HSBC -- PAID IN FULL / SETTLED offer -- Here's what's happened now....What to do?

[Anonymous]

Mother had an HSBC account that she let go bad. They charged it off and it was assigned to their attorneys. Needless to say, they made a settlement offer and I paid it for her. I have the offer letter from them and the statement on which I paid the billd. Needless to say here's what's happened now.....

They have SOLD THE REMAINDER to ARROW....AARRGGHH....Can they do this? What do I do? Now she has an ARROW COLLECTIONS on her credit reports saying that she still owes like $400. What is it that I need to do in order to take care of this? She not only doesn't owe them but Arrow has no right to report it to my knowledge.

[Anonymous]

Did the settlement clearly state that the remainder would not be sold to another CA? If not, then yes, they can sell it. That is why you get it in writing that it will not be sold.

[Anonymous]

James,

can you tell us EXACTLY what the settlement offer letter stated? any advise without proper information would be worthless.

good luck!

[Anonymous]

James-

Remind me next time you post these things in the credit card forum that I should NOT respond. I only spent a year on this side and must have totally forgot everything I learned.

I will now go back to credit cards and leave the repairing to someone who knows what they are talking about.

Sorry for the misinformation.