2nd mortgage charged off , lien released,can I negotiate payoff with collections?
2nd mortgage charged off , lien released,can I negotiate payoff with collections?
Not sure if the loan was sold at this point.
2 Answers
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First of all get the loan validated by the collection agents. And secondly, consult an attorney and draw up a negotiation plan accordingly, before actually sending in your proposal for the settlement.
1
Get the loans validated and check the Statute of Limitations applicable in your state. It would be best if you could consult an attorney in this regard because if your debt collectors sue you for defaulting on the loans post the SOL tenure, then you can raise the matter as a defense against the lawsuit filed against you.