bankruptcy: HELOC's Turning Into Open Collections After Foreclosure
- 04/01/12 12:47 PM
Have a client who decided to let there home foreclose and the HELOC's turning into an open collection after foreclosure? that had a home equity line of credit? Did that HELOC unattached from the property and go after your client now its in collections? Its happening all the time. So now not only does your client have a foreclosure on there credit but now they have a HELOC that was sold to a collection agency for pennies on the dollar harassing them and continuing to drag their credit through the mud. Here are there options: -Pay it off -Do nothing! There … (2 comments)
Have a client who decided to let there home foreclose and the HELOC's turning into an open collection after foreclosure? that had a home equity line of credit? Did that HELOC unattached from the property and go after your client now its in collections? Its happening all the time. So now not only does your client have a foreclosure on there credit but now they have a HELOC that was sold to a collection agency for pennies on the dollar harassing them and continuing to drag their credit through the mud. 
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