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Found 19 results

  1. I remembered reading here not too long ago that there was some confusion between HSBC and Cap1 as to which bank owned the old, closed charged off CCs that were closed prior to the Cap1 purchase of HSBC CCs. If I could find the thread, I would post it. I had an HSBC charged of CC that was closed prior to the purchase that was set to fall off in 10/2015, and I decided to take a chance and dispute it as obsolete with TU, along with a couple other accounts I am disputing. This account was reporting only on EX and TU, and all prior attempts to dispute it off had failed. To my surprise, it was deleted from EX a few days later! I didn't even dispute it with EX. Yesterday, it was also deleted from TU. This leads me to believe that TU did actually submit a dispute to verify with HSBC, and that HSBC submitted a request to all CRAs to have it removed. My guess is that it has to do with the ownership issue. If you have one of these old HSBC charged off CCs reporting, it might be a good time to try and dispute it, even if you have already tried in the past. Good luck!
  2. I have been trying to deal with two old HSBC accounts that were charged off. Long story short, I had 2 HSBC cards charged off before Cap1 bought their US credit card business. They went to Cap1 and I battled them for removal by disputes, EO action, and a CFBP complaint. Nothing came of any of those attempts. They have now been assigned back to HSBC from what i can tell because they now list the po box 9 address in Buffalo instead of the Cap1 Carol Springs, IL address. I have done recent CRA disputes about these accounts and here's how they are reporting (and came back as verified): Experian is reporting these as positive trade lines that will will remain until 2021 with the notation "sold to another lender" and a "closed" date in mid 2011. No payment history is reporting at all. No balance due. No charge off notation. Shows up on the backdoor online dispute in the positive accounts section. Transunion and Equifax are reporting these accounts as charge off accounts with "closed" dates of late 2010. Payment history shows lates leading up to CO. Purchased by another lender noted. Which of the following methods would you use? Or do you have a different idea? 1. I have a 623 letter typed up with all of the issues mention above plus a few more. The two outcomes I think may come of this are either: (a) it will be removed because of the incorrect reporting or lack of records to review it since it went to Cap1 and then came back (b.) they will change the experian reporting to show the CO making it a negative account again 2. File a CFPB dispute for the trade lines reporting completely differently after disputes. I have copies of the disputes showing the completely different reporting. My goal is complete deletion of these trade lines.
  3. I filed a CFPB complaint about 3 weeks ago regarding Cap One's right to report and update a CO and 3rd party sold, HSBC account. Here are the details: http://creditboards.com/forums/index.php?showtopic=521029 Here's the email reply I just received yesterday: The company has provided a partial response to your complaint number ********* describing the steps taken so far to address your issue. They stated they are still working on your issue, and you should hear from them again within 60 days. We will let you know as soon as we receive an update about your complaint. Thank you, Consumer Financial Protection Bureau consumerfinance.gov (855) 411-CFPB (2372) Thing is there is no response posted in the complaint, except for the email above. Questions: Is it worth complaining about allowing the an extra 60 days? Or When you file a complaint/dispute through CFPB, does that require them to update the TL as "in dispute" or does that only apply when it goes through the CRA or directly with the furnisher? If so, and they don't, is that a violation? Should I just not say anything about the 60 days and them not reporting it as "in dispute" to rack up violations? They are not reporting it as disputed. As you can see I'm going after this every way I can think of.
