Rebuilding Your Credit

[blondy111]

I was trying to contact couple of original creditors however in reply I was told to turn to HSBC.  I have 3 different accounts from different places but they are all provided by HSBC.  My goal is to contact them and offer paying my debt off but I don't know what type of letter to write. Can you please help me?

[guiness56]

It depends on what outcome you would prefer. 

A PFD - you pay them for a deletion.

A settlement offer - you offer so much of what you owe.

How old are the debts, are they still within SOL?  Are they still on your CR?

[blondy111]

I'm looking into rebuilding my credit... I would like to work on some deal where I can pay them what I owe.  Those accounts are about 2 years old and are in collections, however I rather offer to pay HSBC directly in return for some positive outcome.

[guiness56]

Is just the OC reporting or is there a CA also?  Does HSBC still own the debt or was it sold to a 3rd party CA?

[blondy111]

Currently they are all reporting ( OC & CA ) I don't want to deal with CA.. One of those bills is for office max and when I emailed them I received reply saying to contact HSBC and that is why I figured since I'm going to write to them I might as well ask about all of those accounts.

[guiness56]

Unless HSBC still owns all of the accounts, they can't help you.  You would need to deal with the CA.

If they do own them they may be willing to remove the account from the CA if you PIF.  I don't know if they are willing to remove any negative information from your TL that they are reporting.

I guess you could call it a GW/PFD letter.