HSBC charge off

[fixitquick]

Working on the last of my accounts.  Tried to use the search function here, but can't seem to find exactly what I'm looking for.

Trying to figure out how to proceed with this:

HSBC - status: Charge Off

Balance: $0

Opened 07/2005

DOFD 05/2009

Charged off 11/2009

Shown as charged off, but there's a note that it's been transferred/sold.  Fortunately, there are no CAs on my credit reports (have copies of all 3) for this account.

Not totally sure, but I may have received phonecalls from collection agency(s) over the past couple of years trying to collect this, but nothing in the mail that I can recall.

How should I proceed?  Obviously, I'd prefer to deal with HSBC and attempt to PFD, but it seems like they don't own the debt anymore.  Should I call them to find out who does own it and do a Pay For No Report?  If I'm able to do that, is there any hope of getting HSBC to GW once it's paid?

Thanks!

[llecs]

Send a GW to HSBC. That's the only option unfortunately because they don't report the balance and they no longer have anything to do with this debt. A PFD wouldn't work because they don't own it and they can't make decisions on behalf of the missing CA.

For the unreported CA, it's your call if you want to call them. They may or may not report. My fear is that if I wrote them for a pay for not reporting type of agreement, they'd report after receiving it. I had a couple of debts in limbo like this and I just kept quiet. If they do send you a dunning, then you can start the DV process and then a pay-for-not reporting offer.

[mAndrew1980]

I'm in the same boat as you. Have an HSBC charge off from 2005. The debt has been sold but on my CR no CA reports it. I'd like to PFD for I don't know who owns the debt. And even if I did and paid it, I still couldn't PFD because there is nothing to delete!

Has GW'ing an OC over an unpaid debt ever worked? Would the OC even know if it's paid or not because they no longer own the debt?

[awdsmama]

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@fixitquick wrote:

Working on the last of my accounts.  Tried to use the search function here, but can't seem to find exactly what I'm looking for.

Trying to figure out how to proceed with this:

HSBC - status: Charge Off

Balance: $0

Opened 07/2005

DOFD 05/2009

Charged off 11/2009

Shown as charged off, but there's a note that it's been transferred/sold.  Fortunately, there are no CAs on my credit reports (have copies of all 3) for this account.

Not totally sure, but I may have received phonecalls from collection agency(s) over the past couple of years trying to collect this, but nothing in the mail that I can recall.

How should I proceed?  Obviously, I'd prefer to deal with HSBC and attempt to PFD, but it seems like they don't own the debt anymore.  Should I call them to find out who does own it and do a Pay For No Report?  If I'm able to do that, is there any hope of getting HSBC to GW once it's paid?

Thanks!

---

What did you end up doing and how did it turn out?

I have 2 COs from HSBC/Cap1 on my reports, and the CA that HSBC says owns it says it's closed on their end (unpaid, they ceased collections when I DV'd them a few years ago).       Wondering if GW'ing hte OC is possible here.

[tempusfugit123]

im dealing with the same issue but found my collection agency by contacting cap1. I sent a gw to hsbc so ill see if they are willing to delete the account. The collection agenfy will eventually report cap1 is just in a mess since acquiring hsbc accounts. 

[missionpossible]

Did you ever get an answer on the GW?  I have HSBC reporting a charge off/sold to another.  I called them, was transferred to Cap 1, who told me that Atlantic is now the owner. I received a letter in Sept from Halsted Financial, but never Atlantic.   I have never received a dunning, nor a phone call from Atlantic.  Cap 1 gave me their number, and I will call them to pay, I just wonder if a GW now to Cap 1 will change the status to paid/settled since no CA is or ever has reported it?

[RobertEG]

If the OC has sold the debt, their responsibility ends with updating their account to show $0 debt due to them.  So you must deal with the new owner.  The new owner can choose to delay collection or contact, so all you can do is try to find out who they are.

The OC should, as simple, good business practice, provide you with the name of the purchaser, as without that info, you cannot pursue the matter, such as by requesting debt verification or initiating payment negotiations.

Once you have the name of the new owner, you can either DV them, and thus get a temp cease collection/reporting bar, or call them and initiate negotiations.

One or the other, as is you choose to DV, you preclude collection activity until they provide verification.

I share concern that, upon learning that credit reporting is a primary concern of yours, use that as a collection tactic, and report.

Without a DV barring collection activity, they would be under no cease collection bar.

If they do call, that triggers their requirement to send dunning notice within 5 days, so at that point, they must inform you how to request debt verification.

A nasty diilemma, with no clear "do this" or "do that."

[missionpossible]

Yes, I'm afraid with the switch from hsbc over to cap 1, any attempt after I pay the CA will be pointless trying to get hsbc the oc to change the status as we have most likely been lost in the shuffle.  Thank you, I will try.

[chevyman]

Dealing with an old credit one CO as well and the CA for them was LVNV funding but did contact cap one and sounds like I can pay with them and possible PFD also started with Lexington law

[chevyman]

Cap one also said credit one bank should not be showing up anymore