snappydoodles

which state is HSBC incoporated in ? use the NY borrowing statutes read PRA v. King. http://creditboards.com/forums/index.php?showtopic=477180 In NY, "Borrowing statutes" apply - to whatever SOL is in the state the bank is located Delaware is 3 years. and that is where Discover ( and many other lenders ) are located.... PRA v King winded it's way thru all the NY courts and was finally resolved last year. CPLR § 202 (i.e. New York's "borrowing statute"). Specifically, the Court held that defendant was entitled to choose the shorter of the statute of limitations available in a the original creditor's home state of Delaware, and the six year statute of limitations generally applicable to credit card cases under New York law. <a class="bbc_url" title="External link" href="http://law.justia.co...2010-03470.html/" rel="nofollow external">http://law.justia.co...2010-03470.html CPLR 202 provides, in relevant part, that "[a]n action based upon a cause of action accruing without the state cannot be commenced after the expiration of the time limited by the laws of either the state or the place without the state where the cause of action accrued." Therefore, "[w]hen a nonresident sues on a cause of action accruing outside New York, CPLR 202 requires the cause of action to be timely under the limitation periods of both New York and [*3]the jurisdiction where the cause of action accrued" (Triarc, 93 NY2d at 528). If the claimed injury is an economic one, the cause of action typically accrues "where the plaintiff resides and sustains the economic impact of the loss" (id. at 529). HSBC is incorporated in VA, Orchard is issued by HSBC and is governed by the laws of the State of Nevada as indicated in the agreement I have with them. Either way the SOL has expired in both of those States. I know about PRA v King which is the card I wanted to pull with them. I I have a letter drafted and will be sending it out on Friday. If they don't' remove it in 30 days I will send it to the credit bureaus stating they didn't send proper validation, it is out of SOL ….I am keeping my letter from HSBC stating which CA it was sold to as my trump card if they try to take me to court. I think they will look pretty silly when I pull out a letter from the OC stating the account was sold to someone else and all they have is a credit card statement. I am at the point where there is less than 3 years on this if it sits on my report so be it, I am not buying a house or car anytime soon, I have been approved for a lot of new credit, I got the few lates off my report. I just want to have a paper trail in case they attempt to take me to court. Thank you for taking the time to respond it is much appreciated.

UPDATE. I never got around to sending a FOAD letter because life took over. I received a letter from today with a copy of my last credit card statement with HSBC showing the amount due and that it had been transferred to a CA. It does not name The Bureaus Portfolio as the CA, it doesn't name anyone at all. (btw it was sent regular U.S. mail) I know this is not a proper form of validation. I am trying to make my next step the final step in this process, should I just send them a letter covering all bases saying: A-The validation is not valid B-This debt is not out of SOL per NYS law etc etc C-Please remove from my report as it took you 90 days to validate and your were not able to properly validate the date AND you are no longer allowed to collect on this debt as the SOL has expired. After sending something like the above letter, I want to send everything to all 3 CB;s and say they are not able to validate the date it is out of NYS SOL, therefore you are reporting incorrect information and if it is not off my report in 30 days I will pursue legal action. Please tell me if I am out of my bird on trying this route. Thanks!

A little torture... http://www.youtube.com/watch?v=kfVsfOSbJY0 Well now a crime has officially been committed, that was an assault on my ears.

Considering most people find their way to this board because of some sort of CC trouble, it kind of sucks that the OP is being lectured. Gia, lay low and see what happens. Most CC just want their money, try to find a way to start saving up funds in case they come knocking. I don't see that until at least a year down the road, so it gives you time to get yourself together. Hope it works out well, we have all learned lessons, the hard way.

