HSBC UPDATE re: reaginng

[Anonymous]

well hello everyone just wanted to let you know I spoke to someone at HSBC executive resolution department about them reaging my account.  The lady I spoke to said that because I mad a payment of at least $51 on an account with a balance of almost 1200 dollars (the limit was 400 by the way) around March of 2008 that that brought my account current.  My account has also been contracted out to IC Systems collection agency but is not charged off and has been in collection the whole time so how am I current???.  Does that makes sense ??? I know that a payment would chang the DOLA and reset SOL but  the DOFD should not change right?? She also said tht my accoutn was closed not inactive and that I would have to reapply if iI wanted to open another account. THis doesnt make any sense to me and they have added 4 more years of reportign time it went from 10/2013 to 10/2017!!!

[laz98]

i agree that you are not current.  but in some states, even a partial payment can reset the 7 year clock.  you would have to look up your state's rules.

[Anonymous]

i understand the payment reset the SOL for being sued but  they are tellingme I was current wth! the DOFD should not have been changed. how crazy is that. I sent a letter to their CEO letting them know they are in violation of FCRA  for reportign inaccurate information and  reaging (I  even disputed with CRAS and they verified even more violations). 

[laz98]

the CRAs rarely know what they are doing.  please let us know what happens with your situation!  good luck

[Anonymous]

what should I do next  I may report them to the AG and BBB but I heard from others its gets them nowhere.  Im being charged 29% interest too.  I feel like a hamster on atreadmill!!!  I feel like im biegn pnealized any longer for trying to pay an account off

[laz98]

well, if they are saying you brought your account current with that payment, then there would no longer be a DOFD, which is why the 7 years starts over.

in my particular case, i'm just letting the account age off, because they refused to work with me when i had the money to pay them.  now i'm unemployed, so they can kiss off, know what i mean.

i would wait to see what your email does, & then ask the company for complete paperwork showing how you brought the account current.

[guiness56]

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@laz98 wrote:

i agree that you are not current.  but in some states, even a partial payment can reset the 7 year clock.  you would have to look up your state's rules.

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No, a partial payment only applies to the suing SOL, not the CRTP.

The only time the DoFD can be changed is if you catch up the account and then become late again.

If you caught up and are never late again, there is no DoFD, thus there is no 7 year reporting period. 

[Anonymous]

thats what i thought guiness thanks I have only been making small paymetns never got the account under the limit and it is still contracted to a collection agency how can they say I brought it current (what a joke).  my dofd with equifax is 2/2010 and my crpt on transunion is now 10/2017!!! The lady from the executive resolution unit(office of the president) said my dofd was around 8/2006

[guiness56]

If your DoFD is 2006 per the OC, then it will fall off in 2013.

Someone needs to correct this.

[Anonymous]

They are still refusing to change it they(executive resolution dept) say because i made a 51 dollar payment it miracously brought my account current even though it is still over the limit and currently closed. The executive resolutions office sent a request to the collections department totry abd  have my account brought back frmo the collections agency IC systems The collections department said no and IC systems says I havent been working with them (just Bul@$%^) im the one that called them about the inaccurate reporting.  Oh and  i am  still waitng for my complete payment history.  I am in the process of consulting with a attorney rgardign the reaging. I receuved ciorrespondence from them where they are refusing to correct the inaccuracy and claim they are reporting accuratley I do however plan to pay this account off. HSBC is just plain horrible Sorry to be so long winded