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Advice: Possible Violation

creditkingpin

By creditkingpin,
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The last post in this topic was posted 3978 days ago. 

 

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creditkingpin

creditkingpin

Posted
Posted

PLEASE HELP! :sorry:

 

Brief summation: I had an account that I have not paid, was charged off and sold by HSBC to Cavalry. It was purchased by Capital One before it was sold I assume.

I have been disputing this account since May for various reasons mainly because the reporting was sloppy and I thought I could get it removed. For every credit bureau dispute Capital One has updated the account but has never deleted. Recently, I filed a second dispute with the CFPB against Capital One because after the last update, the comments posted by Capital One stated "payment after charge off" but the status of the account does not say "paid charge-off".

I received a response letter from Capital One executive Erika Rodriguez stating that my last payment was of $40 and made on August 29th, 2011. Well, I looked at the statements I had them send me from the first CFPB dispute and found that the payment was returned and was not applied to the account, yet they verified this multiple times to the credit bureaus, which means my date of first delinquency would be a month earlier then it list on my report. I also have my bank statement confirming the payment was returned.

Because Calvary deleted their trade-in I also asked for bill of sale proving they own the account. Ms. Rodriguez's response was that they purchased it and she took the liberty of confirming with Calvary that they own the account.

My question, is this a legitimate violation that I could leverage for deletion and is Calvary allowed to discuss my account status? Being that they purchased the account they are not the original creditor maybe this would give more leverage, how should I proceed?

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Sandscrit

Sandscrit

Posted
Posted

HSBC owned the account first and then Cap 1 took over HSBC's accounts. Cap1 sold the uncolllectable account to Calvary. if this account is still with in the state SOL, it would be best to leave it alone until the state SOL expires,unless it is a small amount. Calvary is the only account that should be showing a balance. The rest should show a zero balance. If Cap 1 is showing a balance then it would need a FACTA dispute. There are no FDCPA violations because the debt is from the OC.

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creditkingpin

creditkingpin

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Posted (edited)

HSBC owned the account first and then Cap 1 took over HSBC's accounts. Cap1 sold the uncolllectable account to Calvary. if this account is still with in the state SOL, it would be best to leave it alone until the state SOL expires,unless it is a small amount. Calvary is the only account that should be showing a balance. The rest should show a zero balance. If Cap 1 is showing a balance then it would need a FACTA dispute. There are no FDCPA violations because the debt is from the OC.

 

Capital One is not the original creditor, HSBC is, also the account is within SOL but is not owned by Capital One, therefore there is nothing they can legally do to me and because there is nothing they can do I fully intend on bugging the shhh out of them. Calvary deleted their trade line already and sent a letter stating they cease collection activity.

 

My dispute is not about a balance. It's about the date of first delquiency and them verifing incorrect information. I think I detailed it above.

Edited by creditkingpin
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creditkingpin

creditkingpin

Posted
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Posted (edited)

Your situation is similar to mine and here is the approach I am taking. I'm about to do my first CFPB tonight or tomorrow and I will post updates at the link below if you want to track it. I wasn't able to accomplish much with my EO complaint.

 

http://creditboards.com/forums/index.php?showtopic=520530&hl=

Hmmmmm, you know what if they acquired HSBC Cards in May of 2012 would they even have authority to update or verify any accounts that were sold prior to that date being that they never owned the debt at any point of time? Edited by creditkingpin
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mindcrime

mindcrime

Posted
Posted

 

Your situation is similar to mine and here is the approach I am taking. I'm about to do my first CFPB tonight or tomorrow and I will post updates at the link below if you want to track it. I wasn't able to accomplish much with my EO complaint.

 

http://creditboards.com/forums/index.php?showtopic=520530&hl=

Hmmmmm, you know what if they acquired HSBC Cards in May of 2012 would they even have authority to update or verify any accounts that were sold prior to that date being that they never owned the debt at any point of time?

 

 

Good question. You're saying the account was sold to a JDB at some point before May 2012, and subsequent to May 2012, C1 bought the account from HSBC and therefore no longer retain reporting rights as both C1 and the JDB are third-party?

