Chicago IL – You can get your life back on track after a short sale. One of the first things you’ll want is to start repairing your credit. But, how do you get those pesky collections off your report? I’ll show you a couple of techniques here.
Collections can be very easy to remove. The reason is that most collection accounts have been transferred several times. The original lender gave it to a collection agency for 6 months. The collection agency couldn’t collect. Then, the original lender gave it to another collection agency. They couldn’t collect it either.
So they finally sold it to a debt buyer for three to five cents on the dollar. The debt buyer wrote them a check. But, the paperwork hardly ever gets transferred over properly. Here is the first step.
Dispute it with the credit bureaus. You may not agree that it is your collection. That will take 30-45 days to process. It will often clear up the problem.
Then, dispute it with the debt buyer (or collection agency) noted on your report. You can’t dispute with them until you have disputed with the credit bureaus first. Request an investigation. They have 30 days to respond. Most will not have documentation.
They may send you documentation. But, it isn’t very specific. If that happens, then ask for specific documentation. I would ask for a copy of a document that is signed by the company that sold them the debt. The document should clearly state all your account information.
It should have the account number, your information and address, and the amount owed. In addition, it should be signed by the president of the company. That is the burden of proof I would request. I doubt they would have something like that.
If the techniques above don’t work (that will be rare), then settle the debt. Pay them from five to twenty cents on the dollar. They agree to report to the credit agencies as “paid as settled.” You get what you want and they get a little money. Everyone wins.
Do you want to short sale your property and never pay the bank another penny? I can help you do that.
Send me an e-mail at firstname.lastname@example.org. I will contact you for a free consultation. When we talk, I will explain how the process works in detail and answer any questions you may have. Or, if you prefer, you can call me at (312) 953-6725.
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Thanks for reading this, Phil Buoscio.
Phil is a Real Estate Agent at Better Living Realty – Buoscio Brokerage, Inc..
Phone: (312) 953-6725. email@example.com.
View My homes for sale at www.BetterLivingRealty.com.
Phil Buoscio, is a broker with Better Living Realty he leads the sales team “Phil Buoscio Team” and specializes in short sales in Chicago Illinois. Chicago Loan Modification Help can be referred to you. We don’t do loan modifications ourselves but we work with those who do.
We know Chicago Short Sales. I am a Chicago Short Sale Realtor. Chicagoland Short Sale Realtor. Chicago IL Short Sales. Chicago Realtor. We do business in Pilsen. McKinley Park. Bridgeport. Wicker Park. West Town. Ukranian Village. Lincoln Park. Near North. River North. East Village. Logan Square. Uptown. Edison Park. Portage Park. Hermosa. Lincoln Park, South Loop, West Loop. Bronzeville. Hyde Park. Kenwood. Oak Park. Brookfield. Cicero. Berwyn. Evanston. LaGrange. LaGrange Park. Riverside. We sell condos, single family homes, lots, land, multi units, two flats, three flats, etc.
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