Quote:
Originally Posted by Enigma
Not a wise move IMHO. Once you became an investor in real estate you have attachable assets. If he/she purchases more than one property, depending on the state, then that property might possibly be foreclosed on.
If you have money to purchase real estate, then use that money to unencumber yourself from any and all matters that could haunt you.
YMMV....
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Yes, all you say is true,and you are wise, however if he has the money, and they wake up he can pay it off then. I guess it would depend on how long the judgement can last, and if he is about to buy.
As for foreclosing, his debts are small and he would be able to pay off before foreclosing I should think.
I know for me If I felt I was *haunted* then I would offer the minimum and see what they say, then go from there.
I'm a gambler though.
A few years back I was being dunned for over 300K, and I didn't want to do bankruptcy, and I have taken care of all the debts except two,(which are pending now)and I am dealing with)out of over 12,with negotiating at the last minute for at MAX 10 percent of what the OC CO was.
The fact that they never have done anything for five years seems like they have put this on the back burner .
I see that they are all medical debts. One thing that should be looked at is if on the CR's they say what the debt was for as is that not a violation?
ILMD