Forums
I will try to make this short
1992 25,000 CD
Secured it as a loan 1995
Refinance 1997 $6000
and again in 2003 $7000
Now the loan is in default
Can I even imagine a setlement being negotiated to pay the loan off w/o to much in interest and the balance of the interest be returned?
Or should I just let it go into default and the cards fall where they may?
You should contact the company and try for a settlement. Paying off the debt will be much better than to let it remain in default and damage your credit profile.
ok I contact the bank pay the loan amount off FROM the existing CD and I should get whatever remains minus of course the early withdrawl penalty is that correct?
Yes, I think that should be possible.
Thank you so very much