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fiasko527's Achievements


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  1. Just to keep everyone updated, I was ready to make a settlement payment, and at the last minute, they said, oh by the way, our 'investor' did not accept the settlement offer. I laughed at them and hung up on them. Im no longer in a position to negotiate a settlement offer with them. They call alot, but its always a recording to contact them when I get a chance. I'll probably call them in a month or so and see if they've changed their mind on being honest in their conversations with me. I would give this advice though with faslo.. GET IT IN WRITING BEFORE YOU DO ANYTHING. Also, on an unrelated note, Im finishing a settlement with BOA on a credit card.. 1400 on a 4800 balance!
  2. Thanks Denita, I appreciate it. I revised my settlement offer with them to include that I needed the required lien release and mortgage satisfaction documents. I also put in a line that they agree to not sell the remaining unpaid portion of the debt to a 3rd party collection agency. I'll keep everyone updated.
  3. Thank you. This is exactly what type of knowledge and insight I was looking for. On my settlement letter to them, I should state specifically something to the effect of: Upon agreement of settlement of this loan, Faslo agrees satisfy the mortage, release any liens on the property releated to this mortgage, and report the lein release and mortage satisfaction to the county of XXXXX. Would that be satisfactory to ensure everything is released?
  4. Denita, Yeah that's the company, and they purchased my defaulted subprime second loan. I had been receiving settlement offers, and actually received one the day after I called.. presumabley sent out before I made contact. That settlement offer was for 4100 on a 21k debt, roughly 20% of the balance. I've asked over and over again with them and made sure to stress that if settled, the remaining amount will be forgiven, the mortgage released, any and all collection activities will be suspended permantley, and the account will be closed. They have advised me they will send this to me in writing prior to any settlement agreement. I am awaiting that settlement letter prior to agreeing to anything. All of this was sent in my original settlement offer letter to them, which you can read in the first post. Are there any other questions or statements that I need to add to protect myself in case they do send me this settlement offer, which it looks like they are going to do. I am specifically looking for anything else that they could use against me. I saw an example on here where a lady settled with a CA on a Macy's account, however the CA sold the remaining debt to another CA. I am looking to protect myself for that situation specifically, along with any other similiar situations. Thanks a bunch, I will def. keep everyone posted.
  5. Any update on this porkchop?
  6. I currently have two mortages on my house, one of those 80-20 loans. I had some financial trouble in the past, however fixed all of those problems and am back soundly on my feet. I was behind on my first loan (primary) and got a loan modification, and am all caught up and even ahead now on that loan.. On my second loan, valued at about 21,000, I fell behind and had not made payments for quite a while. I called yesterday to make arrangements to pay the past due balance and catch up, and they offered me a staggering 90% settlement, where I would only pay 2100 of the balance and the debt would be settled. I have verified that they own the debt. It is with FASLO. Once they told me the settlement they asked me to fax in settlement letter, which I did.. It stated: After a second conversation with XXX on 04/13/2009, I am offering a settlement amount of $2100.00 which will be paid to your company, Faslo, by May 31st 2009. With this payment, the account will be settled, any and all collections activities will be ceased permanently, the account will be closed, the remaining debt forgiven, and the account will be “settled” with the appropriate notifications to the credit reporting agencies. I am awaiting a written response from them with their reply, however according to the supervisor, it should get approved. Is there anything I should watch out for on this, any advice anybody has when dealing with this, specifically for any specific wording when I receive their reply, etc? Thanks in advance!
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