I usually ignore all letter demanding collections but i'm not sure what this one means? I'm wondering if this one is meaning we will see a judgment soon? We aren't ready to file chapter 7 bankruptcy just yet We would like to see if we can get our mortgage payments and interest modified first.

The letter I got is from our mortgage company's attorney (HSBC is the mortgage company) which states that they have been retained to collect on this account. The letter goes on to say that unless we notify them within 30 days from the date of the letter that we dispute the debt then they will assume it's valid. They say if we notify the office within 30dys they will obtain verification of the debt and mail us a copy of such judgment or verification.

So is this a judgment or just a regular old collection letter with the warning of a judgment thrown in?

Thank you in advance for your advice

The letter is a notice of deficiency and if you do not respond then they can seek a declaratory judgement for your non-response. What state are you in? Do you need representation?