Internet's first get-out-of-debt community - 134,000 members

Posted: Wed Nov 28, 2007 1:08 pm Subject: Should I settle??

I got a credit card with HSBC back in 2006, the limit was 300 big ones Laughing

, well anyway that acct has been charged off and was sent to First Financial Bank and then they sent it back to HSBC who in turn sent it to Avante who said that my balance is now 728.69 but they will take a settlement of 550.00, but I have to make a payment on 11/30.

What should I do??

Posted: Wed Nov 28, 2007 1:47 pm Subject:

Have you had them validate the debt?

Posted: Wed Nov 28, 2007 2:35 pm Subject:

you mean with a letter, no

should i do that, i didnt even think of that, they said that they have not reported me to the cb yet because they just got the acct on oct 07, so i will fax them something, thanks volley Smile

Posted: Wed Nov 28, 2007 2:35 pm Subject:

Don't do anything until you follow volley's advice. Have them validate this debt to make sure that they have all the necessary information on this debt before you pay them a dime.

ladybug

Posted: Wed Nov 28, 2007 3:57 pm Subject:

thank you guys, i just called to get the fax number and she asked me like a thousand questions, like what is the letter stating blah blah, im like look lady just give me the damn fax number, you will see it when i send it....

should i use one of the ones in the dyi section?? i was thinking of using debt validation, but since i already spoke with someone should i use another one?

Posted: Wed Nov 28, 2007 4:10 pm Subject:

You can or try this one...you really NEED to also send it certified mail along with the fax.

YOUR NAME AND ADDRESS

ADDRESS TO THE CA

DATE

Re: ACCT# <ENTER>

To whom it may concern:

This letter is being sent to you in response to a notice sent to me dated <DATE> Please be advised that this is not a refusal to pay, but a notice sent pursuant to the Fair Debt Collection Practices Act, 15 USC 1692g Sec. 809 (b) that your claim is disputed and validation is requested.

This is not a request for "verification" or proof of my mailing address, but a request for Validation of Debt made pursuant to the above Title and Section. I respectfully request that your offices provide me with competent evidence that I have any legal obligation to pay you.

Please provide me with the following:

1. What the money you say I owe is for
2. Explain and show me how you calculated what you say I owe
3. Provide me with copies of any papers that show I agreed to pay what you say I owe
4. Provide a verification or copy of any judgment if applicable
5. Identify the original creditor
6. Prove the Statute of Limitations has not expired on this account
7. Show me that you are licensed to collect in my state
8. Provide me with your license numbers and Registered Agent

At this time I will also inform you that if your offices have reported invalidated information to any of the 3 major credit Bureaus (Equifax, Experion or TransUnion) this action might constitute fraud under both federal and State Laws. Due to this fact, if any negative mark is found on any of my credit reports by your company or the company that you represent, I will not hesitate in bringing legal action against you for the following:

1. Violation of the Fair Credit Reporting Act-reporting inaccurate information
2. Violation of the Fair Debt Collection Practices Act-continuing collection activity on a debt which has not been validated

Also during this validation period, if any action is taken which could be considered detrimental to any of my credit reports, I will consult with my legal counsel for suit. This includes listing of any information to credit reporting repository that could be inaccurate or invalidated or verifying an account as accurate when in fact there is no provided proof that it is.

REQUEST FOR CEASE AND DESIST OF CONTACT BY YOUR OFFICE: I would also like to request, in writing, no further contact, either in writing or telephone be made by your office to my home or to my place of employment, unless it is to provide validation or release of liability of the debt.

Thank you,

<YOUR>

Posted: Wed Nov 28, 2007 4:48 pm Subject:

volley is right- it's been passed around so many times- you want to make sure they have the debt, it's correct etc.

A few years back, I had a CA trying to settle a debt, problem was, it had been passed around so many times, they couldn't give me any info on it-this was before I came here- and I just wrote them a cease and desist letter, after I found out it was on a bill that was paid years before- so you have to make sure!

Good Luck..karen

Posted: Thu Nov 29, 2007 7:17 am Subject:

thanks! i will send that tomorrow via certified mail and fax!

Posted: Thu Nov 29, 2007 7:18 am Subject:

also once a debt has been charged off it cannot be removed right? and can you request that the debt be sent back to the original debtor after it has been charged off?

Posted: Thu Nov 29, 2007 8:09 am Subject: Should I settle??

So how did it go?

Curious Wink

Posted: Thu Nov 29, 2007 9:08 am Subject:

idk, i am sending the letter tomorrow

sending mail certified is expensive! Smile

Posted: Thu Nov 29, 2007 11:06 am Subject:

I know...but its worth it!

Posted: Mon Dec 03, 2007 7:04 am Subject:

i sent a letter of verification to providian and they couldnt validate it, so guess what????

THEY ARE REMOVING IT FROM MY CREDIT REPORT Smile

Posted: Mon Dec 03, 2007 8:12 am Subject:

Thanks Volley...I was just on here loking for that letter!!!!

Posted: Mon Dec 03, 2007 8:25 am Subject:

Providian isn't backed by HSBC they are backed by WauMu. HSBC backs their own cards. If you have a debt with HSBC I would contact them to find out where it is.

Posted: Mon Dec 03, 2007 9:34 am Subject:

Oh I know the providian was another company that was on my cr and i didnt know why, my hsbc is now with avante usa, i mailed them a payment for removal letter last week

*Name:
*Email:
*Phone:
*Zip:
*Debt

	* denotes required field

Internet's first get-out-of-debt community - 134,000 members

Should I settle??

Members Area

Free Debt Counseling

Ask the community

Featured Discussions

Featured Articles

Question of the Month

Also See

Recent Forum Discussions

Recent Blog Post