Collection agency looking for payment

[Momio32]

What is the name of your state? NY

A house I owned went into foreclosure in 2007. It was auctioned for 366K but mortgage loans were for 320K and 80K=400K. I received a letter from a collection agency Dyck O'neal stating: "enclosed are copies of the documents that support the debt owed to Dyck O'neal. The amount owed as of the date of this letter which includes principal, interest, and fees is 94K." The loans were first with Chase, then I guess they transferred this account over to collections. The situation I'm in is too long to explain and very complex, but I do not have that kind of money to pay these people back. What are my options? Do I need a lawyer and if so, what kind of lawyer should I get, a real estate lawyer or what? I have no idea what to do and I'm very worried as I have no money for something like this.

[burtsbee]

if you have no money, you have no reason to worry about these lowlife collection creeps. Take a deep breath and be happy to be alive and dont make yourself sick over something you probably had no control over.

[Momio32]

I do have reason to worry. I do not want them trying to garnish my paychecks, bank accounts or take me to court over this. We are talking alot of money here, which I do not have. I'm a single mom with 2 kids trying to make ends meet. I'm very worried. You are right about one thing, I had no control over this entire situation because I was misled from the very beginning.

[LindaP777]

burtsbeesis full of beeswax! Burt, do not post unless you know what you are talking about.

If your lender got a deficiency judgement against you, they may be trying to collect. Not knowing your exact circumstances though, we can only guess.

[Zigner]

You may want to look in to filing bankruptcy.