IT IS SIMPLE, HERE‘S HOW... LENDER CODE SYSTEM: Lienholder Registration: P-Code: If the Lender Code starts with a 'P', the lender does not accept electronic titles and requires a paper title to be mailed out. T-Code: If the Lender Code starts with a 'T', a temporary code is issued to proceed electronically. However, a paper title may be issued if the lender is not found. Non T or P Code: Any other letter that you may see will denote that the transaction is electronic. Examples: D12345IL or E12345IL. The lienholder will be notified electronically when the title is marked for release by the Illinois SOS. How Does ELT Work? IMPORTANT NOTE: © 2024 CHAMP Titles®. All rights reserved. 1 Lienholders are assigned a unique number to register in the State of Illinois. 2 Electronic Notification: When this ELT number is used in a transaction, an electronic notification is instantly sent to the lienholder, confirming their status as a secured party on the vehicle. 2 Accuracy is crucial! If an incorrect Lender Code is entered and a title is issued, correcting it will cost $50. However, if an ERT Correction sheet is attached, the correction for the Lien Holder and Lender Code can be processed without the fee.
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