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  1. #1
    Join Date
    Nov 2008
    Posts
    1

    Default Settling Wrote Off Debt

    My question involves collection proceedings in the State of: PA
    If you had a loan for a mobile home and the debt was wrote off as bad can you still settle and recover the title to the home? and with who do you settle, or start this process with?

  2. #2
    Join Date
    Jan 2006
    Posts
    38,867

    Default Re: Settling Wrote Off Debt

    If you had a loan for a mobile home and the debt was wrote off as bad can you still settle and recover the title to the home?
    maybe. it is up to the person with the lien on the title.

    and with who do you settle, or start this process with?
    It depends who actually owns the debt. If the original creditor still owns the debt, you would deal solely with them. If they sold the debt, I suspect it will be more expensive to buy the home then what you actually owe. The present creditor is going to want whatever they want but could be the full amount of the debt. Then, the lienholder is going to want whatever they did not get from the creditor when they sold the debt to release the lein.

    I would start with calling the leinholder and ask them if this is possible.

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