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creditkingpin

creditkingpin

Posted
  • Author
Posted (edited)

 

 

Your situation is similar to mine and here is the approach I am taking. I'm about to do my first CFPB tonight or tomorrow and I will post updates at the link below if you want to track it. I wasn't able to accomplish much with my EO complaint.

 

http://creditboards.com/forums/index.php?showtopic=520530&hl=

Hmmmmm, you know what if they acquired HSBC Cards in May of 2012 would they even have authority to update or verify any accounts that were sold prior to that date being that they never owned the debt at any point of time?

 

 

Good question. You're saying the account was sold to a JDB at some point before May 2012, and subsequent to May 2012, C1 bought the account from HSBC and therefore no longer retain reporting rights as both C1 and the JDB are third-party?

 

Exactly! but......I'm no lawyer so it could be a mute point. Maybe since they purchased the business it doesn't apply..

Edited by creditkingpin
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funkiehouse

funkiehouse

Posted
Posted (edited)

 

 

 

Your situation is similar to mine and here is the approach I am taking. I'm about to do my first CFPB tonight or tomorrow and I will post updates at the link below if you want to track it. I wasn't able to accomplish much with my EO complaint.

 

http://creditboards.com/forums/index.php?showtopic=520530&hl=

Hmmmmm, you know what if they acquired HSBC Cards in May of 2012 would they even have authority to update or verify any accounts that were sold prior to that date being that they never owned the debt at any point of time?

 

 

Good question. You're saying the account was sold to a JDB at some point before May 2012, and subsequent to May 2012, C1 bought the account from HSBC and therefore no longer retain reporting rights as both C1 and the JDB are third-party?

 

Exactly! but......I'm no lawyer so it could be a mute point. Maybe since they purchased the business it doesn't apply..

 

Thanks kinda of my point too. How can you acquire something that has already been sold to someone else? Makes it look like Cap One is trying to collect/report on a debt they never owned. Cap one didn't buy it back from the JDB and then charge it off again, or did they? JK… or am I.. no really JK... :rofl:

Edited by funkiehouse
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creditkingpin

creditkingpin

Posted
  • Author
Posted (edited)

 

 

 

 

Your situation is similar to mine and here is the approach I am taking. I'm about to do my first CFPB tonight or tomorrow and I will post updates at the link below if you want to track it. I wasn't able to accomplish much with my EO complaint.

 

http://creditboards.com/forums/index.php?showtopic=520530&hl=

Hmmmmm, you know what if they acquired HSBC Cards in May of 2012 would they even have authority to update or verify any accounts that were sold prior to that date being that they never owned the debt at any point of time?

 

 

Good question. You're saying the account was sold to a JDB at some point before May 2012, and subsequent to May 2012, C1 bought the account from HSBC and therefore no longer retain reporting rights as both C1 and the JDB are third-party?

 

Exactly! but......I'm no lawyer so it could be a mute point. Maybe since they purchased the business it doesn't apply..

 

Thanks kinda of my point too. How can you acquire something that has already been sold to someone else? Makes it look like Cap One is trying to collect/report on a debt they never owned. Cap one didn't buy it back from the JDB and then charge it off again, or did they? JK… or am I.. no really JK... :rofl:

 

 

Also reading the opinion you posted in the other thread give more prospective, they are indeed a debt collector based on that opinion, because if they are reporting those charged off accounts, they are doing so for the period of time in which is was in the possession of HSBC, therefore they are preforming debt collection activities for an entity other than themselves, thus they are a debt collector. Some people are looking at it as if they extend credit to customers, they are a creditors, but that's not what the definitions read. They never extended credit on the charged off accounts preceding acquirement because they never owned them. The question though is did they buy the accounts or did they buy part of HSBC Bank, if the later then I would consider them creditors. Are their any similar situations of a company buying a large amount of card accounts like this that can serve as reference?

Edited by creditkingpin
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funkiehouse

funkiehouse

Posted
Posted

 

 

 

 

 

Your situation is similar to mine and here is the approach I am taking. I'm about to do my first CFPB tonight or tomorrow and I will post updates at the link below if you want to track it. I wasn't able to accomplish much with my EO complaint.

 

http://creditboards.com/forums/index.php?showtopic=520530&hl=

Hmmmmm, you know what if they acquired HSBC Cards in May of 2012 would they even have authority to update or verify any accounts that were sold prior to that date being that they never owned the debt at any point of time?

