Hi All,
I received the following letter from IndyMac Bank. Is this a collection notice? What course of action should I be taking? I have contacted them previously and they refuse to work with me on a loan modification. This loan is a second mortgage. I am currently in a "special forbearance" and paying trial payments to my first mortgage lender. I would really appreciate any input/help on what I should be doing next. My goal is to wait as long as possible before I file a bk.
So the letter reads...
Account Number. xxxxxxxxxx
Dear (Me),
IndyMac Mortgage Services, a division of OneWest Bank FSB, is currently servicing your loan on behalf of ONEWEST BANK, FSB and is sending you this important notice as required by federal law.
As of the date of this letter, you owe a balance of $xx,xxx.xx.
Because of interest, late charges and other charges that may vary from day to day, the amount due on the day you pay may be different from the amount above. Please also note that this is not a payoff statement. A payoff statement might include other charges or additional third party costs that may be necessary. Hence, if you pay the amount shown above, an adjustment may be necessary after we receive your check, in which event we may inform you before processing your check. For a more detailed reinstatement figure or for payoff quote information, please call toll free 1.877.908.HELP (4357).
Unless, within thirty days after receipt of this notice, you dispute the validity of the debt or any portion thereof, we will assume the debt to be valid. If, within thirty days after your receipt of this notice, you notify us in writing that the debt or any portion thereof is disputed, we will obtain a verification of the debt or, if the debt is founded upon a judgment, a copy of any such judgment, and we will mail to you a copy of such verification or judgment. If you request the name and address of the original creditor, then upon your written request within thirty days after the receipt of this notice we will provide you with the name and address of the original creditor.
If you dispute the debt in writing or if you request proof of the debt or the name and address of the original creditor within the thirty daytime period that begins upon receipt of this notice, the law requires us to stop our collection efforts (through litigation or otherwise) to collect the debt until we mail the requested information to you.
If you wish to dispute the validity of the debt or obtain the name and address of the original creditor you must make such request in writing and send it to:
(Address Given)
2nd Page...
This company is a debt collector. We a r e attempting to collect a debt and any information obtained will be used for that purpose. However, if your debt has been discharged pursuant to the Bankruptcy laws of the United States, this communication is intended solely for informational purposes.
ADDITIONALS NOTICE FOR CALIFORNIA ACCOUNTS
The state Rosenthal Fair Debt Collection Practices Act and the federal Fair Debt Collection Practices act require that, except under unusual circumstances, collectors may not contact you before 8 a.m. or after 9 p.m. They may not harass you by using threats of violence or arrest or by using obscene language. Collectors may not use false or misleading statements or call you at work if they know or have reason to know that you may not receive personal calls at work. For the most part, collectors may not tell another person, other than your attorney or spouse, about your debt. Collectors may contact another person to confirm your location or enforce a judgment. For more information about debt collection activities, you may contact the Federal Trade Commission at 1-877-FTC-HELP or www.ftc.gov.
As required by law, you are hereby notified that a negative credit report reflecting on your credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of your credit obligations. We will not submit a negative credit report to a credit reporting agency about the credit obligation until the expiration of the time period set forth in this notice.
ADDITIONAL NOTICE FOR COLORADO ACCOUNTS
For information about the Colorado Fair Debt Collection Practices Act, see www.ago.state.co.us/CADC/CADCmain.cfm.
A consumer has the right to request in writing that a debt collector or collection agency cease further
communication with the consumer. A written request Lo cease communication will not prohibit the debt collector or collection agency from taking any other action authorized by law to collect the debt.
ADDITIONAL NOTICE FOR MASSACHUSETTS ACCOUNTS
You have the right to make a written or oral request that telephone calls regarding your debt not be made to you at your place of employment. Any such oral request will be valid only for ten days unless you provide written confirmation of the request postmarked or delivered within seven days of such request. You may terminate this request by writing to the creditor.
ADDITIONAL NOTICE FOR UTAH ACCOUNTS
As required by Utah law, you are hereby notified that a negative credit report reflecting on your credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of your credit obligations. We will not submit a negative credit report to a credit reporting agency about the credit obligation until the expiration of the time period set forth in this notice.
