| Message |
Author |
 Posted: Thu Jul 10, 2008 9:15 am Subject: Questions about my HSBC account.. |
|
|
Hey there.. in the past I had a thread about two collection agencies. Since one is settled and down with, i didn't want to make it too confusing and add to the thread (it was kinda confusing as it was!) Here is my dilemma.. I owe HSBC money for a credit card. Nothing too major, maybe $500. ER Solutions has been calling and saying I have to pay them. I did pay them a few payments but they were accepting $25 a month.. : which was great but it turns out I was owed HSBC a late payment of $35 each month than insurance for them at $12. (One of those programs that gives you identity theft, and so on). I sent ER Solutions a DV letter a long time ago and have heard nothing from them. I still get bills from HSBC but they say they no longer handle my account. What should I do? I don’t want to make this worse and I’m so confused. If I am still getting charged late fees, does that mean HSBC still owns my account? They are not helping me at all over here.. Also, I would like to get out of the insurance program since the account is closed, I see no need to protect it. The card has been cut to shreads a long time ago. Any advice?
|
|
bea2ls
Joined: 27 Mar 2008
Posts: 708
Debtcc Points: 5616
|
|
|
| Posted: Thu Jul 10, 2008 4:23 pm Subject: |
|
|
Is the account absolutely closed with HSBC? When was it closed? Any fees for insurance should have canceled with the closing. Why wasn't the insrurance making the payments? isn't that what it is for?
Late fees should have stopped when the account was charged off.
_________________
Register today to cash in debtcc points.
|
|
Cellular
Guest
Debtcc Points: 100
|
|
|
| Posted: Mon Jul 14, 2008 7:05 am Subject: |
|
|
see, i don't even know if it is closed! HSBC isn't helping me any.. none of this even sounds right to me?
|
|
bea2ls
Joined: 27 Mar 2008
Posts: 708
Debtcc Points: 5616
|
|
|
| Posted: Tue Jul 29, 2008 6:13 am Subject: |
|
|
I once again recieved a bill from HSBC. I have been getting them every month (even when ER Solutions was still calling..). What should i do? I don't want to get sued over this but I don't understand where these fees are coming from! HSBC is no help at all.. they said they no longer have my account. But than why are they billing me, charging me interest and charging me my insurance fees? Should I put something in writing to them?
|
|
bea2ls
Joined: 27 Mar 2008
Posts: 708
Debtcc Points: 5616
|
|
|
| Posted: Tue Jul 29, 2008 8:54 am Subject: |
|
|
can you send the orginal creditor (HSBC) a debt validation (or similar type of letter)?
_________________
|
|
smo65d11
Joined: 21 Mar 2008
Posts: 739
Debtcc Points: 4656
|
|
|
| Posted: Tue Jul 29, 2008 8:57 am Subject: |
|
|
If you have disputed the account with the CRA's and HSBC verified, then the OP could request an investigation under sec 623 of the FCRA. HSBC would have 30 days to respond. From posts on other forums regarding HSBC though, they do not repsond well to anything other than litigation.
| Quote: | § 623. (a)( ABILITY OF CONSUMER TO DISPUTE INFORMATION DIRECTLY WITH FURNISHER
(A) IN GENERAL The Federal banking agencies, the National Credit Union Administration, and the Commission shall jointly prescribe regulations that shall identify the circumstances under which a furnisher shall be required to reinvestigate a dispute concerning the accuracy of information contained in a consumer report on the consumer, based on a direct request of a consumer.
(B) CONSIDERATIONS - In prescribing regulations under subparagraph (A), the agencies shall weigh--
(i) the benefits to consumers with the costs on furnishers and the credit reporting system;
(ii) the impact on the overall accuracy and integrity of consumer reports of any such requirements;
(iii) whether direct contact by the consumer with the furnisher would likely result in the most expeditious resolution of any such dispute; and
(iv) the potential impact on the credit reporting process if credit repair organizations, as defined in section 403(3), including entities that would be a credit repair organization, but for section 403(3)(B)(i), are able to circumvent the prohibition in subparagraph (G).
