@jrodzmc09 wrote:
@rckstrscott wrote:
@jrodzmc09 wrote:
@rckstrscott wrote:
@jrodzmc09 wrote:I have something like that going on right now, but would like more advise from the experts. I just got off the phone with HSBC Recovery Dept. because the collection is on my credit report from HSBC. On the comments it says it has been sold off, but why does it still have HSBC as the collection agency? I tried to work off a PFD, but HSBC says it cannot remove nothing. The CA is the one that will be able to remove the negative information whenever they get paid. Can someone clear me up on this information I just received? Thanks.
Sounds to me you got incorrect or incomplete information.. HSBC is not a collection company. The listing you are seeing is probabaly a charge off, which is negative and grouped in with collections on lots of consumer reports.
HSBC likely charged off, and sold the account. On your report does the HSBC account show a balance? If they balance is 0, someone else owns it..
If someone else owns it, they cannot do anything to remove that HSBC negative information, only HSBC can do that, and likely won't as well.
If someone else ISN'T reporting, that means a collection company has it and hasn't reported it yer..
-scott
Thanks for the information.
Yes you are right it does have HSBC as a charge-off $0 balance, sold it off to Porffolio Recovery. Just got off the phone with the CA and found out they have another of my bad accounts, a WFNNB account from EXPRESS. She offered settlements that were not bad, but she would not email me or fax me a letter stating that they would delete negative information once debt was paid. What steps should I take? CA says those letters get automatically generated once debt is paid off and that they will only state collection paid, etc. What would be a good follow up? I can contact HSBC again and see who else I can annoy. LOL
Well, every scenerio is different..
PRA is hit ot miss with PFDs, but I had luck with them settling an account and then sending a good will letter..
The question is, are either collections showing on your report right now?? I know the HSBC charge of is; but is portfolio showing?? And how old are these?
Thank you once again. HSBC is on as a charge-off $0 balance, but all I see from PRA is an alert of a potentially negative status, but its not on my actual reports. Its still HSBC everywhere. The alert of the potentially neg is for 04/2012. Does it take time for it to move its way over to the actual CR? The actual HSBC looks like was last reported on OCT2010.
Couple things:
HSBC will report, and continue to report unless they remove it with a GW letter, so we can ignore them for now, because they no longer own the debt, and can no longer collect on it.
I am confused as to PRA being listed a 'potentially negative' but NOT on your report? That is unclear and seems off to me...
Where did you get this report? from here? directly from the CRAs?
Have you pulled your free annual reports yet?
-scott
@jrodzmc09 wrote:
I dont get it either. The only place I see PRA is on my Credit Monitoring by Experian and only as an alert of potentially negative. I ran thru the other CRA's and nothing. All that comes up is HSBC. Can I maybe dispute this as a mix up of some sort and just wipe off clean? Cause this seems like a slippery slope.
It isn't a mix up.
HSBC is totally able to report this charge off, as long as the balance shows 0.
PRA does NOT need to report to all, or any, of the reporting agencies... the FCRA doesn't mandate all accounts be reported, just what is reported to be accurate... to me, it looks like sometime in April they placed it on you Experian report only, and either its still there and yer not looking at Experian reports, OR, they removed it for whatever reason.
If it isn't showing on the reports, I would seriously consider the settlement offer. PRA is very very likely to not report it after you have paid if it current isn't reporting, because it will be a pain to deal with nonstop GW letters from you 
haha
-scott
Haha! Can you tell I wont give up? Ya probably wont until I annoy the living crap outta them! lol. True. So I should take advantage of the settlement and stop that on its tracks and GW bomb HSBC. Roger that
lol. True. So I should take advantage of the settlement and stop that on its tracks and GW bomb HSBC. Roger that
@jrodzmc09 wrote:
Haha! Can you tell I wont give up? Ya probably wont until I annoy the living crap outta them!
Not everyone will agree with me, but I have personal interaction with PRA on my own rebuilding, so that is how I would approach it...
-scott
Yea. Thats fine. Hey whatever works right?
@jrodzmc09 wrote:
Yea. Thats fine. Hey whatever works right?
Thats the beauty of it. No 'one size fits all' -- I prefered to pay fast after PFDs failed because I just wanted to get things paid off fast, then work on removing later..
I was successful, I removed over 10 accounts with GW after paying.. I do have 3 that are being pains, and I am working on different approaches with them, but I think if PRA isn't reporting now, they won't after you pay, but that is just me. You could always try to get them to at least concede THAT in a letter
-scott
Yes! I still feel that way. Like I had stated before I had 2 of my charged off accounts with them and decided to pay them off today. Totaled at about $600 not a bad lost to possibly remove to big black dots off my CR. But I gave them a FAX number and nothing yet. Emailed them and nothing either. Just hoping its not a big FAIL. Oh but the today was a good day. Manage to remove a collections from RPM for $98 from Sprint off my TU on a dispute. As well as this Radioshack authorized account that I felt was actually hurting me with a HB that was over the actual CL. Think so far it was a good day for the good guys.