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Hello,
I'm trying to find advice regarding what to do about this situation. I had two HSBC cards back in 2008. They went bad and eventually went to collections. They have since been paid and are showing a $0 balance. The problem is that Capital One boutght HSBC and now I have 3 listings for each credit card. One for HSBC Bank showing (sold or transferred with $0 balance), one with Capital one showing (credit limit $300, $0 balance, open) and one with the collection agency (showing paid colleciton $0 balance). I don't think that i should take 3 hits for one account. They are scheduled to drop off credit report next year, but right now I'm trying to get a mortgage and this extra Capital one hit is hurting my credit. It is a new listing that wasn't there in March 2014. Should i call to see about getting it removed, leave it or what? Any advice would greatly be appreciated.
You might try disputing it with the CRA as a duplicate entry, stating Capital one IS HSBC, and there should be only one entry from them. Its not like Cap one is a third party collector that purchased the debt. They essentially ARE the OC now and there can only be ONE OC, not two.
This is how I see it - Cap One becomes the OC and the HSBC entry dissapears, OR, Cap One is treated like a third party Debt Purchaser who has subsequently transferred the debt to another party, and they stop reporting, letting the HSBC entry stand as the OC entry.
I have the same problem before. I had HSBC and Calvary Portfolio reported both the same amount in my 3 CB. HSBC sold it to Calvary and they left the report in my file. Contact Cap1 excutive and they will remove it for you. I have done this. But you have to contact Calvary to have them remove their which Im still working on it. Good luck.