If you file bankruptcy HSBC will report that you owe a balance.

[ando35]

I filed bk in 08 and HSBC sold my debt to a debt collector before I filed for bankruptcy. So now it reports as SOLD balance  $1800. By law, they must report a zero balance but they do not because techncially they are reporting it correctly. Cap One bought HSBC, so I do not know how they will be handling it now, but be aware. They will report you as owing the money that you owed before your bankruptcy. 

[jetsfan2013]

Submit a dispute with the credit bureaus. 

[Countingpennies]

Yes, dispute with the CRAs, this account should be 0 balance, included or discharged in BK. For some reason, HSBC accounts are kinda stubborn. It took me about 3 rounds of disputes to get them correct, and I still have one on EQ that I'm working on.

Sometimes they update to sold/was a chargeoff, but as long as it's 0 bal and IIB, it should be OK.