Getting sued by HSBCs collection agency

Is it a credit card you had through HSBC?

Yes it is

was it Atlantic Credit and finance Inc., or John P. Frye?

There the ones bugging me for an HSBC account that I had.

Atlantic Credit and Finance

i had a loan with HSBC but was not able to pay for it because of our very difficult condition. i am aware that it is my responsibility to pay them back what i owe them but as ive said, i was not able to do it. will my case be forwarded in their legal department and will i be imprisoned for it?

Ging, you can't be imprisoned for not paying a debt. However, it might be forwarded to the legal department and they might decide to file suit. It they do and they win and get a judgment against you, they could garnish your wages, attach your bank account, and/or lien you property.

What type of loan is it? If it is a secured loan, they could also repossess your property. How much late are your payments?

Sounds as though you are soliciting business..options plus.

I just called HSBC and found my account has been sold to the same people. I looked at their website and it says they are *willing* to help their consumers. they own the accounts now HSBC has nothing to do with you/us anymore. I saw post on here were people were getting calls from the law office of James P Frye....without being contacted by the collection agency 1st!

So my question is, since the collection agency owns the account not and you have the law office calling you on behalf of the collection agency, can you C&D the law office and speak soley to the collection agency? The collection agency seems to be willing to help people where as the law office wants payment in full blah blah.

Should I call the collection company before they send me anything to try to work with them before the have James P Frye calling and demanding payment in full?

Just because they say they are willing to help does not mean they are actually willing to do so. Many claim to care about people and are willing to help, but this is just to make them look good. I am not saying all CAs are like this, I actually did find a CA that was not only willing and happy to validate, but who understood honest economic situations and someone????????s ability to pay and agreed to a very reasonable payment arrangement and even put it in writing...though personally this is the only one I have come across of many.

I have never been sued so I can't help you there but from dealing with other court things (like paying for a ticket) I have found a judge absolutely reasonable who will take your situation into account and more then likely set up a payment arrangement you can handle.

Don't let the CA or the law firm (remember some law firms act as CAs as well) scare you into anything; remember that you are human with very real pressures and a right to live. Be sure they fully validate, are completely licensed and/or bonded and have the correct amount. Then offer a payment arrangement you can afford and know you can stick to..like I said I had a CA agree to $25 a month. Be sure to do the majority of this in writing so you have paper trail and proof. If they refuse to budge, let them take you to court and then show the judge your efforts to try and deal with the situation as best you were able. As I said, the judge will take your situation into account and will work with you where a CA will not???????.you might even be able to get the judge to waive the legal fees (and counter sue for your legal fees) based on the fact that the CA refused to even consider working with you..I have seen THAT happen before. (I sat in on a few court cases).

Well I got the collection agency information wrong. HSBC sold it to National Enterprise Systems and they are the ones threating to sue, and I have no idea how to deal with them.

Send them a DV letter, it is your right. They can't sue you while under a DV (not that they won't try- but it is defensible on your part). Don't let them scare you. Tell them you want a full accounting of the item as well as their legal right to collect from you. If they comply, then offer them something you know you can afford and stick to. If they refuse it (be sure all this is in writing) then let them take you to court...after all, what more can you do? You offered to take care of your financial responsibility the best you were able and they flatly refused. No judge will steamroll over you if you show up to court and prove that you tried your best to work with them, but if you have health issues and very little income, what more could you possibly do? The CA will be in a very unfavorable light and more then likely the judge will rule with that in mind.

Hi I have a loan in dubai and i moved in United kingdom. I wasnt able to pay my loan for few months since my company is not stable and we havent been paid now for few months. The bank that i owed is hsbc and I wonder if whats the easiest and cheapest why to transfer a fund to another accnt. They are threatening me to black list me and put me in jail. But I can do anything really since my company havent paid us. Right now I am working from home Is there any one can give me advice pls... thanks!

