer. This happens if you have the funds to clear the debt and wish the lien removed before you release the funds.
Your lawyer might initiate a court proceeding to have the OneMain lien removed through a court order. Take note that you have to place money in court that equals the value of the lien. In order for the creditor to get the money in the court, they have to remove the lien.
Failure to Prove Lien
You can dispute your debt and ask the claimant to send you a notice to prove the lien. If the creditor does not respond to your request and begin legal action to confirm the lien within the stipulated time, your lien will be removed and will no longer be valid.
All liens have an expiry date, and thus, if your lien remains inactive, that is, no legal action by the creditor until it expires. The lien will neither be considered legally enforceable nor valid.
None of the above ways of removing the OneMain Financial lien is easy since all of them will require you to spend money to make the process a success. You don't have to worry since DoNotPay through Remove My Lien product will help you in an easy and less frustrating way.
How Long Does It Take to Get a Lien Release from OneMain Financial?
The typically takes within 15 days of receipt of the payoff amount. Please do note that should there be any trouble with the paperworks, this could take longer.
How Can You Get a OneMain Financial Lien Release Using DoNotPay?
We understand you would rather spend your time doing anything other than dealing with paperworks. With the help of DoNotPay, you can avoid the time-consuming steps and focus on more important things.
Just follow these three easy steps:
- Search for remove my lien on DoNotPay.
- Start our Remove My Lien product.
- Answer some questions about your specific lien and let us help you craft a letter to your creditor to resolve the issue.
And that’s it! You can just wait for the notification that OneMain Financial has already granted the lien release on your property.
DoNotPay Works Across All States, No Matter What Type of Lien
It’s not unusual to have follow-up questions or have other lien-related concerns on top of your head. DoNotPay is ready to help you out, wherever your lien is across the country.
We can answer your questions on:
What Else Can DoNotPay Handle for You
You don't have to get stressed about your OneMain financial lien. DoNotpay can take care of your lien release and more, such as:
- Learning about the release of liability
- Suing anyone in small claims court
- Closing bank accounts
- Contacting customer service
- Creating a power of attorney
- Cleaning up your credit report
- Setting up automatic payments on your bills
- Reducing your property taxes
- Increasing your credit limits
- Canceling timeshares
with today and arm yourself with the best tool you’ll ever need to accomplish all your tasks!