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veasnp

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2nd mtg discharged & removed(after foreclose) now collection company sent letter to collect ignore?
I had a property with 2 mortgages, the property was foreclosed 1st mtg was cleared 2nd was discharged yet remained on my credit report. I reached out to a lawyer about 1 yr ago and was told it had a few months to fall off my credit report bc of the fair credit act. It has dropped from my report in may-june. On sept i received a letter from a collection company saying i owe 90k from a mtg and if i want to settle i can pay 9k(10%). Am I still responsible for this money or did the collection company buy bad debt and is trying to scare me to pay? I have not been in contact with either of the two.

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Look up the "Statute of Limitations" to be sued for that type of debt in your state. Under no circumstance communicate with the debt collector until you are fully informed on the laws and how to deal with this. If the debt is outside the SOL in your state to be sued for it, then legally you are off the hook for the debt. If that is the case, then you can send the collector a "Cease & Desist Letter" or contact an attorney that handles FDCPA cases if the collector starts to harass you.

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