Hello - Hopefully someone can help me!

1. I short sold a condo in Atlanta and signed a 15K promissory note in 2007
2. I short sold another condo in Miami and signed a promissory note in 2008 for 70k
3. I had another condon in Florida that got forclosed in 2008.

I am aware that Georgia and Florida are considered deficiency states, i.e. they can come after me for rest of the debt. I randomly get calls from bank of property #2 and I tell them that I am waiting for the other mess to clear so I know exactly how much I owe as I will more than likely declare bankruptcy, i.e, Chapter 13 (as I do have a job and will not pass the means test).

I got a call today about property number #1 from a law office stating that I was going to get sued.

- My question is, should I try to settle with them or wait until I get sued and try to settle then? Is there a way to "gage" if this company will actually sue me?

- Should I wait to see if the sue me or try to settle, the loan has been sold 3 times and the original lender shows up as "account legally paid in full for less than the full balance", the other lenders do not show up in my credit report.

- When and how will I know how much money is deficient on property number 3?


Thanks for your help!

When the bank sells the property, if the bank has not yet sold it, they do not know.

Next have you checked the "means" test. Since you can have a job, it will depend on how much you make, conpared to what you owe. Most people filing all have jobs. ( those that don't have no reason to or not money to file)