(C) APPLICABILITY- Subparagraphs (D) through (G) shall apply in any circumstance identified under the regulations promulgated under subparagraph (A).
(D) SUBMITTING A NOTICE OF DISPUTE- A consumer who seeks to dispute the accuracy of information shall provide a dispute notice directly to such person at the address specified by the person for such notices that--
(i) identifies the specific information that is being disputed;
(ii) explains the basis for the dispute; and
(iii) includes all supporting documentation required by the furnisher to substantiate the basis of the dispute.
(E) DUTY OF PERSON AFTER RECEIVING NOTICE OF DISPUTE- After receiving a notice of dispute from a consumer pursuant to subparagraph (D), the person that provided the information in dispute to a consumer reporting agency shall--
(i) conduct an investigation with respect to the disputed information;
(ii) review all relevant information provided by the consumer with the notice;
(iii) complete such person's investigation of the dispute and report the results of the investigation to the consumer before the expiration of the period under section 611(a)(1) within which a consumer reporting agency would be required to complete its action if the consumer had elected to dispute the information under that section; and
(iv) if the investigation finds that the information reported was inaccurate, promptly notify each consumer reporting agency to which the person furnished the inaccurate information of that determination and provide to the agency any correction to that information that is necessary to make the information provided by the person accurate.
(F) FRIVOLOUS OR IRRELEVANT DISPUTE-
(i) IN GENERAL- This paragraph shall not apply if the person receiving a notice of a dispute from a consumer reasonably determines that the dispute is frivolous or irrelevant, including--
(I) by reason of the failure of a consumer to provide sufficient information to investigate the disputed information; or
(II) the submission by a consumer of a dispute that is substantially the same as a dispute previously submitted by or for the consumer, either directly to the person or through a consumer reporting agency under subsection (b), with respect to which the person has already performed the person's duties under this paragraph or subsection (b), as applicable.
(ii) NOTICE OF DETERMINATION- Upon making any determination under clause (i) that a dispute is frivolous or irrelevant, the person shall notify the consumer of such determination not later than 5 business days after making such determination, by mail or, if authorized by the consumer for that purpose, by any other means available to the person.
(iii) CONTENTS OF NOTICE- A notice under clause (ii) shall include--
(I) the reasons for the determination under clause (i); and
(II) identification of any information required to investigate the disputed information, which may consist of a standardized form describing the general nature of such information.
and
§ 623. (b) Duties of furnishers of information upon notice of dispute.
(1) In general. After receiving notice pursuant to section 611(a)(2) [§ 1681i] of a dispute with regard to the completeness or accuracy of any information provided by a person to a consumer reporting agency, the person shall
(A) conduct an investigation with respect to the disputed information;
(B) review all relevant information provided by the consumer reporting agency pursuant to section 611(a)(2) [§ 1681i];
(C) report the results of the investigation to the consumer reporting agency;
(D) if the investigation finds that the information is incomplete or inaccurate, report those results to all other consumer reporting agencies to which the person furnished the information and that compile and maintain files on consumers on a nationwide basis; and
(E) if an item of information disputed by a consumer is found to be inaccurate or incomplete or cannot be verified after any reinvestigation under paragraph (1), for purposes of reporting to a consumer reporting agency only, as appropriate, based on the results of the reinvestigation promptly--
(i) modify that item of information;
(ii) delete that item of information; or
(iii) permanently block the reporting of that item of information. |
_________________
Texas Residents
All CA's are required to post a bond with the SOS
http://direct.sos.state.tx.us/debtcollectors/DCSearch.asp
When requesting Validation, reference the FDCPA as well as Chpter 392 of the TFC:
http://tlo2.tlc.state.tx.us/statutes/docs/FI/content/htm/fi.005.00.000 392.00.htm
|
|
NASCAR_Devil
Moderator
Joined: 20 Jun 2008
Posts: 1980
Debtcc Points: 9739
|
|
|
| Posted: Tue Jul 29, 2008 10:44 am Subject: |
|
|
Is that so? I know i was advised before to tell HSBC that ER Solutions is not validating and I don't know what to do.. I have paid ER in the past but I don't want to give them anything until they validate. HSBC is being shady anyway!
