Proof of Debt

[crablegs]

Ok, so I had a HSBC card charged off. The card was open on 2005ish. The limit was $750. The end of last year I get notices from People First Recoveries, MN that I owe $2,400. Knowing that I owed, I made two $100 payments. I started thinking and tried to do some math. It seems impossible that the balance could be 3 times what the credit line was. I asked for a debt verification and they said they can't give me specifics. I would have to contact HSBC. Now, on my credit reports it shows that it was purchased by these guys. I guess they bought it from HSBC since it shows my balance at $0 on the report. Is it my job to contact HSBC or do they legally have to provide the facts? Also, could this appear as a collection on my credit report. The initial HSBC is on there but it says $0, sold to blah, blah, blah

Thanks

[Anonymous]

Yes, the CA can report as a collection on your report.

Check the link titled DV below and send a simple DV letter.

Edited: Before you DV, check the link titled state resources below and determine what resets SOL in your state and if SOL is expired or not.

Message Edited by sidewinder on 02-26-2009 06:36 PM

[crablegs]

Thanks! These jerks made two inquiries back to back. Lets say on the 25th and 26th.

[Anonymous]

Please see the edited message above.