selling

[ando]

I decided to sell my house . I have large sum of unsecured debt.Mortgage payments are up to date. closing will be in 2 weeks , I owe credit card debts one of the banks that I have mortgage with .Do I have to worry about them deducting their unsecured debt that I owe them at closing ? or is that a different matter that I should resolve after the closing is done.How about the big check that I will be getting from the buyer? can I deposit it in my checking account and later do the settlements by sending letters to each unsecured account I have? Do I have to worry about the money being confiscated by collectors? as of now ,I have no judgments and no threats of law suits except letters from collecting agencies . All accounts have been discharged by original creditors about 8 months ago.

[StartingOver08]

I decided to sell my house . I have large sum of unsecured debt.Mortgage payments are up to date. closing will be in 2 weeks , I owe credit card debts one of the banks that I have mortgage with .Do I have to worry about them deducting their unsecured debt that I owe them at closing ? or is that a different matter that I should resolve after the closing is done.How about the big check that I will be getting from the buyer? can I deposit it in my checking account and later do the settlements by sending letters to each unsecured account I have? Do I have to worry about the money being confiscated by collectors? as of now ,I have no judgments and no threats of law suits except letters from collecting agencies . All accounts have been discharged by original creditors about 8 months ago.

Have these accounts been discharged in bankruptcy? or do you mean charged off?

If they have been discharged (not dismissed) then you do not owe these balances.

If you have not had a BK and these accounts have been charged off, then when you sell your property, make sure that the proceeds are deposited into a NEUTRAL bank account that does not have any past due credit card balances associated with it.

The title co can only deduct selling expenses, liens and mortgage balances from your proceeds - not unsecured debt.

[ando]

Have these accounts been discharged in bankruptcy? or do you mean charged off?

If they have been discharged (not dismissed) then you do not owe these balances.

If you have not had a BK and these accounts have been charged off, then when you sell your property, make sure that the proceeds are deposited into a NEUTRAL bank account that does not have any past due credit card balances associated with it.

The title co can only deduct selling expenses, liens and mortgage balances from your proceeds - not unsecured debt.

thank you startingOver , yes I meant charged off , sorry about the typo.

[ando]

I decided to sell my house . I have large sum of unsecured debt.Mortgage payments are up to date. closing will be in 2 weeks , I owe credit card debts one of the banks that I have mortgage with .Do I have to worry about them deducting their unsecured debt that I owe them at closing ? or is that a different matter that I should resolve after the closing is done.How about the big check that I will be getting from the buyer? can I deposit it in my checking account and later do the settlements by sending letters to each unsecured account I have? Do I have to worry about the money being confiscated by collectors? as of now ,I have no judgments and no threats of law suits except letters from collecting agencies . All accounts have been discharged by original creditors about 8 months ago.

charged off