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Can a settlement reached with a debt agency on a credit card account release a lien from a home?
Any lien that is place on real property should be released when the debt is settled in full or through a settlement as agreed to by the lender. A lien from a credit card is usually either a home equity loan, home equity line of credit or a judgment that has been filed in the appropriate courts. When we search real property for title insurance, we check the office where land records are recorded and the appropriate court for the state and/or county. The note holder of a home equity loan or line of credit should file the release document with the county or send it directly to you for recording. A judgment from court has to be closed with the court and that should release that lien from your name. Sometimes creditors "forget" to close the case with the courts and you should follow up yourself. You should always request your paid in full note or documentation showing that the debt has been settled and the creditor will remove the lien against you or your property. A settlement to remove a lien may not mean that you are not still responsible for the rest of the debt. It just means that they will remove the lien from the property. I am not an attorney so this information may not hold true in all cases, but that is how it is handled here.
What else can I help you with?
What happens to you if your account is transferred to a collection agency?
The agency will continue attempts to collect the amount owed plus any applicable fees. If a settlement cannot be made, the collector may decide to refer the account to a collections attorney for legal action.
Is Felix from Mission Settlement agency a liar and scam artist?
Absolutely No!If you are in the financial hardship and looking for a New York debt settlement company you join hands with Mission Settlement Agency
You received a settlement offer from a credit card company meanwhile it was turned over to a collections group.How do you get the collections group to turn the case back to credit card company?
If the collectors are an agency acting for the original creditor you can contact the OC to ascertain if the settlement offer is still valid. If the collector is a third pary agency that has purchased the account from the OC, any settlement negotiation will have to be done with them.
How do you pay a collection account?
Have the collection agency send a written agreement accepting the settlement or payment amount agreed upon BEFORE rendering any payment(s).
How do you satisfy an unsatisfied judgment after another collection agency bought the account from the first collection agency that originated the judgment?
you "satisfy" a judgment by paying balance in full or settlement. but understand that once a judgment has been issued by a court then there can be no one else that does this.
How is date of last activity defined for a settled credit card debt?
The date of last activity for a settled credit card debt is the date that the settlement check cleared your financial institution and was posted to that credit card account. As the account was settled, there would be no more activity on that account. I hope that you have a letter from the agency offering the settlement. Without a letter stating the amount of the settlement, you may have just made a big payment on the debt and someone else will be hounding you for the balance.
How to Settle Debts for Less Than What You Owe?
If you have an account with a creditor that is seriously delinquent, the creditor may agree to a debt settlement to pay off the account in full. You may approach the creditor with an offer yourself, or you may work with a professional debt settlement agency. Both methods have advantages and disadvantages that are worth researching ahead of time. If your creditor accepts the settlement, you only have to pay the agreed-upon percentage of the debt.
My account balance with American express has been turned over to a collection agency. Does American express over a reduced payoff as a settlement?
when a company "sells" a bad debt to a collection agency it is at a fraction of the total bill due. So, if you have a bad debt to American express in the amount of $10,000, more than likely it was sold to the collection agency for 2-3000. The remainder can be written off by American Express on the taxes that are filed by the company. What you can do is contact the collection agency after saving 40% of the debt (or 4000) and offer to negotiate a settlement. If you settle for $4000.00 you are saving $6000 and the collection agency is making 50-100% profit on the bad debt. This what the debt settlement companies do - no sense in paying the settlement company fees when we can negotiate ourselves.
What is the use of a collection agency debt settlement?
A collection agency debt settlement means when someone is in debt and a company offers a settlement amount to the creditors owed. Payment arrangements are discussed and made, sometimes the amount is way less than the actual bill.
Collection agency offered you a settlement amount to pay on account will it hurt your score if you pay just that settlement amount?
Wait before you pay! You need to get a deletion letter before you pay a dime because this will affect your score. Also it you have not made a payment in a while on this account, the negative mark will remain for 7 years from the date of the payment. Wait and get more knowlede before you make this payment.
Can a collection agency continue to report a collection account to the credit bureau after the account is sold to another collection agency?
No, once a collection agency relinquishes their claim to the account by selling it they must remove all negative trade lines related to that account from your credit reports. Hope this helps ST
What ad agency has the Levi's account?
wunderman
