Hunt & Henriques Collection on Citi 2nd Mortgage
Date: Wed, 11/17/2010 - 12:19
I reside in California and I received a letter from Hunt & Henriques, a debt collection lawfirm, Nov. 9, 2010 notifying me that my 2nd mortgage with Citi for a home I owned in Florida is in default and my balance of $75,335.75 is due. The balance due is more or less correct.
The Florida home in question went into foreclosure in October 2009. The first loan was with Chase and the second loan was with Citi. I can not file for bankruptcy due to good salary and assets that I own that could be liquidated to pay this debt.
Questions:
- Assuming H&H is acting as a debt collector for Citi, what would be the best settlement I could hope for?
- I sent a debt validation letter to H&H and have contemplated hiring an attorney to negotiate on my behalf. Will I get a better settlement doing so and is it worth the $2,500 flat fee they will charge to represent me?
The Florida home in question went into foreclosure in October 2009. The first loan was with Chase and the second loan was with Citi. I can not file for bankruptcy due to good salary and assets that I own that could be liquidated to pay this debt.
Questions:
- Assuming H&H is acting as a debt collector for Citi, what would be the best settlement I could hope for?
- I sent a debt validation letter to H&H and have contemplated hiring an attorney to negotiate on my behalf. Will I get a better settlement doing so and is it worth the $2,500 flat fee they will charge to represent me?
I think it will be better if you settle the debt on your own. Th
I think it will be better if you settle the debt on your own. There is no point in paying a fat fee to the lawyer if you have good negotiation skills. However, if you are not a good negotiator, then it will be better to get help of a lawyer. You should offer to pay minimum 40% of the debt. Otherwise, the collection agency is likely to reject your settlement offer.
