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Property Lien Settlement(s)

Date: Wed, 10/29/2008 - 07:18

Submitted by res0asku
on Wed, 10/29/2008 - 07:18

Posts: Credits: [Donate]

Total Replies: 4


Due to an upcoming wedding in our family, I called our credit union to increase our home equity credit line. At that time I found 2 credit card liens had been placed on our property. The liens were in my spouse’s name and I was not aware of them until now; they are both about 2 years old. My spouse is unable to work and is on disability; other than her name on the title to our home, she has no assets.
I would like to begin the settlement process, but don’t know how to proceed. Is it too late to ask for a debt validation? Should I call the lien holders shown on the most recent title report and discuss a settlement?
Also, last week my spouse received another summons and complaint for another credit card – she has 30 days to respond. I did notice that this complaint showed her residing in the wrong town.
Our state is Oregon.
I would appreciate direction on how to precede -- DV, phone call, settlement offer?
Thank you.


In many locales, a judgment automatically acts as a lien against any real property you own. If they've obtained a judgment against her, and she has title to the house, then those liens probably are valid.

Any fdcpa dispute you file, all the CA is required to do is send you a copy of the judgment. To fight the judgment itself, you will have to motion the court to vacate the judgment -- on some grounds, like improper service etc.

Other than that, if the lien remains valid, your only option will be to settle. Your best option is to lookup the case, and call the attorney who filed for the creditor. They are usually authorized to accept settlements.


lrhall41

Submitted by DebtCruncher on Wed, 10/29/2008 - 20:49

( Posts: 2293 | Credits: )


I think DebtCruncher is spot on.

Based on recent experiences, I had a lien on my house too from judgements incurred over 10 years ago.

Find an attorney with a proven track record of negotiating down debt settlements.

If you get a good attorney, you may pay more up front but if the debt amount on the judgement is high enough, you will end up paying alot less overall if you can get an attorney to negotiate it down enough.

Once it is paid off, the creditor will provide you a "release of judgement" and whatever equity in your home will finally be yours again.

the most important thing to do is "Dont avoid it or put it off."

Address it as fast as you can because unfortunately, they can keep tacking on interest and pushing the debt higher and higher unless you settle quickly.

there are other alternatives such as bankruptcy but I suggest you try everything else first.


lrhall41

Submitted by dudefromtexas on Thu, 10/30/2008 - 07:55

( Posts: 6 | Credits: )


Thanks for your help.

Would it help my settlement efforts it I provide a debtors exam to the CA????????s showing her only asset is her joint ownership of our home.

What is a fair percentage of the total amount to offer the CA? Should I make this offer in writing or is a preliminary telephone call in order?

Also, what do I do with the pending judgment which shows her residing in the wrong town?


lrhall41

Submitted by res0asku on Thu, 10/30/2008 - 09:00

( Posts: | Credits: )