Thanks for taking the time to respond. It is asset management I only had two phone calls one when the bureaus told me to call S&M and one call with S&M. Not within 30 days. i will send FOAD. I will try to keep it all in one thread going forward. Thanks again.

this is the same account that had a DOFD as July 2008 was listed as Bureaus Investment Group ? the DOFD on the original account should match what the JDB is reporting. if the JDB's reports a different DOFD or Fall off date, that's reaging ..... I wouldn't acknowledge the fact that it's been thru a couple of JDB's.or send it to the CRA's - it's actually in your favor. they tend to lose account records, and can't prove the chain of assignments what did their intial collection letter to you state? The Dec 2008 date in the letter is just referencing when they sold the account but the July 2008 is the DOFD and shows on my credit report via the OC, there is no DOFD from the CA,(the bureaus investment) they are reporting they got the account January 2009. Per this letter they did not it went to a different agency. Ok so I will keep this letter in my arsenal and not let them know that I have proof that they didn't' acquire it first. I never rec'd a dunning letter from them, I reached out to them when I saw it on my report, they said oh we outsourced it, called the outsourced place and said I am not sure if this is my debt but since it is so small why don't we do a PFD. They say we can't send you a letter acknowledging the terms, then they sent me a letter AFTER i contacted them with some stupid amount not listed on my report. I sent them a letter saying since they never validated the debt and I am not even sure it is mine, I will be willing to pay the amount on my credit report if they provide me IN WRITING a letter saying they agree to the PFD. I was very clear that it was NOT an acknowledgement of the debt. Anyway, I never heard back from them, so I DV'd the company on my report. They have not responded and they keep reporting interest charges. I sat quietly waiting for August to arrive because NYS has a law basically saying a creditor cannot benefit from NYS 7 year SOL IF the OC is in a State with a shorter SOL. This card was in Nevada which is 4 years SOL (if i am wrong someone please correct me) This law was held up by Portfolio V King, so I want to quote that in a letter to the CA if they don't respond in 30 days I want to send the letters to the credit bureaus saying if the CA has validated to me how did they validate to you? I never rec'd proof of validation from anyone. I am also going to cite NYS law. I need to be careful with my next step because I don't want to screw myself over.

Anyone?? Bueller?

I reached out to HSBC to see if I could settle with them since the CA I am dealing with are jerks. After two months I finally received a response, the letter states the account was sold in Dec 2008 to First Financial and they are the legal owner of the account. I have not called FF because I am pretty sure they sold the account to the JDB I am dealing with now, so not opening that can of worms. Here is my question, should I send a copy of the letter to the CA and say as per the OC you do not own this account, and you have not provided me my previously requested DV therefore remove the account from my reports OR should i send it to all 3 bureaus stating that JDB does not have the right to collect on this debt as per the attached letter from the OC please remove ASAP. OR is the letter not worth the paper it is printed and I should just file it away for now in case JDB tries to take me to court. Thanks!

Only 1 which was for my apple visa issued by Barclays. I was annoyed they did another hard pull but I am happy with the outcome and I will just B* that off in a few months.

They pull TU and FAKO is 698.

Just call the # on your card and they will connect you with the credit department.

Applied for apple visa 10 days ago approved with 2k limit. I was buying some books today and decided to apply for B&N card since it was Barclays as well. Initially denied called recon # and approved for 1,500. This is with a collection on my account. The UW asked me some questions and I explained to him the situation and he said your history has been perfect since then, I think we can do this. So always call recon, best tip I ever received from this board. My credit score is increasing because I am increasing my available credit by applying and not using the cards. If you have a collection on your report, don't despair people there are other ways to raise your score if you are dealing with a scummy CA like I am. I have raised my score by 50 points by paying down debt and applying for more credit and doing a little B* along the way.

Bumping to see if anyone has had any luck using NYS law 202.

I don't know if this has been said in the thread and I am too lazy to go back and check. I just called USAA to cancel and they offered me half price for a year to keep it so it will be $6.12 per month starting on my next billing statement. I just wanted to throw this out there so if anyone who has had it a few months wants a better deal.

I can confirm *C* occurred in NY on the 25th last month. I am hoping to squeak by this month and then I am DOOONE!