I was contacted today by James "Roy" @ Foster & Gurbus attorneys on behalf of HSBC for a credit card I owe...anyone have experience with dealing with this attorney? I have no idea how to handle this...I owe about $5,000 to HSBC but I spoke with them 2 days ago and they are taking $21 out of my account this friday so I can't understand why they have turned it to an atty office and didn't mention it last time I made pymt....?

anyone had experience with this attorney's office? could this be the same as James Frye? I thought he said James Roy though....

what can beneficial (hsbc) do if i do not pay back a 14,000 loan or agree to pay the 65$ /month the collection agency wants...can i just say all i can afford is 25$?

Wow..I'm surprised they even offered the $65 considering it would take like 17 years or something to pay it back! Are you sure this isn't bought up by a junk debt buyer and not from HSBC themselves? Did you DV the CA? I have never heard of a CA accepting, let alone offering that low of a payment for an account that high.

I'm with GB on this. Something smells powerful fishy in this. DV is definitely in order here.

here's the thing ,HSBC dubai will try to get money from you even if you dont owe them anything.
I had a loan with them before and I paid the full amount. I am now living in UK which HSBC is aware of. Yesterday,I was aghast to know that HSBC has continously charge me without any basis what it is for. some ways of milking I guess...just because you're living abroad they thought you have no way finding it out till its too late...

hi

I was having bill around 1,55,00Rs with HSBC including all charges.
It was around 2 yrs period. i havent paid bill.
They were calling now and harasing me.
Can any body sugest me what to do.
What is the right way to come out from this issue.

I have a long outstanding credit card payment in Sri Lanka which I could not pay due to me loosing the job. But I did send couple of mails to the bank requesting to give me a easy settklement plan. Now I am based in Canada and the collection officer by the name of Dharmadasa has visited my old sick parents and abused in bad language. My parents has nothing to do with my transaction and I wonder is this the wy a reputed bank handle their customers. These kind of people really put the bank immage down by dealing un professional and un educated manner. I am so dissapointed the way HSBC treats us. They also spreading around my neighbourhood that I have stolen huge amount of money and ran out of the country.This type of act is disgusting.

You would have to look up the laws in Sri Lanka as each country has their own collection laws.

I was an employee of HSBC.... and i can tell you so much, anyone who has taken a loan or credit card has paid for the insurance in the beggining. The insurance charge is supposed to cover non payment. This is paid by the customer. Now.... the bank collects the money from the insurance and sends the file to the collection department. They will call you and harass you and even file a case against you. The bank already has collected the money and now... its upto the collection dept for getting any amount of money from you which is an added bonus from them. These collection agency get paid a good commission from the customer. This is blatant day light robbery where corporates are making money.. this should be stopped... So please stand up and fight these low life corporate parasites.

"what can beneficial (hsbc) do if i do not pay back a 14,000 loan or agree to pay the 65$ /month the collection agency wants...can i just say all i can afford is 25$?"

You can't just borrow money and not repay it. They can gasrnish yoru wages, lein property you may even have to count it as imncme and pay taxes on it. this won't just go away. you have to pay your bills I was in a situation where I was unable to pay on some loans and they charged off i am paying for it dearly now 8 yrs later still paying. had i known this i would have taken care of it then good luck and i suggest you figure it out

i know i owe hsbc the money so what is the point of the debt validation? i'm not really understanding that yet..i have already spoke with them on the phone about a settlement but of course they want about 80% of the note

The point of debt vlidation to make sure about the amount that you owe, and to make sure that the collection agency has a right to collct. There are some CA's that will collect on debts they are not legally allowed to. They also may have an account that was called back by the OC, but thy will still try to get you to send them money anyway. I once had an account that was purchased by Capital One, and was making paymentsto the Westmoreland Agency for. They referred it to NAFS, and the guy who was calling me said that Westmoreland had no more rights to the account, and that he owned it. Funny though that every time I called Westmoreland, they told me they still owned the account. If you give a CA money without valiation, you may be throwing it away.

HSBC calls me many times a day. Even on my cell phone. (don't know how they got that number, unless I wrote it down as a back up or something). To avoid bankruptcy I had contacted a debt settlement company, as I have no assests to get a debt consoladation agreement, my only income is social security now. They say that they refuse to talk to a third party. But being a CA are they not also a thrid party? I stopped answering their phone calls.

