My mobile home was repossessed ayear and a half ago. I have an agency offering to let me pay 2000 instead of 26K. Is it possible to do this and have a 0 balance on my credit? Also, will I get a letter from the IRS saying that I made income of 26K because of the house? They said the next step is to go through lawywer to obtain there money and it would be 26K.

-- Melissa Ann Bell (luv_me_bunches@yahoo.com), May 17, 2002

Answers

Melissa

Providing you get it in writing that they will take 2K as 'Full & Final Settlement' I don't see a problem.

Julie

-- Julie (Julierogers@btinternet.com), May 19, 2002.

Melissa -it doesn't work like that in the States (sorry Julie!). Find a site that deals with US repo's and repost your question.

-- Too scared to say (iwasduped@yahoo.com), May 19, 2002.