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Debra
Debra, Lawyer
Category: Canada Law
Satisfied Customers: 101031
Experience:  Lawyer
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Do i pay for this information? Oh, im in canada, The lien

Customer Question

Do i pay for this information?
JA: What state are you in? It matters because laws vary by location.
Customer: Oh, im in canada
JA: Has anything been filed or reported?
Customer: The lien was put on the house six and a half years ago legally
JA: Anything else you want the lawyer to know before I connect you?
Customer: No thank you
Submitted: 10 months ago.
Category: Canada Law
Expert:  Debra replied 10 months ago.

Hello! My name is***** you for your question. I'm reviewing it now, and will post back again shortly.

Expert:  Debra replied 10 months ago.

I'm sorry that it sounds like you may be in a difficult situation.

I don't understand what your question is. Can you please explain a bit more and then clearly set out your question?

Thank you.

Customer: replied 10 months ago.
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call. Let me know if you need more information, or send me the service offer(s) so we can proceed.
Expert:  Debra replied 10 months ago.

I am sorry but I cannot speak to you on the telephone. I know the site offers this service but the site is based in the US. As I am a lawyer in Canada the rules of my law society prohibit me from speaking to you on the telephone as you are not my client.

I can only speak to you by posting up and back over this site.

Customer: replied 10 months ago.
Ok, I understand.
We have a lean against our home. It was legally acquired. It will be 7 years in February 2017.
The full amount is $16,000.00 and they have offered to release the lien for $10,000.00.
Is there a time when the lien expires?
What is the difference after 7 years, does it come off of our credit?
If we settle on the $10,000.00 are there any consequences to that on our credit.
Thank you.
We live in Ontario
Expert:  Debra replied 10 months ago.

Was the lien as a result of a judgment?

If I can get a bit of a better understanding of how the lien was acquired I can answer more fully.

Customer: replied 10 months ago.
We couldn't afford the lease with our GM vehicle and returned it.
GM sold the vehicle and charged us the difference between what it sold for and the outstanding amount of the vehicle.
My husband read a book that said we should fight this and as a result we ended up with a judgement.
Expert:  Debra replied 10 months ago.

So then your credit rating as already been effected all that it can be by the debt and judgment.

The lien being lifted or settling with the plaintiff cannot possibly affect your credit rating.

It is a good idea to settle so long as you get something in writing that makes it clear that the rest of the money is no longer owing.

Does that help?

Please feel free to post back with any follow-up questions you may have. If you don't have any then I hope I have earned a 5 star rating but if you don't feel that I have please don't hesitate to reply back and let me know what more I can do to assist you. Finally, please know that even after you rate me I will be here for you and you can ask follow-up questions if you think of them later on at no further charge of course.

Customer: replied 10 months ago.
Thank you but what about my question regarding the lien coming off my credit score after 7 years?
Expert:  Debra replied 10 months ago.

It is not the lien that is on your record. It is the judgment and it should be off in 6 years and that is the case no matter what happens with the lien.

Customer: replied 10 months ago.
How can I find out if it is off my credit record?
Expert:  Debra replied 10 months ago.
Expert:  Debra replied 10 months ago.

Is there anything more I can help you with at this point in time?