10-13-2012 10:49 AM
How to clear unpaid mortgage charge off from CR. ( Mine was 89 K and after Charge off they show as ZERO dollars on report ).
I got call from a collection 2-3 times but I ignore it.
Now I see I am within SOL realm, also I see folks say that past SOL they can collect. Can anyone advise what is the best mode of approach to settle at a lesser amount and whom to approach..
03-24-2013 07:18 PM - edited 03-24-2013 07:21 PM
We just closed Friday with one outstanding 6.5 year old charge off.
Congratulations on your success!!
Could you please provide some details; e.g., was this an FHA or VA loan?
What was the discussion with respect to this one item still on your report--in other words, did your file sail right through, or did you have to jump through some hoops?
Can you provide the name of the lending institution?
We were turned down late last year, due to five, six year old collections, and one charge off; all, well past the SOL.
To qoute the lender..."well, even though they are past the SOL, they may still try and sue you.
Note: On all the collection letters I receive, it states right there, in the small print--"While we cannot sue you due to the age of the debt, we can still attempt to collect."
We are waiting until after November, when the collections all fall off, at seven years, and then we will see how it goes with the one charge off, which never was sent to collections, and will be 6.5 years old.