Green Tree servicing llc

[Anonymous]

Hi first off i havr no idea who they are, unless it is from a trailer i was going to purchase in 2001 it was in the sticks and i gave it back after 30 days did paperwork and someone else took over the payments. Nothing ever hit my credit. Recently in the past month i received a settlement letter... bal. 5000 settle for 1100 im thinking i havent heard from these folks since 2001 why are they sendin thus to me.. firstly im in nc statutes 3 yrs.. second not on my credit.. third whats going on.. lol. Im not callin answering etc.. i want no activity.. itd just weird that out of the blue tjey send me a balanve of 5000 when originally was like 68000 but like i said signed over to new owners..

[Anonymous]

They are a home loan servicer. 

If the debt is from that long ago, it can't be on your CR. 

Who did you originally sign paperwork with?  Seems they decided you still owed something. How or why I can't answer.

If you in fact owe the debt it will be around forever and they can continue to try to collect.

[chasmith]

You need to check the SOL for contract / real estate, etc.  This may not be 3 yrs.  The SOL would count from when the loan went delinquent, so if the party who took over payments stopped paying,the SOL might not have run, and we can't know whether this is outside the 7.5 yrs from DOFD that prevents reporting.

Did the papers you signed excuse you from liability for the loan and were they signed by the lender?  You may need to find those documents to prove you're not liable.

[Anonymous]

Written contracts is 3 years, promissory notes are 5 years.

I don't believe that the OP can be held responsible for the delinquency by the new party who took over the loan.  Since the new party would have had to sign paperwork making them the responsible party.

I would NEVER have signed any paperwork that still held me liable.  That's like shooting yourself in the foot.

Without contacting the original creditor you will never know. 

[chasmith]

Guinness, I agree that a proper agreement where the new party took over the property and associated loan with the consent of the lender wouldn't hold the OP liable.  We don't know if that's what the paperwork said 12 years ago.

[Anonymous]

yes i was free and clear. ive never received not one letter till a month ago.. theyve never even been on my report as good or bad.. so now they send this tax time settle letteri.. after all these years if thats it.. i dont know what else it could be. i just dont want a neggie on my report. i work hard to keep it clean.. as far as documents man that was way back when in 2001... it literally was like a bad decision day. i walked in walked out with a trailer..lol. then drove an hour to work every day and walked back in to the place said i dont want it lady said ok heres options i said which ever gets me from under it free and clear she said ok.. done.. never reported as a good credit or bad on my report.. so im guessing unless whoever took over didnt finsih paying then they come after me for balance?? soounds bogus. I just dont want any contact because i know activity restarts crap so.. what should i do? call them? DV it?

[Shogun]

If it is from who you are thinking f.  It's a 12 year old debt.  With just a couple of exceptions, it's past the SOL of almost every state.  I would however check to make absolute sure of this.  But it does appear to be a zombie debt at the least.  My course of action would be to send a DV to be sure of who the debt was originally from.

[Anonymous]

Just a thought since its not on my credit.. do i just ignore and throw letters away?? lol. I mean what can they do after 12 years of nothingness.. dang zombies...

[Anonymous]

well its from green tree i got no ther debts cept a nmac debt... thats from 2.5 yrs ago im sure they dont sell to green tree do they?? could they have bought my nmac debt cause i owed them9000 could green tree buy that at a lower price then try andsettle to me?? thatsmy only other thought of this..

[chasmith]

Green Tree Servicing is a mortgage servicer.  I don't believe they are a JDB, or that they would buy nmac (Nissan Motor Acceptance?) debt.

When you say you bought a "trailer" in 2001 for $68000 do you mean a mobile home with a lot?  Do you remember how long the note was - 10 yrs, 15 yrs, 20yrs are all possible for a mobile home with land?

I think you need to start with a DV to Green Tree.  My concern is that the party you signed over the property and the liability to may have defaulted say, two years ago.  That could mean GTS could "overlook" the transfer in 2001 to come after you, or what you signed might not be what you thought you were getting - free and clear from the liability.