Hermione Granger

I got a $9K creditline from HSBC about 16 months ago and went into default due to econonmic hardship. When I tried to work out a payment plan with them beginning Sept they weren't helpful and by October they had referred me to Glasser and Glasser law firm - HSBC had threatened me with a law suit. The law firm's letter to me indicates that my acct has been referred to them by Household Finance Corp II (my account is with HSBC!!) with the amount close to $11K - I guess accrued interest. They do indicate "this communication is from a debt collector". They also refer to themselves as the debt collector. Here is my question: I was able to borrow $3K. If I want to make a settlement offer, should I also sent a copy of the letter to HSBC? Do you think an offer of 3-4K would be accepted? I am trully lost and have spent close to 10 hours on this forum looking for information. Unfortunately, I can't say I'm any smarter than when I started. I found navigation around the forum a little difficult (sorry!!). I appreciate any help I can get. PS-I am in good standing with all my other creditors.

I need urgent help please!!! With regards to HSBC, I could offer $1000 down and 200/per month. Alternatively, I could also settle for 4-5 grand. Please give advice as to which would be more feasible and/or acceptable by HSBC. What are the options of settlement with them? Thank you for your time and advice.

I need urgent help please!!! With regards to HSBC, I could offer $1000 down and 200/per month. Alternatively, I could also settle for 4-5 grand. Please give advice as to which would be more feasible and/or acceptable by HSBC. What are the options of settlement with them? Thank you for your time and advice.

Hi, After a little cat and mouse play, I was referred to their law firm WHILE I was still trying to negotiate a repayment plan. It seems that they were not interested in any plan but wanted a settlement amount a couple of hundred dollars less than the actual initial loan amount! They gave me a dealine to come up with the lump sum. It didn't help that I kept telling the person that it is impossible for me to come up with the money. They told me that their law firm was going to take me to court and get a court judgment against me. They are very articulate in scaring you!! It's noteworthy to say that I am in good standing with all my other creditors including my mortgage co., it's only this menace that isn't willing to work with the situation and my willingness to negotiate!! Anyway, I am planning to write a letter with a repayment plan. Is that a good idea? And are there any templates that I could use? Thank you for your time and advice.

Unfortunately this is an home equity line of credit. Does that make a difference? and to what extent? Very panicky!!!

Hi, I got a 10K creditline with HFC over a year ago. I lost my job and haven't been able to make any payments since April. When I called them last time to come up with a payment plan the woman kept calling my name every other word and wouldn't want to let me off the phone without making a large payment. Upon telling her that I had no means of giving her the large payment she was asking she then told me I would qualify for their hardship program but that she would need a few hundred dollars to bring it before the committee. When I refused again (which i said I'd have to call her back - not a blatant refusal) she didn't want to let me off the phone. To add insult to the injury, I could hear her supervisor asking her to put me on hold (I guess she was a trainee) which made me even more furious as I had been put on long holds twice already with her. She kept on playing the cat and mouse game with me until she left me no option but to hang up on her. They stopped calling me after that. And I just received a letter from them threatening me with a legal action. Any advice how to repel these people? What courses of action do I have available? I felt very uncomfortable while trying to negotiate with them. Eventhough I was hoping to come up with a plan they came across as rather predatory.