I was notified by the title company that there are quite a few judgements and student loans that need to be paid out of my closing,about $80,000. Is there anybody out there that specializes in negociating with these creditors? The student loan Corporation has agreed to settle for 60%, but I really need help with all the other judgements, some of which are better than 10 years old. My home is homesteaded, but this doesn’t seem to make any difference. Any suggestions?
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December 6th, 2010 at 11:54 pm
I doubt a legitimate source will negotiate better than a 60% settlement, and there’s a good chance you’ll get ripped off trying to find one. I’d try contacting the other lenders directly and see if they won’t deal straight up
Homestead won’t effect judgements on property; the title company is correct, they have to be released
December 7th, 2010 at 12:35 am
First of all be careful on Bogus “Nonprofit” Debt Negotiation Companies
http://www. ftc. gov/opa/2004/05/ncc. shtm
Debt negotiation firms may claim they’re nonprofit. They also may claim that they can arrange for your unsecured debt — typically credit card debt — to be paid off for anywhere from 10 to 50 percent of the balance owed. For example, if you owe $10,000 on a credit card, a debt negotiation firm may claim it can arrange for you to pay it off with a lesser amount, say $4,000.
The firms often pitch their services as an alternative to bankruptcy. They may claim that using their services will have little or no negative impact on your ability to get credit in the future, or that any negative information can be removed from your credit report when you complete their debt negotiation program. The firms usually tell you to stop making payments to your creditors, and instead, send payments to the debt negotiation company. The firm may promise to hold your funds in a special account and pay your creditors on your behalf.
and Please from
http://www. ftc. gov/bcp/conline/pubs/credit/kneedeep. Shtm
Good Luck
Troy
http://floridamortgagebroker. us
December 7th, 2010 at 1:05 am
I did have some troubles before and I called the creditors and asked for their bottom dollar amount for pay off!I got from 60 to 80 % off in writing and went to the abstract company and finalized it all!