cancel
Showing results for 
Search instead for 
Did you mean: 

HSBC Charge off?

tag
Yoli14
Regular Contributor

HSBC Charge off?

 I have a charge off account on my CR in the amount of $619. These are the details:

 

Date opened: 05/2007

Reported since: 07/2007

Last reported: 08/2009

High blance: 619

Creditor's statement: Purchased by another lender.

 

Do you guys think if I send a PFD and it's accepted, will it give me a nice increase on my FICO score? Or will I just wake a sleeping giant?

 

TIA

Myfico on 02/21/12
Trans: 538 EQ: 591 Ex???
Myfico on 10/09/12
Trans: 600 EQ 602 EX???
Lender Pull 04/15/13
Trans 680, EQ 644, Ex 608
"I'm not telling you it is going to be easy, I'm telling you it's going to be worth it"
Message 1 of 9
8 REPLIES 8
pizzadude
Credit Mentor

Re: HSBC Charge off?

 

What is the DOFD for this account, and also the SOL for credit card debt for the state in which you reside ?  You should find out if you can be sued for this unpaid debt before you start the PFD process.

March2010 FICO® ~ 695 TU, 653 EQ, 697 EX
Message 2 of 9
Yoli14
Regular Contributor

Re: HSBC Charge off?

DOFD is 10/2007 and I live in TX,  SOL is 4yrs

Myfico on 02/21/12
Trans: 538 EQ: 591 Ex???
Myfico on 10/09/12
Trans: 600 EQ 602 EX???
Lender Pull 04/15/13
Trans 680, EQ 644, Ex 608
"I'm not telling you it is going to be easy, I'm telling you it's going to be worth it"
Message 3 of 9
Yoli14
Regular Contributor

Re: HSBC Charge off?

Bump
Myfico on 02/21/12
Trans: 538 EQ: 591 Ex???
Myfico on 10/09/12
Trans: 600 EQ 602 EX???
Lender Pull 04/15/13
Trans 680, EQ 644, Ex 608
"I'm not telling you it is going to be easy, I'm telling you it's going to be worth it"
Message 4 of 9
RobertEG
Legendary Contributor

Re: HSBC Charge off?

It says that the debt has been sold.

Thus, the OC cannot accept any payment, let alone a PFD.

I would be more concerned about a collection popping up.

Message 5 of 9
Yoli14
Regular Contributor

Re: HSBC Charge off?


@RobertEG wrote:

It says that the debt has been sold.

Thus, the OC cannot accept any payment, let alone a PFD.

I would be more concerned about a collection popping up.


So should I now wait to see if a CA bought it? Oh man, I'm really worried now.
Myfico on 02/21/12
Trans: 538 EQ: 591 Ex???
Myfico on 10/09/12
Trans: 600 EQ 602 EX???
Lender Pull 04/15/13
Trans 680, EQ 644, Ex 608
"I'm not telling you it is going to be easy, I'm telling you it's going to be worth it"
Message 6 of 9
randaljon
Regular Contributor

Re: HSBC Charge off?

Written contracts in Florida SOL is 5 years, but open accounts is 4 years.

 

Does a charged off HSBC credit account from 2007 count as a written contract or open account 4 or 5 years SOL?


Starting Scores(Jan/2011): EQ 564 TU 538 EXP 576
Current Score: EQ 692 TU 728 EXP 710 (Quizzle FAKO)Goal Score: 720


Wallet: Grow Visa 500, Capital One MC 2000, Capital One MC 1250, Paypal MC 3000, Jared 10500, Kay 2000, Walmart 2050, TJX Rewards 1200
Message 7 of 9
Yoli14
Regular Contributor

Re: HSBC Charge off?

bump

Myfico on 02/21/12
Trans: 538 EQ: 591 Ex???
Myfico on 10/09/12
Trans: 600 EQ 602 EX???
Lender Pull 04/15/13
Trans 680, EQ 644, Ex 608
"I'm not telling you it is going to be easy, I'm telling you it's going to be worth it"
Message 8 of 9
rckstrscott
Valued Contributor

Re: HSBC Charge off?


@Yoli14 wrote:

 I have a charge off account on my CR in the amount of $619. These are the details:

 

Date opened: 05/2007

Reported since: 07/2007

Last reported: 08/2009

High blance: 619

Creditor's statement: Purchased by another lender.

 

Do you guys think if I send a PFD and it's accepted, will it give me a nice increase on my FICO score? Or will I just wake a sleeping giant?

 

TIA


If the OC has charged it off and sold the debt, they cannot legally accept payment on the account.

Starting FICO Score: October 2010: TU 498 | EQ: 502
Current FICO Scores:: May 2022: TU: 784 | EQ: 770 | EX: 790
Message 9 of 9
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.