Help with document wording: should we sign or not sign:please advise!

[Ann]

Here is the latest in my great attempt to settle that second with PNC...I went ahead sent them all the financials they asked for and was told because we did not sign one of the docs they cannot follow through with a settlement...here is what I refuse to sign..."we understand that interest accrued and any other amounts due and not as yet paid will become due and payable as set forth on the next statement." "If the account is a home equity line of credit account, we direct PNC Bank to release the property lien at the time the balance is paid in full."
Now to me this sounds like they are saying I owe them and that I am agree to pay them what I still owe them. Please advise me. I emailed the person I'm working with and she said they cannot move forward without this. I don't like the wording. What do you think?

[tcreegan]

Hi Ann,

Easy one here....do NOT sign that. It puts you on the hook for Lord knows how much interest, late fees, atty fees, whatever fees,

Go back to the person and tell them you need to go up a level to someone who can actually negotiate a settlement. If they are asking for financials to see if you "qualify" then you are too low on the food chain, go up a notch.

Tom in Colo

[Ann]

I did find in very small print on the back of the document that there was a special notice to those that have filed a petition for protection under the United States Bankruptcy Code. Unless you have signed a reaffirmation agreement with PNC disregard all portions of the letter with suggest that you still have a personal liability to pay PNC Bank. Not that I have or that I want to sign it but IF I did just to get these idiots to go through with their formalities would I be protected because I didn't sign a reaffirmation?

[df04527]

I still wouldn't sign it regardless if it says to ignore it. Also why aren't they ignoring it too then? See what I mean?

[enuffznuff]

Your Bk is already discharged... so if AFTER discharge you sign something agreeing to pay fees and interest...
That seems worrisome to me.

[Ann]

Thanks everyone for your advice. Husband and I discussed it and we both decided signing it would be a bad idea with or without the so called bankruptcy wording. I emailed the person who is working on my settlement and told her I would not be giving them anymore information and absolutely would not be signing and faxing any document with that kind of wording in it. I told her that if what I gave her was not sufficient for any kind of consideration then oh well! She has returned every email pretty quickly in the past few days but not my last one. I'm not sure what they are thinking or what they are going to do but I definitely didn't like the wording in that document. I'm just wondering if anyone here that did settle their second mortgages had to go through all of this bull****???