 

 

Good question. You're saying the account was sold to a JDB at some point before May 2012, and subsequent to May 2012, C1 bought the account from HSBC and therefore no longer retain reporting rights as both C1 and the JDB are third-party?

 

Exactly! but......I'm no lawyer so it could be a mute point. Maybe since they purchased the business it doesn't apply..

 

Thanks kinda of my point too. How can you acquire something that has already been sold to someone else? Makes it look like Cap One is trying to collect/report on a debt they never owned. Cap one didn't buy it back from the JDB and then charge it off again, or did they? JK… or am I.. no really JK... :rofl:

 

 

Also reading the opinion you posted in the other thread give more prospective, they are indeed a debt collector based on that opinion, because if they are reporting those charged off accounts, they are doing so for the period of time in which is was in the possession of HSBC, therefore they are preforming debt collection activities for an entity other than themselves, thus they are a debt collector. Some people are looking at it as if they extend credit to customers, they are a creditors, but that's not what the definitions read. They never extended credit on the charged off accounts preceding acquirement because they never owned them. The question though is did they buy the accounts or did they buy part of HSBC Bank, if the later then I would consider them creditors. Are their any similar situations of a company buying a large amount of card accounts like this that can serve as reference?

 

Sorry, I'm bouncing between the two threads as well. I believe they only bought HSBC's U.S. credit card business because HSBC wanted the hell out because of the mess it is. They still operate in Europe and India as an actual bank from what I understand. Off I got to try and find some info on that. I believe that ICANHASMUNY may know the answer to this.

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creditkingpin

creditkingpin

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Posted

You're welcome! :yu: Actually, I didn't get that far past the cover page. Great thing about email is that it's free, well except for the monthly interweb service fee. :yahoo:

I'm an A hole I will just CC everyone on the list but I'll end up mailing it as well. If I worked for Capital One I'd be very afraid of someone getting my email lmao

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funkiehouse

funkiehouse

Posted
Posted

 

You're welcome! :yu: Actually, I didn't get that far past the cover page. Great thing about email is that it's free, well except for the monthly interweb service fee. :yahoo:

I'm an A hole I will just CC everyone on the list but I'll end up mailing it as well. If I worked for Capital One I'd be very afraid of someone getting my email lmao

 

HA!! Hey whatever may work I say go for it. I will bother them until they are sick of me and give me what I'm looking for.

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  • 2 weeks later...
funkiehouse

funkiehouse

Posted
Posted

Haven't written my letter yet but I did receive another validation letter today on HSBC's letterhead which is strange to me....

 

Interesting. Everything I get is on Carp One letterhead.

 

I feel like this may be unchartered territory because I haven't found anything that covers this type of issue. I imagine with all of the bank mergers and buyouts that this type of issue has been covered but again, I can't find anything. I'm sure there's a way around it for them but the argument sounded good to me so it can't hurt to try. Someone figured out the first DV letter and the first GW method so maybe this will be a new method. I'm hoping they will fold because they are not use to being subject to the FDCPA, if in fact they are.

 

I sent off my CFPB about 9 days ago and it's still under initial review. I'm really curious as to why my dispute is still in the initial review and has not yet been sent to Cap One. I thought they moved faster than this. Maybe I'm just impatient. :beee:

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  • 5 months later...
creditkingpin

creditkingpin

Posted
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Posted (edited)

After a long fought battle this negative has been vanquished!

 

Long story short they kept changing the reports after ever dispute. Finally they had a duplicate where they had Capital One and HSBC reporting as OC. After a CFPB dispute I receive a letter from HSBC stating that Capital One was previously servicing the debt and they ordered them to remove the account. Keep being a thorn in their side they will make a mistake and be forced to remove!

Edited by creditkingpin
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  • 2 months later...
mizliz1011

mizliz1011

Posted
Posted

BTW, I used to have a diners club account that was written off, then the portfolio was sold... both the CA/JDB and the OC debt disappeared...I am sure that the JDB could not get info and the buyer of the portfolio chose not to pursue it.

 

Wish my -0- OC Cap One albatross was HSBC but it was the real crap one. Paid the JDB (portfolio) and it hangs over me like a bad smell.

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