  4. Had a collection with Midland pop up for an old Orchard Bank card. Account was outside SOL, sent FOAD letter. Below is the response I received: ___________________________________________________________________________________________________________________________ Dear David, The purpose of this letter is to advise you that you did not provide sufficient information to investigate your dispute of the credit reporting of your above-referenced account pursuant to the Fair Credit Reporting Act. We understand you are disputing the accuracy of our records concerning the above referenced account. After reviewing the information you provided, as well our own account notes, and information provided by the previous creditor, we are unable to determine the nature of your dispute, and consequently deny that our records are incorrect. In order to further investigate your dispute, we need additional information to help verify the basis of your dispute. Including a complete explanation of your dispute would be helpful. Further, copies of any documentation you may have to support your dispute. In the interim, we have requested that the three major credit bureaus change the status of this account to “Disputed”. Examples of documentation we need or which would be helpful include the following: Paid in Full or Account Settled: a) a copy of the front and back of payment instrument with copy of settlement offer or statement showing balance and account number; a copy of the paid in full or settlement letter showing account number. Fraud or Identity Theft: a) a copy of a police report; Federal Trade Commission Fraud Affadavit that has been filled out (which can be obtained at www.ftc.gov/idtheft); or c) notarized fraud affidavit. Balance Discrepancy: a) copy of contract that states rates for time frame of disputed service; a copy of bills or statements that show amount owed or rates; c) a more detailed explanation of disputed charges. In the meantime, as requested by you, we will no longer be contacting you regarding this account by phone or mail unless it is to further respond to a dispute by you under the Fair Credit Reporting Act. The account may still be reported on your credit report as unpaid. _____________________________________________________________________________________________________________________ So at this point, not sure what to do next. In the past, if one of these pesky ghosts popped up, a good slap always sent them scurrying back into the gutter. This time, Midland did as they said, and updated the listing with the three CRAs. Any suggestions? Thanks, Dave
  5. I was preparing to send a FOAD letter to Midland regarding an old HSBC account. The DOFD was May 2009. What worries me is I currently reside in Maine, where SOL is 6 years. HSBC account was Nevada (4 Years). HSBC accounts were acquired by CapOne in Virginia (3 years). I was living in Pennsylvania when the account was opened (4 years). Surely moving to a state with a longer SOL, after the SOL had already passed, does not suddenly reopen the window for litigation? How do I know what applies?
  6. Hi. I got a letter from a company called Cach, LL. They say I owe them $4000+ dollars. The original creditor was HSBC Bank in Nevada. I wrote to Cach, LLC about the debt and they said they weren't a collection agency but some sort of middleman that gave the accounts to lawyers across the country so they could sue people. The way they appear to work is that they buy junk debt from years ago and sue. The people they sue get scared and don't answer the summons or show up in court, so Cach, LLC wins by default and start garnishing their wages, etc. I DO NOT want to talk to these bottom feeders, who I consider scum sucking the last life out of people suffering in this economy, suffering caused by people like them. So I called HSBC Bank in Nevada. They said that they couldn't tell me anything about the debt, that capital One bought up a bunch of HSBC's old files and, I'm guessing, sold them to these 'how do they sleep at night' law firms. This is just a shot in the dark, but is there any part of the laws in the FDCPA or any law that says they can't tell me ANYTHING about a debt they sold to Cach? I have called about a card that was charged off before from Capital One and they said I couldn't PAY them, as they had sold the debt to a collection agency, but they did tell me the account numbers and amounts and what sort of loan it was. I'd like to be able to call them back and demand they tell me the dates and amounts and account numbers, etc. but I'd need chapter and verse from the FDCPA. I know some of you have practically memorized the thing and I'm asking for a little help on which sections to cite to HSBC about this debt. The only record that I have on this debt is one showing up on my TransUnion credit report saying 'Paid as agreed'. I know that the SOL has passed on this, but I don't want to wait around for Cach, LLC to sue me, or have the summons 'lost' and find out when they empty my bank account. In fact, I'd like to sue them, if that was even possible, and HSBC too if I could. I'm just SO INCREDIBLY MAD that people are collecting gossip and selling it back and forth to each other and it being somehow OK in this country. Sorry for the rant but- chapter and verse anyone? Please. AND thank you.
  7. Hello Everybody, whats the best course of action to remove old CO's from the OC's? I have 2 from GECRB, Brandsmart and Chevron, both are zerod out and sold to collections: Midland, but Midland has removed their CA's, so now is only the OC, scheduled to be removed 09/15 an 05/16, should i send them a DV letter, Goodwill letter or ? and I also have 2 from HSBC and 1 from Credt One, scheduled to remove 01/15, 07/15 and 07/15, i send HSBC a letter but they just keep saying they have no info and contact CA?
  8. Well GOOD NEWS! MSCB delete med collection 2204! But getting nowhere with 2 charge offs from before my bankruptcy still showing bad debt on eq and tu. Ex shows IIB? Called and got through at Cap 1 and got some nonsense about their system is down. Already disputed once, this is round 2 any advice???
  9. Hi all, Some of you may have read my other post about this: http://creditboards.com/forums/index.php?showtopic=522542&hl= http://creditboards.com/forums/index.php?showtopic=521029 I will post my complaint sent to the CFPB and then the first response I just received today from Cap 1. Let me know your thoughs. I have several but I want to hear what you have to say.
