Bankruptcy Law/HELOC paid in full
Back in Sept. '2010 i was approved to do a 3 month trial basis with our 1st mortgage with Wells Fargo. I immediately called our 2nd mortgage company Wells Fargo Financial to advise them about this. I spoke a young lady named Amanda and she informed me that $25 a month payment will sufficient since it will show good faith intentions to pay back what is owed on my account. I didn't get that in writing which i know i should've. I called couple months later and spoke to another lady by the name of Dolores and she said the same thing to me. No one ever said that if i don't make my payments it will go into default. I called again in December and no one told me anything. I tried to make an online payment but got denied saying my account has been closed. I called the customer service and of course told me they cannot help me. I didn't receive any letter regarding any default status. I finally got approved on my loan modification in February but by the time a got approved my situation with my 2nd mortgage went sour. They refused to even call their own company to see if I was telling them the truth. Then in Sept. '12 i finally sold the house through FHA and paid off both 1st and 2nd mortgage in full. I made enough to pay it off. Now my credit report is showing foreclosure for my 2nd mortgage. I contacted BBB and they have contacted Wells Fargo Financial but they refuse to reverse this. What can i do on my end??? This all happened when i lived in Hawaii.
If there was not a valid foreclosure, and if the entry is mistaken and the creditor refuses to remove the erroneous entry, you can bring a lawsuit under the federal Fair Credit Reporting Act and the federal Fair Debt Collection Practices Act. I have done a few of these cases over the years and they usually ended up with a financial settlement in addition to having the erroneous entries removed. Sometimes, just the filing of the lawsuit will get the creditors serious attention. It just all depends on the particular case involved. Do you have a good case for this? Hard to say without knowing more specific facts that you do not state in your question. If you would like to call me to discuss this further, I will not charge you just to talk on the phone. You can call me at this number:
If you choose to call me, I look forward to hearing from you.