logo

Debtconsolidationcare.com - the USA consumer forum

Forums
  • Latest topic

Single Mom needs some advice

Date: Tue, 06/23/2009 - 08:54

Submitted by anonymous
on Tue, 06/23/2009 - 08:54

Posts: 202330 Credits: [Donate]

Total Replies: 4


I have a letter from an attorney in Raleigh, NC saying they are going to sue me on behalf of HSBC Bank Nevada unless I respond or pay them in the amount of $6,499.56. I know the credit limit on this card was $4,500 and I did stop making payments last Oct, so apparently they've taked on A LOT of fees.

I want to try and negotiate a settlement and payment with them if at all possible, but am unsure as to how to start. Should I send a letter to them AND to HSBC? Via registered mail? I found some sample letters online, but want to do this right. I don't have money for a lawyer, but think i am smart enough with some help of the internet community to handle this myself.

I am also in the process of working with Target National Bank on a similar issue, but since that one's still with the original creditor, it's a little easier.

I am in NC and I really want to get this taken care of so it's not hanging over my kids and my heads.

Any advice would be appreciated. I need to respond soon

Thanks!


The good and bad news is you are in NC. Here is the good news: in the state of NC you cannot be garnished or have a lien placed on your property. Here is the bad though: according to the FDCPA an attorney that brings a lawsuit against you must reside in your state. Here is what I would do. I would see if they are willing to workout some sort of payment arrrangment before it gets taken to court. This would be an incentive for them because they cannot garnish you all they can do is put a judgment on your credit report.


lrhall41

Submitted by on Tue, 06/23/2009 - 11:43

( Posts: | Credits: )


Technically, you can do both but once a case has been sent to an attorney, most lenders will only refer you to the attorney and won't discuss the matter with you. I don't have experience with HSBC specifically, but it seems that if they are serious about litigation they need to be sure that THEY don't do anything improper. This isn't necessarily bad news. Sometimes you get better deals with the attorney than with the lender. If he's a full time 1, he's got hundreds of files and a settlement with you gets one more off his desk. Make a reasonable enough offer and let HIM pressure HSBC to accept it . . .


lrhall41

Submitted by on Tue, 06/23/2009 - 13:53

( Posts: | Credits: )