Settling debt for less than the full amount can be a smart solution. Carefully review the debt for errors and negotiate a discount for immediate payment. Creditors may accept 50-65% of the balance. Be persistent with calls and emails. Hiring a debt relief attorney is an option, but doing it yourself is cheaper by drafting your own debt settlement offer.
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I need to submit a proposed payment plan for a delinquent HOA balance.
I understand. Have you already spoken with the HOA about this matter?
Not directly, their attorney. I had replied to a summons.
Are there any specific terms or conditions you would like included in the proposed payment plan?
I would like to have the lien removed and keep the payment at $155.00.
Is there anything else the Real Estate Lawyer should know before I connect you?
Just that I had a loan modification in September 2024, and my first adjusted mortgage payment will be on February 1st, 2025.
Hello! Legal Eagle here, and I am an attorney specializing in your area of law. I’m more than happy to help! To clarify—were you sued in court?
I was served. I have a case number, but I haven’t been to court. Please excuse me—I've never had to deal with courts in my 71 years.
Understood, thank you. Just a few more questions. Have you received any communication from the HOA or their attorney regarding your case since the summons?
I received the ledger and the payoff information.
Got it. Now that I have this info, what is your legal question for me?
I’ve been trying to find the right format (document form) to create the plan, but the only samples I find are for lending companies.
Settling debt for less than the full amount can be a smart solution. Carefully review the debt for errors and negotiate a discount for immediate payment. Creditors may accept 50-65% of the balance. Be persistent with calls and emails. Hiring a debt relief attorney is an option, but doing it yourself is cheaper by drafting your own debt settlement offer.
I will send them the plan I just completed with eForms. Thank you for your assistance.