I have a $16,000 loan with Beneficial HSBC. I stopped making the $300/mo. payments the beginning of this year cuz I couldn't afford it anymore. They called and called and I tried to make arrangements, but they pretty much rejected that. The loan was then bought by ACS. And for a couple of months, they called and called. Guess they had no luck getting anything from me cuz they sold it to PRS, which the the current collector. I sent them a certified/return receipt letter and Letter of Agreement stating I will pay $25/mo. Wanted the Letter of Agreement signed and dated and returned to me and I would start paying at the end of Dec, this month. They got my letter cuz I got the green card receipt. I got a phone call from PRS saying they have good news for me. This was 12/10/10. Didn't call back. Got another call today, 12/28/10, same guy wanting me to call. I did...and let me tell you, PRS is a joke. Such unprofessional people working there. I can't seem to trust who I'm talking to and certainly don't want to send them money and have it go into some Joe Schmoe's pocket. Know what I mean? So I talked with this collector...more argued with him, and he was telling me to shut up and stop it, stop it, you're giving me a headache. He finally relented and said I won and could send $25/mo. in money order form...cuz at first he wanted promissory notes. I said I want my Letter of Agreement back signed and dated and then we will have an agreement. Wasn't going to agree to anything over the phone. He said he would get something from PRS legal dpt...but I said I still want my letter sent back signed and dated...he finally got sick of hearing me and hung up, but not before he said, "You're welcome." I didn't ever say thank you and he was telling I should be thanking him...what an ass!!! Just pay the collection agency whatever amount you want a month for seven years and then it will just drop off your credit report. I had this happen to me 18 yrs ago...and it worked. Paid $25/mo for seven yrs to ABC in Denver, CO. Decided one month not to pay, see what happens. Didn't ever hear from them again and it wasn't on my credit report after 7yrs. And I sure wasn't going to pay money to a side business of Pete Coors' wife, from the Adolph Coors family...lol

Thanks for sharing this. Wow, HSBC is the worst, aren't they? I have had my own dealings with them which are not pretty. Nothing like getting called 1000 times a day and getting the same collectors. They must have just one phonebank, lol...

i was called and theatened on a credit card that was 10 years oldis this legal

Be careful, by having you make a small payment (any amount) sometimes they are just trying to re-start the clock on the statute of limitations for your particular state (the expiration date of the time that they can legallly sue you).

I received abusive & harassing phone calls from this number also from a "Mr. King". Mr. King lied and threatened me & my family.
I just got off the phone with the Attorney General's Office & the Federal Trade Commission after filing complaints with both offices.
If you receive a call from this number:
PLEASE CONTACT THE FTC:
http://www.ftc.gov/ftc/contact.shtm
Toll-free helpline: 1-877-FTC-HELP (1-877-382-4357);
TTY: 1-866-653-4261
CONTACT YOUR STATE ATTORNEY GENERAL OFFICE & FILE A COMPLAINT IMMEDIATELY!

:mad:My father was called by a collection agency, not telling them their business name and told him he owed a balance on a hsbc card that he closed and sewnt the card back with payment in full. I called in behalf of my 90 year old father. They put me on speaker phone and when I told them I would call and get the statement of a zero balance they refused to give me the fax number. They were telling me the company would swettle for less then owed and laughing in the background. Again called to get the fax the Alex Kim (the receptionist) asked me if I was OK? Are you OK?. He was so rude. I called on 2 separate phones and the 2nd call he knew the number and started right on me aqain. Pristine corporate? 1-888-350-5995.

HSBC does their own collections. They hardly ever seek legal action, because it is costly for a bank to do so. If you are being sued by HSBC then you will probably lose. Also, HSBC does a good job of trying to help their customers avoid legal action or charge off, especially for medical reasons. The fact they are willing to take time and money to sue you indicates you are bad money manager and it is your fault. Just pay your bills.

#33 Take your pay your bills crap elsewhere, trust me, if we could pay our bills we wouldnt be in the position we are in. Sometimes shit happens that prevents a person from paying creditors. So tell it to someone who cares

btw anon9 HSBC does sue people and for balances below 1,000.00.so the humanoid above you can take a hike,and get back to their pathetic thing they call life.