Question
I've received an alert from credit agency that I owed 12K?
I have first and 2nd mortgage with Countrywide and they have approved a short sale, escrow closed 792008 with a letter from their Negotiator they will not pursue any deficiency judgements and also received a reconveyance letter that both loans are paid. Now, I received an alert from credit agency stating I owed $12k from BAC Home LNS LP/Countrywide, they have used the account of the 2nd mortgage and I don't understand it. They have put the same address as CW, please advise. Your help is greatly appreciated.
6 months ago - 6 answers
Best Answer
Chosen by Asker
Send them a certified return receipt letter demanding validation of the debt, which means they have to provide you absolute proof that you owe the debt. You have to do this within 30 days of receiving the notice. Chance are often high they will not be able to prove it. By law they cannot continue to send you any further notices or continue collection efforts until they provide this validation. They have to also provide this validation withing 30 days or receipt of your request. If they violate these conditions of the the law you can sue them for $1,000 plus any other costs such as loss of wages and stress.
by Stephen T
6 months ago
Asker's Rating: 
Other Answers
You need a real estate attorney.
by Cali- 6 months ago
You need 2 talk 2 the credit agency 12k is a lot of money
by secrets- 6 months ago
The Fair Credit Reporting Act of 1970 says that you are not legally obligated to pay collection agencies a dime, so call Countrywide and tell them to shove it up their ugly @ss.
by Kevin- 6 months ago
Ah! This sounds very stressful. All I can say is calling the company and asking to speak with a rep. It will all work out for the best!
by Justin S- 6 months ago
A credit collection agency has no legal standing. So you may ignore them, and Certainly do not let them into your home. Unless an appointed bailiff shows up at your door with a warrant, simply don't open the door to them. As for the debt, you should get in contact with the company directly, and discuss it with them. be sure to have all the aforementioned paperwork photocopied and in hand.
by paulred2- 6 months ago