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Discharged HELOC sold to debt collector

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    #1

    Discharged HELOC sold to debt collector

    I had a 117k line of home equity line of credit with ameriprise.

    It was discharged via bankruptcy. I assume the lien still exists.

    Anyway, have not paid it since it was discharged and now i got a call from a Debt collector asking how i was going to pay it.

    I told him it was discharged in my chap 7 and he said no problem. Faxed him discharge papers and that was that.

    Question is this...from what i read HELOC'S can be discharged but lien still remains...so what is going on here?

    I guess they can't foreclose since i am underwater...but just curious if anyone else had this type of situation.
    Tags: None
    #2
    This is such a frequently asked question. I wonder if it's a sticky. A simple forum search would yield you results.
    Retained Lawyer: 04/2009 Filed: 09/2009 341 Meeting: 10/2009 Discharged: 12/2009 Asset: 05/2010 made asset Closed: 07/2013 after 47 long months

    Comment

      #3
      Originally posted by jlaperch View Post
      I had a 117k line of home equity line of credit with ameriprise.

      It was discharged via bankruptcy. I assume the lien still exists.

      Anyway, have not paid it since it was discharged and now i got a call from a Debt collector asking how i was going to pay it.

      I told him it was discharged in my chap 7 and he said no problem. Faxed him discharge papers and that was that.

      Question is this...from what i read HELOC'S can be discharged but lien still remains...so what is going on here?

      I guess they can't foreclose since i am underwater...but just curious if anyone else had this type of situation.
      Are you still in your house or have you left it?
      Filed Chapter 7: 7/3/09
      341 Hearing: 8/6/09 - Went Smoothly!
      Discharged: 11/30/2009
      Closed: 12/16/2009

      Comment

        #4
        still here

        Comment

          #5
          Originally posted by jlaperch View Post
          still here
          If you want to stay in your house, you may try to negotiate a settlement with the debt collector. Some folks are able to negotiate 10 cent on the dollar and then get a release of the lien.

          I am in process of attempting to work something out on my HELOC with Wells Fargo.
          Filed Chapter 7: 7/3/09
          341 Hearing: 8/6/09 - Went Smoothly!
          Discharged: 11/30/2009
          Closed: 12/16/2009

          Comment

            #6
            What if you are surrendering the home? I'm assuming the HELOC that is discharged just "goes away" then?

            Comment

              #7
              Which bank was the HELOC with ??
              Stopped Paying CC's 2/2009. Retained Attorney 1/10/2010 Filed 1/23/2010. Discharged 5/19/10 $187K CC, $240K 2nd,$417K 1st, No asset Ch-7

              Comment

                #8
                Originally posted by kmbk2b View Post
                What if you are surrendering the home? I'm assuming the HELOC that is discharged just "goes away" then?
                Yes, it does.
                Filed Chapter 7: 7/3/09
                341 Hearing: 8/6/09 - Went Smoothly!
                Discharged: 11/30/2009
                Closed: 12/16/2009

                Comment

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