I am new to this so please advise. Here is my situation:
I used to have an auto loan with HSBC Auto. The car was repoed back in 2002. The account was opened in 1999. The reason for repo was incarceration. Now im back on track. The date of 1st delinquency was back in 2001. Now my wife tells me this is important for the following reason:
The account should be ready to come off my report after 7 years. It currently resides on one report which is Experian. The other 2 bureaus arent reporting this. However, according to Experians reporting it wont come off until 2010? Any ideas? In addition to the above information the account was sold to 2 different places. It went from HSBC to NCO to Giove Law Office. I settled the account with Giove last year and have a payoff letter. However when i call HSBC thinks this account is still active. They even have me setup in the automated system still with an active account balance. My question is how should i handle this? Should i send goodwill letters, disputes, or just leave it alone and wait for removal date of 2010?
I guess I would dispute the balance if I wasn't concerned about the history. Basically, this account should convert to a good account with HSBC and continue for 3 more years beyond next year. A 1999 open date is too important to lose. If it came off, I'd bet you'd lose points.
NCO or Giove need to come off though if still on. A GW may accomplish that.