|
|
bea2ls
Joined: 27 Mar 2008
Posts: 708
Debtcc Points: 5616
|
|
|
|
NASCAR_Devil
Moderator
Joined: 20 Jun 2008
Posts: 1980
Debtcc Points: 9739
|
|
|
| Posted: Tue Jul 29, 2008 11:36 am Subject: |
|
|
i have to look at the report again, i thought it was charged off. i'll check again though.. it's funny that HSBC won't talk to me yet they still mail me bills and charge me their monthly fees...
|
|
bea2ls
Joined: 27 Mar 2008
Posts: 708
Debtcc Points: 5616
|
|
|
|
NASCAR_Devil
Moderator
Joined: 20 Jun 2008
Posts: 1980
Debtcc Points: 9739
|
|
|
| Posted: Tue Jul 29, 2008 2:05 pm Subject: |
|
|
What about sending HSBC a letter canceling the card and closing the account? Maybe that will stop the fees from adding up? Your right it doesn't make sense that they would still be charging you if it was out of their hands.
|
|
kelly91446
Joined: 29 Jul 2008
Posts: 5
Debtcc Points: 35
|
|
|
| Posted: Tue Aug 12, 2008 10:56 am Subject: |
|
|
thanks for the advice. i still have nothing new to update with this company. this is my last credit card to pay off (well, one of my last two but the other fell off the planet when i asked for a debt validation - i still have an eye-out though.)
I really want to pay them off because this is my last large balance than besides an evil payday loan with geneva roth, i will be debt free. i am considering debt consildation to get on a program? They seem to still have this debt. their collector dissapeared and when i talk to hsbc they say they won't help me. soo frustrating!
|
|
bea2ls
Joined: 27 Mar 2008
Posts: 708
Debtcc Points: 5616
|
|
|
| Posted: Wed Aug 27, 2008 7:23 am Subject: |
|
|
i still have nothing new to add but am still getting letters. i'm pretty sure HSBC still owns the account. ER Solutions has all but dissapeared. Someone once advised me to write to HSBC and tell them their collections never validated the debt. I don't know what to do, I really don't..
_________________
I hate being poor but it's getting a bit easier, thanks to many things I have learned recently online.  Check out my blog - I am trying to make money, save money and make a good budget to live on. http://www.needbetterdays.blogspot.com
|
|
bea2ls
Joined: 27 Mar 2008
Posts: 708
Debtcc Points: 5616
|
|
|
| Posted: Wed Aug 27, 2008 2:05 pm Subject: |
|
|
I am not sure if this is right, but I would wirte them a certified letter stating the fact that this account was closed as of xx date, but they are still sending bills so they must still own the account. I would also state that you have made calls and had gotten no help with this. Maybe offer them a settlement without the late fees and insurance (if you are able to do this) and see if they respond. Otherwise, if you call back, and they say they can't help you, request to speak with someone who can because you want this resolved. (I have had luck with this last approach) as I said, this is only an idea...
|
|
dalfire497
Joined: 14 Feb 2007
Posts: 12
Debtcc Points: 101
|
|
|
| Posted: Fri Aug 29, 2008 6:47 am Subject: |
|
|
Thank you for the advice. I'd love to settle, i might be able to, it depends on the price, i guess. i def want this settled before the holidays come along because it's my last big debt. i agree that they do still own the debt, but they don't take any collection attempts and they won't even speak to me.. i'm scared they're gonna set me up.
_________________
I hate being poor but it's getting a bit easier, thanks to many things I have learned recently online. Check out my blog - I am trying to make money, save money and make a good budget to live on. http://www.needbetterdays.blogspot.com
|
|
bea2ls
Joined: 27 Mar 2008
Posts: 708
Debtcc Points: 5616
|
|
|
|
NASCAR_Devil
Moderator
Joined: 20 Jun 2008
Posts: 1980
Debtcc Points: 9739
|
|
|
