Repo:paying 2K instead of 26Kgreenspun.com : LUSENET : Repossession : One Thread
My mobile home was repossessed ayear and a half ago. I have an agency offering to let me pay 2000 instead of 26K. Is it possible to do this and have a 0 balance on my credit? Also, will I get a letter from the IRS saying that I made income of 26K because of the house? They said the next step is to go through lawywer to obtain there money and it would be 26K.
-- Melissa Ann Bell (firstname.lastname@example.org), May 17, 2002
Providing you get it in writing that they will take 2K as 'Full & Final Settlement' I don't see a problem.
-- Julie (Julierogers@btinternet.com), May 19, 2002.
Melissa -it doesn't work like that in the States (sorry Julie!). Find a site that deals with US repo's and repost your question.
-- Too scared to say (email@example.com), May 19, 2002.