No, it is not Halloween. But there is something scary on the horizon. Old HELOC, Second Notes and foreclosure debt from the financial mortgage crisis is making its way back in the form of debt collection lawsuits.

My new Zombie Debt video advises how I handle the old debt in response to collection lawsuits and letters. It really is just debt buyer debt and should be handled the same way we handle UHG, PRA, MCM, Crown Asset and all the other old debt buyers with a mortgage/real estate twist. We have an Answer, Counter Affidavits, PDF Check List and Letters attached to the Zombie Debt video, just like we do with any debt buyer case. Just check your state rules on allonges and mortgage notes regarding when the exist and in what form. Also, check the letters from the collector or servicer on the debt to see if they violate the FDCPA rules. This debt is usually collected by unsophisticated players in the industry just expecting you to roll over. Don’t give them the satisfaction and fight back with education.

But again, it is all (scary) old debt with a questionable background and lack of proper chain of title. Back from the dead. Just keep your emotions in check (I get it) and don’t engage with the debt collector without keeping your cards close to your vest and only talking under the guise of settlement discussions. “This conversation is being had for the purposes of settlement discussions only.” Keep saying that.

I provide you powerful stuff to defend sue a collector upon or use it in your Answer and a Counterclaim. That advice can work for a lot our inquiries on the site. Give it a shot. Thank you. As always, please send me any comments or suggestions you have or ask for any video you want me to do. Thank you.

Brian Parker