Collection Log: "Borrower informed Payment Solutions specialist that payments will be mailed"
I've only seen this posted once before, but I just got another one. In both cases, it was a "current" loan, never late, with FICO holding up ... this was the first and only collection log post.
The last time I saw it, it was followed a few days later by Bankruptcy notice.
What's your experience with this? Should I be worried. Sell it first chance I get?
i usually get a bk notice a week or so later when this pops up...sorry for the news
If this one goes off "pending", it's going to get sold.
I believe that I have seen this note in the collection log, two or three times. Once, a manual payment was processed a week or two later and as far as I remember the note went current. The other time, the note was followed a month or two later with no payment and a Chapter 7 filing. I consider this note the proverbial, "Check's in the mail!" with attendant consequences.
Well, I called that one right. Luckily, I was able to sell it for $15 a couple of days ago, but I've been watching it and it got the BK note today.