Debt Reduction Law Center/E. Francisco and Assoc.
Date: Fri, 06/11/2010 - 21:27
Unfortunately, Debt Settlement / Reduction companies are known t
Unfortunately, Debt Settlement / Reduction companies are known to be circuitous with their client. You may see their move as unethical but they certainly do not. Many people are suck into easy sales pitch by debt reduction organization. You may of have already give up all your right to sue with their initial retainer agreement. These agreements typically are one sided, with non responsibility clause.
There may be high probability that creditor (Bank) may not sue you for deficiency judgment as most homeowners are up side down in their loans. Nothing is guarantee. If they notice you conceal asset than possibility of law suit exist. Perhaps, you should check local state law if deficiency judgment is allowed. I know states like Arizona, possibility exist.
Have you talked to your bank to find out there is any possibility of absolve exist on past due amount ?
Ben
An article you may find interesting is at the link below, I had
An article you may find interesting is at the link below, I had to deactivate it per forum rules, just paste it into your browser:
'http://consumerist.com/2010/06/3-reasons-to-avoid-using-a-debt-settlement-company.html'
