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HSBC/BestBuy

Member

HSBC/BestBuy

How do I find out who owns my account? Below is how it's appearing on my CR:

 

Status:
Closed.
 
 

Date Opened:
09/2001
Date of Status:
12/2010
Reported Since:
08/2001
Last Reported Date:
12/2010

Type:
Charge Card
Terms:
N/A 
Monthly Payment:
$0
Responsibility:
Individual 

Credit Limit:
$2,100
High Balance:
$2,307 
Recent Balance:
N/A
Recent Payment:
N/A
 

Creditor's Statement:

Purchased by another lender.
Message 1 of 7
6 REPLIES
Frequent Contributor

Re: HSBC/BestBuy

It's the Best Buy store card, not the Mastercard, right? That would be owned by Capital One now, they bought the HSBC accounts. Nothing should have changed in terms of your account number or online access or anything though.

Scores:
07/29/12: EX FICO (Amex) 684 | EQ MyFICO 631 | TU Walmart 695
Current: EX FICO (MyFICO) 733 | EQ (MyFICO) 683 | TU (Walmart) 745

First Goal: 700+ across the board - Got it on EX & TU!!!
Message 2 of 7
Established Contributor

Re: HSBC/BestBuy

If there is no balance listed here and the account has been sold, you need to write a letter to their address on your file (or the CapOne/HSBC Excutive offices) and ask for information on who it was sold to.

Message 3 of 7
Member

Re: HSBC/BestBuy

Thank you all for your responses. This is a store card. Once I identify who the account has been sold to, should my next step be a DV?

Message 4 of 7
Moderator Emeritus

Re: HSBC/BestBuy

Yes, a DV would be appropriate.  Also you need to find out the DOFD of this account, to see when it will fall off and if you are still within the time frame to have a judgement against you in your state.

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 5 of 7
Community Leader
Epic Contributor

Re: HSBC/BestBuy

A DV may or may not be your chosen next step.

It depends upon your overall course of action.

If you dispute the debt, in whole or in part, need to verify the name of the current or original creditor, or want an itemization of the asserted debt, that is what the DV process provides.  However, by sending a DV, assuming it is timely, you also invoke an automatic cease collection bar on the debt collector until such time as they choose to provide the requested verification.  Thus, you forclose any PFD or settlement negotiations with them until they respond.

 

If you dont dispute the debt and wish to move directly to settlement or PFD negotiations, then a DV will be an obstacle.

 

Additionally, if another party purchased the debt, was it delinquent at the time of purchase?  If not, they may not be subject to the FDCPA.

Presumably, as a collection agency, they purchased the debt while delinquent.

Message 6 of 7
Member

Re: HSBC/BestBuy

Experian doesn't list a DOFD on CR. My first option would be to settle for a lesser amount, second PFD. If I settle, would this have a negative impact on my credit score? My ultimate goal is to be able to purchase my first home at end of 2013.

Message 7 of 7