How can a bank hold a lien on my truck after sending me the vehicle title?

My used 2003 truck has been paid off in January of '06. I received the title and a letter congratulating me that my installment loan was paid in full. So yesterday, I checked my credit report and it says my installment loan account is still open and I still owe money on the truck. Today I called the bank(Fifth Third), and they said I owe money and even though I have the title, they still have a lien on my truck. Also, they are saying my last payment was returned for insufficient funds, but when I went to MY bank, MainSource, they were saying that they were never notified and have no records of any check coming back to them. I paid my truck off in 1 year, and Fifth Third sent me the title and now want more money. How can they do this, and how bad is this hurting my credit? Thank you in advance.

How can a bank hold a lien on my truck after sending me the vehicle title?

You need to get your bank to give you a copy of the check you used to pay the last installment.

Or the Fifth Third has to send you documentation that the check didn't clear the bank.

If by chance the check didn't clear your bank, yes they can put a lien on your truck.

How can a bank hold a lien on my truck after sending me the vehicle title?

Dispute it with the credit bureaus then file a formal written dispute with the bank holding the lein. They will need to prove the debt.

How can a bank hold a lien on my truck after sending me the vehicle title?

if they have sent you the title--you need to tell them that you have that plus the letter stating it is paid so what do they think they are doing. you have plenty of backup--they have nothing. just let them know if they don't send you proof in writing you will be visiting an attorney and suing them. also, send a copy of the title and letter to the 3 main credit bureaus and list that you are disputing what they say. they will attach the letters. you can do this on line by finding the free credit report from the gov. i THINK it's freecreditreport.gov---it's not the one where they give you a free report if you sign up for credit monitoring, it's the website run by the gov't that allows you 1 free report per year from each credit bureau.

How can a bank hold a lien on my truck after sending me the vehicle title?

The letter stating the account was paid in full is your lifeline. You need to contact the 3 credit bureaus, state that you have a dispute, mail them a copy of the letter. If that does not work you need to contact your State Attorney's office and let them know the situation.

How can a bank hold a lien on my truck after sending me the vehicle title?

I would get a copy of that final check that you sent, and then send it via certified mail with a letter to the lendor. Tell them you paid it in full and you want your credit report marked that way ASAP. Tell them you want a written reply within 7 days. Be tough with them.

How can a bank hold a lien on my truck after sending me the vehicle title?

They are wrong, the law is on your side. Make them prove what they are saying. Get all your facts together and show them.Make copies, never let them have the originals.