Who do I pay?

Date: Sat, 01/02/2010 - 15:41

Submitted by kjbryan99
on Sat, 01/02/2010 - 15:41

Posts: 4 Credits: [Donate]

Total Replies: 8

I contacted HSBC Sears Solutions Mastercard in early November about paying a debt on my husbands credit report. They told me that ARM was handling my account now, and that they were a collection agency. I spoke with them on Dec 2(have copy of their agreement)and made a settlement agreement to pay $800(the credit limit) on a $1200 debt, but I was waiting on a revised letter stating the removal of the debt on his credit report. I called ARM on Dec 29 to find out why I never recieved the revised offer, and they stated that HSBC recalled the debt. I immediatley called HSBC and I was told it was sold to Portfolio Recovery on December 16th and that ARM has not had the account since July of 2009. So who do I pay to have this debt removed or atleast corrected?And since ARM(who works for HSBC) made an agreement, should they still accept it?No one has been able to tell me who to pay, they just give me another number to call!!

You have to pay whoever holds or currently owns the account. AR

You have to pay whoever holds or currently owns the account. ARM holds not rights to the account anymore. You would need to contact Portfolio Recovery since that is who you were told to deal with.

lrhall41

Submitted by SOAPLADY on Sat, 01/02/2010 - 15:44

( Posts: 17315 | Credits: )

Watch the behavior of Portfoloio very carefully! They have dozen

Watch the behavior of Portfoloio very carefully! They have dozens of FDCPA and state law suits against them in the past! Mine being one of them for calling repeatedly all day long! I won a settlement against them which they consider part of the cost of doing business.

lrhall41

Submitted by Frogpatch on Sat, 01/02/2010 - 16:27

( Posts: 5381 | Credits: )

What about HSBC? If ARM didn't have the debt since July, and Por

What about HSBC? If ARM didn't have the debt since July, and Portfolio Recovery just got it December 16th, then who held the debt between July and December? I was in contact with them in November.
This is why debts go unpaid!!

lrhall41

Submitted by kjbryan99 on Sun, 01/03/2010 - 18:04

( Posts: 4 | Credits: )

Well, apprently ARM wasn't authorised to make any payment arrang

Well, apprently ARM wasn't authorised to make any payment arrangement with you on November because they haven't have the rights on the account since July.

Anyway, like others have already mentioned, you need to make fresh arrangement with the CA which currently holds the rights to collect.

lrhall41

Submitted by SC on Sun, 01/03/2010 - 22:00

( Posts: 3937 | Credits: )

Thanks for all the help, going to contact Portfolio for a settel

Thanks for all the help, going to contact Portfolio for a settelment.

lrhall41

Submitted by kjbryan99 on Mon, 01/04/2010 - 03:58

( Posts: 4 | Credits: )

Sounds like to me (personal opionion, anyway..) that these peopl

Sounds like to me (personal opionion, anyway..) that these people are giving you the run-around. I would look on your CR (if the debt is on there) and see who 'owns' the debt. These similiar situation happened to me. I didn't pay a dime until I looked on my CR. ONE CA was telling me they owned the debt...ANOTHER CA was on my CR as being the 'owner' of the same debt.

lrhall41

Submitted by sdchargers_63 on Mon, 01/04/2010 - 04:26

( Posts: 1798 | Credits: )

Good Advice! Good Chargers this year also!

lrhall41

Submitted by Frogpatch on Mon, 01/04/2010 - 06:38

( Posts: 5381 | Credits: )

My CR says that HSBC owns the debt. I called them and they said

My CR says that HSBC owns the debt. I called them and they said ARM. Arm said yes, and they work for HSBC. I made agreement and was waiting for the revised stating removal or correction procedure. Called ARM, they told me to call HSBC, HSBC said sold to Portfolio.
What get's me the most is HSBC never excepting payment when they still owned the debt, ARM was just handeling it!!

lrhall41

Submitted by kjbryan99 on Mon, 01/04/2010 - 15:35

( Posts: 4 | Credits: )