Posted on: 29th Mar, 2010 02:38 pm
I recently recieved a 1099C from the bank that had a HELOC against my house, i've now started to get calls from a collection company demanding i pay them, they have verbally told me that they will take 10c on the dollar and will release the lien, i still live in the house and am current on the first mortgage, the house is upside down.
Hi Guest!
Welcome to forums!
If you've received a 1099c on your debts, it means that your debts have been forgiven by the lender. In that case, the lender will not be able to send the balance amount to the collection agency. I would suggest you to contact your lender once and ask them to clarify the issue.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If you've received a 1099c on your debts, it means that your debts have been forgiven by the lender. In that case, the lender will not be able to send the balance amount to the collection agency. I would suggest you to contact your lender once and ask them to clarify the issue.
Feel free to ask if you've further queries.
Sussane