The Massachusetts AG is cracking down on a company collecting on "zombie second mortgages" — old loans that homeowners thought were dead but rise from the grave. People are losing houses over them.
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I wonder if one got it in writing that their loans were forgiven that would be enough to clear one's name. If so then the lesson is get things in writing.
I can’t wait for Attorney General Matt Gaetz to get really serious about big boy legal issues like this. I’m sure it’s just the kind of thing his administration will be focussing on.
money is always more important than any morality in this country especially. We live under a capitalist system and money is the only thing that it cares about. It's sick
Old loans that homeowners thought were long dead have been rising from the grave as debt buyers move to collect. Some are allegedly breaking the law. If this is happening to you, tell us your story.
I got divorced, my ex took the house and I took my retirement, myself and the credit debt which was about $50,000. I paid off the credit debt, but the bank came looking for me. He sold the house, and didn’t pay the second mortgage. I paid that debt to save my credit.
A business that spends more money than it makes🤭 naturally looks back if there is something else to fish🐟 for. Before it was too late, it would have been preferable to manage monthly cash flow💰.
Oh tell me we're not going to do a second round of nobody told me and I didn't read the documents and I know I got that money but now I don't want to pay?
Many years ago, I learned (on npr, oddly) that you should demand proof that the debt is theirs to legally collect on, and you won’t pay it until they do. They almost never produce evidence, due to paperwork lost in the bundling and delivery process. They tend to disappear.
Now the state of Massachusetts has taken action against one of those companies. It reached a settlement that eliminates hundreds of loans that had come back to haunt residents — a move consumer advocates hope to see replicated around the country.
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Learned of this months ago on NPR.
Glad to see the good people of Massachusetts have someone fighting for them.
If this is happening to you, you can fight.
Can they also do this with the bogus AF old traffic/dMV tickets they claim people haven’t paid from over 30 years ago but they have no records to prove it?!
Please clarify. A zombie debt is uncollectible by law. It’s usually because the statute of limitations has expired. If you get sued the judge will throw the case away.
These companies are using scammer tactics to make victims pay them. Anybody who falls for this scam is in for serious trouble.
Just toss the shit right in the garbage. if you call or make a payment on an old zombie debt you have reactivated the limitation terms. I believe in New York it is six years.
They’re trying to make us a credit report like china!
And don’t pay at work exorbitant fees I got a $2000 bill for my daughters biopsy of her wisdom teeth!
I Called them said you went out of network and I never saw another bill !
Document everything !
These companies use scammer tactics. There are also real scammers in this business. Those are harder to catch.
The tactics involve fear mongering (we are going to sue you) and a demand for urgency (need to pay us by tomorrow or else).
Hang up on them. Know your rights while you still have them.
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I wonder if one got it in writing that their loans were forgiven that would be enough to clear one's name. If so then the lesson is get things in writing.
Stop normalizing lunatics.
https://open.substack.com/pub/reinventhewheel/p/how-to-win-2028-rage-against-the?r=4p9ldb&utm_medium=ios
Glad to see the good people of Massachusetts have someone fighting for them.
If this is happening to you, you can fight.
These companies are using scammer tactics to make victims pay them. Anybody who falls for this scam is in for serious trouble.
They’re trying to make us a credit report like china!
I Called them said you went out of network and I never saw another bill !
Document everything !
The tactics involve fear mongering (we are going to sue you) and a demand for urgency (need to pay us by tomorrow or else).
Hang up on them. Know your rights while you still have them.