Dyck Oneal Promissory note - Please help!

You are in a complicated situation. Our forums expert will come shortly and tell you what you need to do in this respect.

Well things have changed for the worse now. I looked at another credit report from equifax and that is where they reported it. So it wasnt under all credit reports. I am 120 days past due and in a hole I feel like. I guess the most I can do is either 1.) try to back pay what I owe.... ugh 2.) keep making my normal monthly payments.

I'm not sure I understand your situation, but here's what I'm assuming: You sold your home via a short sale approximately 18 months ago, and there was a deficient mortgage in the amount of around $14,000, which was sold to Dyck Oneal? Dyck Oneal is now attempting to collect on this deficiency, and has offered you a 50% settlement. If this is the case, and you can't afford a 50% settlement, but you can afford to resume payments, why not do a little of both? Speaking from both a professional standpoint, as well as a personal standpoint, I would offer them a lower settlement of around 25-32% via installments. If you can settle a $14,000 balance for right around $4,000 via eight installments of $500.00, this may be a good option for you. Of course, you'll have to tailor the payments to fit your budget. Good luck!

When I spoke to the lady at Dyck Oneal, she said that she could only accept a lump sum if there was a settlement. Unfortunately I was unable to come up with the 7k which would be the 50 %. She said as well that she couldnt do anything as far as removing the late payments from my credit. So I went ahead and paid the past due amounts and got my account current again. She said that if I wanted at a later date I could settle at 50%. Hopefully some resolution comes out of this, I am just trying to do that right thing.

It all just seems still kinda strange to me. After looking at my credit report and myfico score / report, some stuff seems confusing. First off, on the myfico report, it says for dyck oneal "current status - 120+ days past due" but then under "worse delinquency" it says 60 days past due. Then under the payment history it has that they quit reporting anything after July of this year. I believe from looking at my equifax it shows the same thing, they just quit reporting. Why would this be?? The woman at Dyck Oneal said today that I should make my back payments before dyck oneal catches it and puts it on my credit. She said again she is unsure why they haven't caught it and reported it. UGH!!