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Dealing With Collection Agencies

Can a debt collection agency ask me to stop making mortgage payments?

I do have a debt collection account on my credit report. This collection agency has instructed me to stop making mortgage payments. Is this legal? Should I really stop making mortgage payments?

Asked on Tue, 02/04/2014 - 12:35
anonymous
3 Answers

Your home is pledged as collateral against your home loan. Take steps to continue making the monthly mortgage payments so that you don't run the risk of losing your home to a bank foreclosure.

Answered on Wed, 02/05/2014 - 14:33
AdriaNicholson

How much do you owe on your mortgage and unsecured debt? Don't stop making mortgage payments. Give preference to secured debts as there is a risk of foreclosure.

Answered on Wed, 02/05/2014 - 10:47
ditchdebt

There is nothing illegal about this. You owe a debt and your mortgage payment is a payment that could be deferred.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html
Answered on Wed, 02/05/2014 - 09:35
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