Foreclosure University Forum


Trying to collect on home equity line of credit (Foreclosures)

by foreclosureuniversity ⌂ @, Monday, July 22, 2013, 17:32 (2450 days ago) @ noah_s

You've got a couple different options. Number one, you can settle with them. Most of the time they are looking for a specific amount. In some cases, if you know a good attorney, have them talk to the collection agent because they use a whole different tone when dealing with attorneys. It may cost you upfront, but may be worth it in the end. You can tell them your attorney has advised you to file bankruptcy and that's what you plan on doing. A lot of times they may reduce the amount they will settle for because if bankruptcy is filed most of the time they get nothing. Or you can do nothing and hope a deficiency judgment is not filed.

Good Luck

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