HSBC Card

Mishele, I think any new place I'd be dealing with I'd ask a debt validation letter for, especially if he keeps changing the amount you owe. That way you'll have it in writing exactly what you owe and, if it ever did go to court, you could show that to the court. And if it did go to court, wouldn't it be in your favor, anyway, since you are sending payments in?

I would think so but you never know. It was late so I don't know why the amount kept jumping up by thousdands. I have a couple of options. I contacted my local CCCS office because my hubby is with them. I explained the mess with the debt settlement company I was with, (which you know all about) and they are going to send me a packet in the mail today. I wasn't up all night worrying about this so I guess that is a step in the right direction. I probably will send in a debt validation request..... Just looking for some input here :-)

Mishele----Do you mean that the guy kept raising the amount while you were talking to him?

No, the amount if I went to court kept going up and up.

Check the original contract signed with HSBC. It should have the terms in which the collection charges are to be mentioned. Besides, every state mentions the fees that can be charged when a file is in collections or it has reached the court. You will know if the debt collector is presenting your account correctly.

Can I ask for a copy of this in the debt verification process?

Debt collector is not legally obligated to provide you the info. But you can make a request. You must be able to verify the laws with your state AG regarding the collection fees. The HSBC contract is already with you, I think. You should get some info there.

Household does sell their accounts. They also sue. HSBC is a nasty company when you default. Much like any creditor, they don't care about anyhting but their money.

Boy you got that right. THey will even sue after they have accepted a proposal from a consolidation company and cashing the checks. Then they lie and state they aren't receiving any money. But they are the ones with egg on their face. T&C provided proof of the checks being sent, when they were received, and when they cashed them.

household does sell their accounts.. i have one with them that just got sold to a company that truelogical finance is trying to collect on..and as u said the amounts went up ..mine went up 3000.00 in 8 months time thast why i sent out a dv letter this time

How can I tell if they actually sold my account to the CA or if they just placed it with them? I might have my credit card contract still in my desk drawer. I will also check with the AG's office in my state regarding collection fees. Thanks for the idea. I don't want this to go to court and turn into a bigger fiasco. HSBC actually cashed a payment on this account this week. Should I ask for that to be deducted from the settlement amount with the CA? I'm going to send another one next week as well, just to be on the safe side. My debt settlement company did not favors for me at all. That was a big mistake on my part. I was able to work out payment arrangements on my Beneficial loan yesterday. The guy from Beneficial was really nice so that was a big relief.

Tell me more about the settlement and how it was set up.

FYI,

Nothing official has been set up yet. I have not received anything in writing from the CA yet. That is why I'm a little confused right now. I spoke to the guy a couple of nights ago on the phone. He said I could pay $1100 by the end of the month or make two payments of $756, this month and next, if I couldn't do one lump sum. Don't they have five days to send me something in the mail since I spoke to him on the phone?

Not if you already have your first notice letter. Call them back and request somehting in writting. But already have which plan you want to use. They could probably fax it over to you as well.

I haven't received anything in writing from them yet.

Call them and ask for a settlement letter. You should also ask how long it would take for you to get a zero balance letter.

What if I can afford the settlement for another couple of months? I've made arrangements with two other creditors and might not be able to afford this unitl February. I really don't want to go to court over this and pay thousands in lawyer and finance fees.

Then I would wait to even ask for an offer. Those generaly expire within 30 days or by client close out on the month offered.

You are in a sticky place. Can you afford to send in a small payment along with a letter explaining you financial difficulty right now and would send in what you can. Then in Feb ask for a settlement? I wouldn't express your desire to settle the account in the letter. Do the same for January.

Today, I received a call from HSBC on this account. Now, I'm really confused but I'm going to send a dv letter to the CA this week and go from there. I have made two payments to HSBC recently and they have cashed both.

I would keep making what payment you can until you are prepared to settle within that month.

When I was talking with a creditor about my desire to settle my account with them and letting them know where they were in the que, I told them I would make $25 good faith payments monthly so that they would know that I acknowledged the debt and wanted to pay. It stopped the phone calls, etc.

I sent out a dv letter to the CA today. HSBC cashed my second payment so I'm also going to send them a letter as well. Thanks for the help :)