need your advise....
Date: Mon, 10/13/2008 - 13:32
I had an unpaid debt with HSBC mastercard. I was not able to pay it for I lost my job. I had agreed with the collections department to pay it for a year when they had offerred an amnesty to me. unfortunately, I was not able to comply with the agreement for I stilll lacked funds and got no job.Recently, I received a letter from the Attorney stating that i needed to settle my account within 5days after I received the letter or they will be filing a case against me. What is the best thing that I should do?
Who is the attorney? Is it for HSBC? When was the last paymen
Who is the attorney? Is it for HSBC?
When was the last payment made?
If this is a Collection agency then they have to give you 30 days, from receipt of the dunning letter, to dispute the debt. Threatening to, or sueing you during this 30 days is illegal by federal statute.
They could have sued you prior to contacting you but after contacting you they have to give you the right to dispute the debt.
Send them a debt validation letter. I agree with Cellular. It is
Send them a debt validation letter. I agree with Cellular. It is better if you can settle your debt with the original creditor. Try to settle the debt with your original debtor.
Also, as long as you're trying to work something out most of the
Also, as long as you're trying to work something out most of the time they'll take your payments and not sue you (if it is, in fact, a lawfirm).
If it's just a dc then they will usually tell you they can't take less than a certain amount but just send it what you can (NEVER give your bank info to them!!!).
Good luck.