  10. I am looking for some advice on one last derogatory mark on my credit report. I'm looking to buy a house this year and have worked to clean up my credit report. The last derogatory item on my report is $257 from an HSBC account in collections from July 2008. I am wondering if I should request PFD or just not worry about the amount and let it drop off next year. It should not interfere with securing the mortgage (I hope!!) My myFico score is 707 but, if I can just pay it off and have it removed from my report, I'd rather do that. I am not sure which strategy would be best for my score. Any advice would be appreciated!!
  11. Capital 1 may be a debt collector in my situation.... Please take a look and tell me what you think. Sorry, I know this is long. Background: There are 2 HSBC CC accounts that are reporting as COs on my report as HSBC with the Cap 1 Carol Springs address. I'm almost 100% positive that they were actually with other companies before HSBC as well. Both cards were (per credit report(s)): Issued mid to late 2006 Closed in mid 2009 CO in late 2010 Both are reporting a zero balance Cap 1 officially acquired HSBC CC on May 1, 2012 (as far as I can tell from the reports on the interweb) Since my accounts were sold to Cap 1 after being CO by HSBC, means that Cap 1 bought a CO debt and therefore are attempting to collect a debt. The act of reporting the tradeline on my credit reports shows an attempt to collect a debt, just as a JDB would use reporting to help collect a debt. Case law to back up this argument: Kimber v. Federal Financial Corp. http://www.leagle.com/decision/19872148668FSupp1480_11940 Cap 1, or maybe HSCB, sold the debt to another party per my credit report. Since Cap 1 is a debt collector in this situation, and they have since sold the debt to another debt collecting party, they shouldn't be allowed to continue to report these accounts because (1) they are not the OC and (2) they no longer own the debt because they sold it to another party. If a debt collector or JDB sells a debt, I don't believe they can continue to report it. Therefore, I believe they are in violation of the FCRA. If Cap 1 is a debt collector in my case, they would have been required under FDCPA 15 USC 1692g(a)3 to send: a statement that unless the consumer, within thirty days after receipt of the notice, disputes the validity of the debt, or any portion thereof, the debt will be assumed to be valid by the debt collector. Since they never sent me this notice after acquiring the debt they are in violation of the FDCPA. I could keep going with what I believe are violations, but I'll spare you. The key here from what I have read is that a debt sold to or acquired by another company after that debt is delinquent and charged off, that legally defines that company as debt collector for that debt, in my opinion and from what I have read. I also never applied to Cap 1 for either of these accounts, therefore they have no ability to claim they are the OC. Thoughts?
  12. I have a charge off from HSBC that was listed on my report on 12/1/2004. IT has apparently been in collection for about 8 years, without ever being paid. In light of trying to get a mortgage, I have been trying to get this paid for the past 18 months!!!! I keep getting the run around from HSBC and Capital one and they can never find the account listed anywhere. Back in February, I did finally get someone to find it, made the full payment for the account in the amount of 580.00 and sent it to the address specified. Here I am 7 months later, they have never cashed the check, and they can not find the account. I am diligent in calling every month trying to figure out how to get this resolved and removed (or marked as paid) so that I can get this mortgage! Can someone please give me some advice as to what I can possibly do here. I am at my wits end!!! Oh, and they also marked my account as FP on all three bureaus in February, for the first time since 2005 as well. It dropped my score 60 points! Help!!
  13. Looking for input on this account. HSBC Bank account (formerly an old Orchard card) is reporting on EX & TU as closed/charge off. Account opening date on EX & TU is May 2006. I disputed the HSBC entry as obsolete (my records indicate DOFD was September 2006, so should drop off September 2013). I disputed both EX & TU as obsolete in hopes this would fall off early. Transunion dispute results are back and they updated as follows: Account Sale Info: ACCOUNT SOLD TO PORTFOLIO RECOVRY Remarks: ACCT INFO DISPUTED BY CONSUMR; PURCHASED BY ANOTHER LENDER; TRANSFERRED TO ANOTHER OFFICE Estimated month and year that this item will be removed: 07/2014 I'm still awaiting EX's response to my dispute as obsolete. My question is, assuming EX responds in the same way, what should my next step be? Thanks in advance for suggestions.H Side note: Portfolio Recovery was reporting on all 3 for this account, but after dispute (they were reporting payments) it is off EX & TU and I expect it off of EQ any day now per their response.
