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Hi 2 yrs ago we walked away from our home (i lost my job) 2 loans on the house the big loan forclosed the 2nd one is still outstanding 60,000$.
The loan is now in dept collectors we sent certified letter stating we would pay 10,000$ to settle they called us and they recieved the letter but wanted our personal imfo which we refused but have not heard from them sense and its been 4 months.
What do we do next ?
Darren
60,000$ in Dept
You can contact collection agencies and request them for a validation letter. If they give you satisfactory proof, then you may negotiate with them for settling the loan. You may also contact a reputable financial institution to get debt consolidation loan to repay the existing debt. But, you need not to give any personal information to collection agencies.