PFD Example Letter

[nothingman02]

Thats not an unusual response.Do you agree to the debt? If so, send out another PFD. If not send out a proper DV and disagree to their verification. State that they need to obtain verification from OC

[Anonymous]

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@Anonymous wrote:

I just got off the phone with my CA, im trying to get a PFD on my HSBC account and there superviser said that HSBC will not do this.. but you can pay in full, then dispute it to be removed from all 3 credit places.. HSBC will not reply back and after 30 days.. all 3 places will remove it.. because HSBC didnt reply back after you disputed this claim..

Is this correct?? SHould i just send a letter first.. before paying them in fulll !!! 

Anyone have any luck with HSBC and doing a PFD?

thanks 

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Anyone have advice on this one !!  Is it true that if the no one reply back after 30 days, a chargeoff can be removed 

[llecs]

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CaMs wrote:

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@Anonymous wrote:

I just got off the phone with my CA, im trying to get a PFD on my HSBC account and there superviser said that HSBC will not do this.. but you can pay in full, then dispute it to be removed from all 3 credit places.. HSBC will not reply back and after 30 days.. all 3 places will remove it.. because HSBC didnt reply back after you disputed this claim..

Is this correct?? SHould i just send a letter first.. before paying them in fulll !!! 

Anyone have any luck with HSBC and doing a PFD?

thanks 

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Anyone have advice on this one !!  Is it true that if the no one reply back after 30 days, a chargeoff can be removed 

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If you dispute it, HSBC will verify it.

I'd send off a round of PFDs.

[Anonymous]

yea i figured that.. but this CA is not budging with this, i spoke to 2 supervisers and they are saying that HSBC will not remove anything.. but you can dispute it after you pay, becuase once they have there money they dont care anymore.. so they will ignore the dispute and after 30days it can be removed from your credit report.

 You say send a round of PFDs out.. so should i sent them to BOTH the CA and HSBC?

thanks again  

[llecs]

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CaMs wrote:

 You say send a round of PFDs out.. so should i sent them to BOTH the CA and HSBC?

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Only deal with the creditor that is reporting. If the CA isn't reporting, ignore them. They don't own the debt. Never call a CA. Only send a PFD to whomever is reporting the balance (HSBC).

[Anonymous]

OK, But when you say only deal with the creditor reporting, whats make someone "officially" reporting?  Whatever contact is shown on my credit report for that account?  It does show on my CR with HSBC, but when i call them theysay my account is closed and direct me to the CA.

 

Just a little confused on this!! On the sample PFD leter, it says on top "Collection Agency" .  So thats why i figured i sent to them first 

 

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@llecs wrote:

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@Anonymous wrote:

 You say send a round of PFDs out.. so should i sent them to BOTH the CA and HSBC?

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Only deal with the creditor that is reporting. If the CA isn't reporting, ignore them. They don't own the debt. Never call a CA. Only send a PFD to whomever is reporting the balance (HSBC).

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[llecs]

HSBC owns the account, not the CA. This is evidenced because the OC is reporting a balance, and not $0, and the CA isn't reporting. If you call HSBC back and ask "Who owns this debt?", they will tell you that they (HSBC) do. And they will try to transfer you to the CA. Under the contract with the CA, HSBC is to direct all calls to them. That's why you get the run around. You may get around all of that if you speak to a supervisor at HSBC. However, calling them won't help unless you are contesting the balance, reporting, etc.

A PFD is a pay for delete. The CA isn't reporting so they cannot delete themselves. And a CA cannot make the decision on behalf of the OC to delete, because it is HSBC who owns the debt and continues to report monthly on your CRs. Again, IMO, I would PIF to HSBC and then GW HSBC later asking them to remove the CO reference, lates, etc. If you go the PFD route, then PFD HSBC and see what they say. Start by sending it to the address on your CRs. With the help of google, add other addresses, faxes, e-mails, etc. over time to get them to accept.

The PFD examples are only that. You can customize your letters to tailor to your situation.

[Anonymous]

thankyou for clearing this up.. i appreciate it

One more thing, is there a certain time that i have to pay the CA.  When I called them yesterday, I told them to not call me and I will pay in full in about 2 weeeks (waiting for a check to clear) they said can you pay at least $100 dollars so shows that you are serious or something to that effect.. they where saying that it leaves them and goes to someone else..

Is it bad that i paided them $100.. it did come off my balance though !!! 

[llecs]

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CaMs wrote:

thankyou for clearing this up.. i appreciate it

One more thing, is there a certain time that i have to pay the CA.  When I called them yesterday, I told them to not call me and I will pay in full in about 2 weeeks (waiting for a check to clear) they said can you pay at least $100 dollars so shows that you are serious or something to that effect.. they where saying that it leaves them and goes to someone else..

Is it bad that i paided them $100.. it did come off my balance though !!! 

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Under the PFD agreement to HSBC, you'd pay HSBC and not the CA. If they accept, you'd pay within the time frame you set forth within the agreement. I think the examples in here say 2 weeks from the date you receive the reply letter from them.

Paying the $100 is only bad if you didn't have the $$$ to PIF. Paying will likely reset your SOL (YMMV based on your state's laws). But since you have the $$$ to PIF, IMO, it is a moot issue.

[Anonymous]

I just spoke to them (HSBC) and stated i would like to pay them.  They said you cant, you have to pay through the CA.  You can mail them a certifited check.  Does this mean HSBC doesnt own it now?? 

My concern about starting to send the PFD is time..  I received the 1st letter from the CA on 5/26,  how much time do i have before it goes to an attorney.. 

 

 

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@llecs wrote:
HSBC owns the account, not the CA. This is evidenced because the OC is reporting a balance, and not $0, and the CA isn't reporting. If you call HSBC back and ask "Who owns this debt?", they will tell you that they (HSBC) do. And they will try to transfer you to the CA. Under the contract with the CA, HSBC is to direct all calls to them. That's why you get the run around. You may get around all of that if you speak to a supervisor at HSBC. However, calling them won't help unless you are contesting the balance, reporting, etc.

A PFD is a pay for delete. The CA isn't reporting so they cannot delete themselves. And a CA cannot make the decision on behalf of the OC to delete, because it is HSBC who owns the debt and continues to report monthly on your CRs. Again, IMO, I would PIF to HSBC and then GW HSBC later asking them to remove the CO reference, lates, etc. If you go the PFD route, then PFD HSBC and see what they say. Start by sending it to the address on your CRs. With the help of google, add other addresses, faxes, e-mails, etc. over time to get them to accept.

The PFD examples are only that. You can customize your letters to tailor to your situation.

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Message Edited by CaMs on 06-30-2009 12:31 PM