  14. Ok, I'll lay out my situation before I ask any questions... Repo 7/2/2008 SOL for OK is 5 years (so it expires in about 12 days!) Got a letter dated 7/7/2008 (within 5 days of repo) stating the sale would take place on or after 7/22/2008(more than 20 days after repo). That same letter also states the following: DH and I will owe the difference if they don't sell it for the full amount; We can get the vehicle back before sale date by paying the full amount we owe (not just the past due payments); We can get an explanation in writing of how they figured the amount owed by calling or writing only. This letter was sent to my mother's address (how they got that address I'll never know since all statements were coming to my home address for 4+ years). Side note-so now that address is attached to our reports. (removed from Equifax, Experian refused, pending TransUnion removal any day now) We never received anything else from HSBC regarding the sale... Both mine and DH reports both show a repo from HSBC Auto finance stating the account was transferred or sold to someone else-no balance information though. No collection agency has ever listed or contacted us about this. Credit Report: Equifax: $0 bal, balance date 9/2009, high limit $13,953 Comments 11/2007 I8, 4/2007 I2, Charged off account transferred or sold TransUnion: $0 bal, bal date 7/2008, high limit $18,306 Comments purchased by another lender Experian: nothing in the balance section, balance date 10/2008, High limit $18,306 Comments purchased by another lender, 9/2008 I, 8/2008 I, charge off account transferred to another office, last paid 1020/08 We originally financed this 8/2005 for $18,306. Why Chat, what are my options? Of course, Equifax is reporting the wrong high balance, and dates are wrong all over the place. I don't know how much we even owe (if any) since we never got anything else regarding the sale (at my mother's house or mine). I have started the Why Chat repo letters but haven't sent anything yet. I did get a copy of the CarFax report and it states repo was 8/7/2008 (it was actually 7/2008) and sold at auction on 8/25/2008. What to do what to do... It's all about the process... May 2013 Equifax 489 TransUnion 503 Experian 463 FICO 537 June 2013 Equifax 542 TransUnion 530 Experian 576 FICO 544
  15. I disputed a charged-off account with Equifax. They sent me a verified letter. However, the original creditor (they are reporting themselves) did not instruct the cra to add the consumer dispute notation. I backdoored to make sure and it just states in the comment section, charged off account. I thought they had to add that after I dispute. If true, what is my next step?
  16. I know Capital One has taken over the credit for HSBC & Orchard bank but I'm a bit confused right now. I have some OLD accounts from HSBC & Orchard that charged off at one time. One of them was sold to Sherman Today I received a letter from Capital One regarding an important notice in change of terms along with a Platinum MasterCard® Guide to benefits. Anyone know why I would get this for a closed account?
  17. I am about to send out a couple goodwill letters this week to HSBC for 2 accounts that were charged off/sold in 2009 to ask them to delete. Everything I have read leads me to believe they do not do this. Just wondering if anybody has had any success with getting HSBC accounts deleted and how they accomplished this feet? Also does anybody have an email address that I could send the letter to?
  18. I have been searching for hours through CreditBoards and google with no real answer regarding removing charge offs on my CR. I have two HSBC charge offs on my account that were charged off in 2009. Before discovering this board and (trying) educating myself I started trying to repair my credit and paid them off through the collection agencies. I am now trying to find out if there is a way to get these two TL's deleted from my report. I have been searching leading to more questions regarding this issue. Should I try GW, DV, 623 Dispute? Since I paid these through a CA would any of this be relevant? I was thinking of DV'ing both accounts and hopeing they don't respond, or 623 disputing stating last reported payment is wrong. My question is basically what route should I pursue, and since they are already paid can I DV the OC? Also it seems I have found varied outcomes with the HSBC accounts since they were purchased by Cap One, has one course of action been more sucseful than others? Sorry it it seams like I am rambling on, just feel overwhelmed and it seams like the more I learn the more questions I have. Made some mistakes in the past, now trying to correct things. Thank You, -Brandon
  19. Yes, this past statement, there is the starting of the transition.. links to FAQ pages and whatnot.. and my payments done through my Orchard account are showing up on bank statement as Capital one not Orchard / HSBC. I have always loved my Orchard card.. no A/F ..... no Foreign Transaction fee....and 2% cash back. The limit has never been huge ($4200 at present and I've had the card forever).. but it's always been one of my better rewards cards. I am not looking forward to the transition to Crap 1 ..................... I have gotten ridden of all of their cards (except for this Orchard card) .................... and paid off my car loan early and swore I would never deal with them (personal reasons).. it ticks me off to be stuck with another of their products. Yes I want to close it................. especially if they don't put me into one of their better products.

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