What do you think?
Date: Tue, 06/16/2009 - 05:54
I have around a $6400 debt with HSBC. This account went from Direct Merchant Bank/Metris to HSBC. I found out in May 09 that the account was written off and sold then assigned to a collection agency in my state of Illinois. I had been making small semi regular payments on this account up until April of this year. HSBC told me that the account had been legally sold to The Bureaus. The Bureaus told me they had assigned it to ARS. This was all done by phone. ARS contacted me and I requested validation. They rec'd the letter on May 11. I called friday to ask if they had sent my validation yet and why not. They told me they should have already requested the documents but they would request again.
I feel like if this collection agency can prove to me that it has a legal right to collect this debt, I would wait another couple of weeks and ask them to settle this unvalidated account for 20%. I am beginning to think they may have a hard time validating this as it did change hands with the OC. Since it was a very new account I would have thought they could have had it done by now.
I am concerned about one thing with this deal tho. On May 4th, the agency ran a credit report on me. I requested a 5 day dunning letter when they called the first time on a Tuesday. The following Monday May 4th they ran the report and called and ask if I had rec'd the letter. They proceeded to email a notice to me with them listed as the creditor. I fired off the validation letter 2 days later. I finally rec'd the first letter they claimed to have sent on May 12. They had HSBC listed as the creditor. The date on the letter was May 4th. I think they pulled the info off my credit report. But I do know that the account was sold and then assigned to this agency.
The buyers put this on my credit report as soon as they rec'd the account. Since I have requested validation, the account with the buyer no longer shows up on any of the three agencies. Which leads me to think they may not be able to validate so they removed their mark.
Anyhow, what do you think about me doing this? Is there anything that I need to keep my eye on with these lowlife collection agencies? I do owe the biggest part of this debt. I want this to be done. Any suggestions???
I feel like if this collection agency can prove to me that it has a legal right to collect this debt, I would wait another couple of weeks and ask them to settle this unvalidated account for 20%. I am beginning to think they may have a hard time validating this as it did change hands with the OC. Since it was a very new account I would have thought they could have had it done by now.
I am concerned about one thing with this deal tho. On May 4th, the agency ran a credit report on me. I requested a 5 day dunning letter when they called the first time on a Tuesday. The following Monday May 4th they ran the report and called and ask if I had rec'd the letter. They proceeded to email a notice to me with them listed as the creditor. I fired off the validation letter 2 days later. I finally rec'd the first letter they claimed to have sent on May 12. They had HSBC listed as the creditor. The date on the letter was May 4th. I think they pulled the info off my credit report. But I do know that the account was sold and then assigned to this agency.
The buyers put this on my credit report as soon as they rec'd the account. Since I have requested validation, the account with the buyer no longer shows up on any of the three agencies. Which leads me to think they may not be able to validate so they removed their mark.
Anyhow, what do you think about me doing this? Is there anything that I need to keep my eye on with these lowlife collection agencies? I do owe the biggest part of this debt. I want this to be done. Any suggestions???
reply
CA'S or JDB'S have no timetable to validate.it's good that the JDB took the entry off your credit report.it shows they can't validate.i would keep an eye on your credit report for any others that pop up.i suspect the debt will be passed on,so keep on lookout for that.
