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I am in a continuous nightmare w/ a predator loan. They were the 2nd mortgage on the home. The 1st was current. They took us to court, but the judge through out the claim as non permissable. I sold the house 5 months later and made an agreement to pay the principle amount. I wanted to honor the loan even though it was deemed a predatory loan. I want to pay the princple. They agreed to this along w/ some other stipulations. On Oct. 28,2005, they recieved a wire transfer of the money. The debt was settled. Two years later, they are back stating we owe a different monetary amount. Also another bank (Deusth) now owns this account. They have since sold it to two other debt collection companies. I am being harassed by these peolple. Ihave the docs w/ the settlement agreement, but they say I still owe this amount. I want to know can I sue for the settlement amount and more for the harassment, etc?

larry · Joined: 27 Jun 2007 Posts: 3322 474.67 Dollars($)

Hi barbara.

Welcome to the forum.

If you think that you have paid off the debt then you can ask then for debt validation in writing. If they are harassing you and you don't owe the debt then you can file complaints with the Federal Trade Commission and Attorney General's Office in your state.

Feel free to ask if you have any further questions.

Best of luck,
Larry

smaildaytoday · Joined: 15 Oct 2007 Posts: 52 0.00 Dollars($)

Hi, if you owe a second mortage loan, the second mortgage company can claim a foreclosure for your house.

Guest

I sent a debt validation and Cease & desist letter. I settled the account over two years ago. They have the proof. They are now saying the settlement was only to release the lien on the property. They have since sold the account to two other companies. I send the same letters and the claim always end back with Resurgent Capital Management. I should add that i 2005 a judge dismissed the case. I however, settled and now in 2007 the want to renege on the settlement. In 2008 they are stating the settlement was not a settlement. ( I do have the signed agreement of settlement) I have sent letters to NJ & SC Attorney Generals offices, the BBB, and the FTC. I am unable to get any help. Can I now sue them for actual, punitive, compensatory and statutory damages? I have lost my home, my marriage, a good paying job, etc. This is driving me crazy. I am on SS Disability. What can I do?

helping_user · Posted: Fri Aug 22, 2008 12:54 am Post subject: RE:

Welcome barbara.

It looks like the debt collector now wants to extract more money from you. That's the reason he's simply ignoring the settlement amount you paid.

gmakerley · Posted: Fri Aug 22, 2008 9:19 am Post subject:

i was about to suggest speaking with an attorney also.

as to the original question, of course a second mortgagee can bring foreclosure proceedings. any party with an interest in (lien on) a property can begin a foreclosure action if the need should arise.

Guest

The judge ruled against the predatory loan company. He dismissed without predjudice. The ruling came with me in absentia. I know this mean they can try to sue again. However, I did not let it come to this. We agreed for a settlement of the principal balance. It has been about 4 weeks since I last heard from them. i have sent letters of complaint to the bbb and the FTC, along with SC attorney general. I sent a debt validation and a cease and desist letter. they tried to send me some bogus non-validation information. i pray the nightmare is now over. The FTC and the state attorney general were really no help. I believe the threat of using their names may of made the collectors cease all communication. I now have to deal with the credit bureaus for placing info on my report with validation.

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.12 Dollars($)

I would have an attorney look over the paperwork that was signed since it could contain wording that may not be in your favor. It is the only way to get to the bottom of this. Hope it works out for you.

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