I bought a travel trailer that was financed by Conseco. After over three years of perfect payment history on this purchase I decided to sell this trailer, no late payments in the equation. A buyer respondended to my ad in the paper. He asked me if my note was assumable, I did not know so we called Conseco and they approved this man to assume my loan. The Conseco rep assured me that all was well and the trailer was turned over to the buyer.
I moved and almost five years later discovered that Green Tree was reporting my loan as charged off and in collection. Apparently the purchaser defaulted on that loan he assumed, I never recieved any release of liability to prove my position. Green Tree says that they bought out Conseco and there is no record of that loan being assumed and that I owe them for the balance of the note.
It is interesting that they decided to pick on me because the guy who ripped them off and by proxy, me also owns a storage unit compelx and reported the trailer abandoned with rent due in order to pull off his rip off. Green Tree chose to target me to pay for his rip off because of the bogus lien he most likely premeditatedly set up. He was a smart thief and I am stuck with his bad debt because Green Tree is weak and disigenuous.
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