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My equity loan/2nd with B of A was charged off in Nov. of 2009 I beleive, and I've been making payment to B of A in NC, I believe their collections dept, where I let them take money directly from my checking account, since then; however recently I have a new account representative who called, and says that they no longer will accept the amount of the payments I've been making, but need quite a bit more now. I'm not able to make payments in the amount that they're requesting, and be able to pay for monthly expenses like food, gas, and utilities. I am not sure what to do. I'm current on my first mortgage, and am trying to pay the second, but this new person doesn't seem to want to work with me. I was allowed to make my current payment until 2/28/12, but need some advice before that time, as to possible ways to proceed. I'm not trying to get out of paying the debt. Can you give me any advice.
Thanks.

jameshogg · Posted: Sun Feb 05, 2012 11:02 pm Post subject:

Hi aaaeg,

You will have to somehow negotiate with the new representative so that you can make the payments as per your previous payment plan. In case, you can't negotiate with them, then you can take the help of an attorney in dealing with them. He might assist you in negotiating with them.

Thanks

Posted: Mon Feb 06, 2012 9:45 pm Post subject:

Hi aaaeg!

Welcome to forums!

I agree with James. Negotiation with the second lender is the key to get a better payment plan to pay off the debts. It will depend upon your convincing power whether or not you will be able to qualify for a better payment plan.

Feel free to ask if you've further queries.

Sussane

smithsussane · Posted: Mon Feb 06, 2012 9:57 pm Post subject:

It was me above!! Just forgot to login!!

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