Professional Recovery Services Inc

The collection agency can sue you for collecting the debt if they legally own the debt. You can send them a debt validation letter in order to check out whether or not they really own your debt. If they own your debt, then your husband and you can try and settle the debts with them so that it becomes easier for you to pay off your dues. To know the steps to settle the debts on your own, check out:
http://www.debtconsolidationcare.com/steps.html

Hi!
Welcome to the forums!
Yes, they can sue you and your husband if the Sol period is not yet over. However, if the Sol on the debts is over, then they can't sue you. So, check the Sol period of your state. You should try to increase your income. Your husband can do part time jobs and you can give tuitions to the children in your neighbourhood. You can use this extra money to pay off the debts. If you really can't pay off the debts on your own, then get professional help. You can enroll into the debt relief programs and repay the bills.

if i send a validation letter how do I know if they do or do not own the debt? Is it as simple as if they respond with the information they own the debt and if they don't respond they don't own the debt?
Thanks for the help!

If these just went delinquent last year, they are still well within SOL and interest and fees are still accruing. It may seem like n amount to small to sue over but before too much longer, that won't be the case. I doubt very seriously if they own the debt as HSBC normally doesn't sell off that quick. A DV would just be a stall tactic at this point. Just remember, they never have to respond to a DV but if your DV is timely (within 30 days of recieving the initial dunning letter) they must cease collection efforts until validation is provided. Also know that they are only required to provide a bare minimum of information per sec 809 of the FDCPA.

These accounts were turned over to collections the end of 2010 or the beginning of 2011 so yes within the SOL. Can you please tell me what information they do have to provide with the DV request? I need to buy time to be able to pay (hopefully) a settlement on these accounts? I won't have the funds or ability to do this until March - do I have that long if these accounts were just turned over? Do you know how long an agency typically keeps accounts in house? Do fees and interest continue to accure even after being turned over to an agency. Does HSBC typically offer settlements? If so - what amount of settlement is considered a good deal? Any information I can get would be helpful, this is all new to me.

Can anyone help me with the above post

Anyone.....Please???

I told you where to look. Sec 809 of the FDCPA will tell you what they have to provide as far as validation. And yes, fees and interest are still accruing.

They can sue, but with you in a different state then the collection agency they will not sue because the company has no attorneys working for them licensed in your state and the cost would be to high to a low amount. They will keep calling and sending letters then it will get sold to another debt collection agency and so on. If you can't afford to pay the balance you can work out a settlement of 60% of the total balance and make payments if they really want their money if not then let it run its course after 3 years or so depending what your state laws are with old debt staying on your credit reports. It's possible that they only report to 1 credit report agency and not all 3. Check all 3 of your credit reports, you get 1 per year free. Go on the website Rip Off Report and you will find them on there with a lot of scams and complaints.If you have any further questions here is my e-mail, deleted...pm

Good Luck,

Bob
no personal,or solicitory info per THE TOS.besides you are responding to a year plus old thread.