I received the following letter from IndyMac Bank. Is this a collection notice? What course of action should I be taking? I have contacted them previously and they refuse to work with me on a loan modification. This loan is a second mortgage. I am currently in a "special forbearance" and paying trial payments to my first mortgage lender. I would really appreciate any input/help on what I should be doing next. My goal is to wait as long as possible before I file a bk.
So the letter reads...
Account Number. xxxxxxxxxx
Dear (Me),
IndyMac Mortgage Services, a division of OneWest Bank FSB, is currently servicing your loan on behalf of ONEWEST BANK, FSB and is sending you this important notice as required by federal law.
As of the date of this letter, you owe a balance of $xx,xxx.xx.
Because of interest, late charges and other charges that may vary from day to day, the amount due on the day you pay may be different from the amount above. Please also note that this is not a payoff statement. A payoff statement might include other charges or additional third party costs that may be necessary. Hence, if you pay the amount shown above, an adjustment may be necessary after we receive your check, in which event we may inform you before processing your check. For a more detailed reinstatement figure or for payoff quote information, please call toll free 1.877.908.HELP (4357).
Unless, within thirty days after receipt of this notice, you dispute the validity of the debt or any portion thereof, we will assume the debt to be valid. If, within thirty days after your receipt of this notice, you notify us in writing that the debt or any portion thereof is disputed, we will obtain a verification of the debt or, if the debt is founded upon a judgment, a copy of any such judgment, and we will mail to you a copy of such verification or judgment. If you request the name and address of the original creditor, then upon your written request within thirty days after the receipt of this notice we will provide you with the name and address of the original creditor.
If you dispute the debt in writing or if you request proof of the debt or the name and address of the original creditor within the thirty daytime period that begins upon receipt of this notice, the law requires us to stop our collection efforts (through litigation or otherwise) to collect the debt until we mail the requested information to you.
If you wish to dispute the validity of the debt or obtain the name and address of the original creditor you must make such request in writing and send it to:
(Address Given)
2nd Page...
This company is a debt collector. We a r e attempting to collect a debt and any information obtained will be used for that purpose. However, if your debt has been discharged pursuant to the Bankruptcy laws of the United States, this communication is intended solely for informational purposes.
ADDITIONALS NOTICE FOR CALIFORNIA ACCOUNTS
The state Rosenthal Fair Debt Collection Practices Act and the federal Fair Debt Collection Practices act require that, except under unusual circumstances, collectors may not contact you before 8 a.m. or after 9 p.m. They may not harass you by using threats of violence or arrest or by using obscene language. Collectors may not use false or misleading statements or call you at work if they know or have reason to know that you may not receive personal calls at work. For the most part, collectors may not tell another person, other than your attorney or spouse, about your debt. Collectors may contact another person to confirm your location or enforce a judgment. For more information about debt collection activities, you may contact the Federal Trade Commission at 1-877-FTC-HELP or www.ftc.gov.
As required by law, you are hereby notified that a negative credit report reflecting on your credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of your credit obligations. We will not submit a negative credit report to a credit reporting agency about the credit obligation until the expiration of the time period set forth in this notice.
ADDITIONAL NOTICE FOR COLORADO ACCOUNTS
For information about the Colorado Fair Debt Collection Practices Act, see www.ago.state.co.us/CADC/CADCmain.cfm.
A consumer has the right to request in writing that a debt collector or collection agency cease further
communication with the consumer. A written request Lo cease communication will not prohibit the debt collector or collection agency from taking any other action authorized by law to collect the debt.
ADDITIONAL NOTICE FOR MASSACHUSETTS ACCOUNTS
You have the right to make a written or oral request that telephone calls regarding your debt not be made to you at your place of employment. Any such oral request will be valid only for ten days unless you provide written confirmation of the request postmarked or delivered within seven days of such request. You may terminate this request by writing to the creditor.
ADDITIONAL NOTICE FOR UTAH ACCOUNTS
As required by Utah law, you are hereby notified that a negative credit report reflecting on your credit record may be submitted to a credit reporting agency if you fail to fulfill the terms of your credit obligations. We will not submit a negative credit report to a credit reporting agency about the credit obligation until the expiration of the time period set forth in this notice.
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