• Report: #991912

Complaint Review: HSBC

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  • Submitted: Sat, January 05, 2013
  • Updated: Sat, January 05, 2013

  • Reported By: Bridgeportillinois — Bridgeport Illinois United States of America
HSBC
PO Box 17051/88000 Baltimore, Maryland United States of America

HSBC Household Bank You will never have credit again. Baltimore, Maryland

*Consumer Comment: A bit dramatic but....

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From what I've studied and investigated, HSBC went and purchased all accounts from Gold MasterCard Orchard Bank, Chase Bank, First Premier Bank to many to account for. When you pay off the Cards they sell it to another collection agency such as Portfolio Recovery Associates, ARM Enhanced Recovery Corp, this goes on and on you never get done paying these people, our credit is ruined for life this reporting never goes off your record. And after it hits the collection agency you are finished because it never goes off your Credit rating, never. The collections are just put on hold for 3mths then someone anyone can pick-up the account and start working it again, even though you have sent them FDIC bank statements where I payed them off years ago, and if they dont get any money out of you by calling your job or just trying to straighten up your credit so you can buy a home. This all happen in 2006 it is 2013 and still this continues today 7 cards with a credit limit of $300.00 that's right three hundred dollars, and I can prove they have been cut up put in to a envelop attached to the file closed out in 2006 and payed to different credit collectors three and four times plus there fee for collecting on the accounts which is always twice as much as the card was, there is no limit on what they can charge you for a collection fee, I know because I worked for a collection agency for three weeks 15 years before I got married, I got fired because I wasn't cut out for it is what they said when they fired me, I didn't even make it long enough to get my first check it had to be sent to me. I am begging someone anyone to help us before my husband or I loose my job again because of the collectors calling our jobs. Please Please help us, I'm begging!


This report was posted on Ripoff Report on 01/05/2013 03:40 PM and is a permanent record located here: http://www.ripoffreport.com/r/HSBC/Baltimore-Maryland-21297-1051/HSBC-Household-Bank-You-will-never-have-credit-again-Baltimore-Maryland-991912. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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#1 Consumer Comment

A bit dramatic but....

AUTHOR: Robert - (U.S.A.)

If you are telling the 100% truth you may actually have some recourse.

The first thing is you need to be aware of the Fair Credit Reporting Act(FCRA), and the Fair Debt Collection Practices Act(FDCPA). 

By law a negative item can only remain on your report for 7 years from the last action(actually it turns out to be about 7.5 years from the date of the first delinquency).  It doesn't matter how many times your account is sold or transferred..this date can not be re-aged on it's own.   The little "Gotcha" in this is that if you do anything such as make a payment it could re-age the account and start the clock again.  So if you have done no actions(such as a payment) depending on when in 2006 this happened, by Mid-2013 to Early 2014 these items MUST by law be removed from your account.  If they show up again..you have the legal right to have them removed.

You need to look at your credit report and find out who is reporting this.  You then must send them a "Debt Validation Letter".  This requires them to "validate" the debt.  If they fail to validate the debt within 30 days, again by law you can have it removed from your credit report and they can take no action against you, until they do validate it.

But there is no such thing as an FDIC Bank Statement.  Do you have anything in writing from these other companies that said that the account was paid in full?  If you just have your bank statements showing you made a payment that unfortunately is NOT proof that it was a)for that account and b)that the amount paid it in full.

If you have proof..go after them and look at the remedies in the FCRA and FDCPA that would allow you to file suit against them.  If you don't have proof of payment then start that now.  DO NOT talk to them on the phone, only send letters through the mail.  DO NOT pay them a single dime until you have an agreement in writing that says the amount you will pay..pays the account in full.

Yes I know this is a lot of general items, but if you take a look at the FCRA, FDCPA, and "Debt Validation Letters" you may find your situation is not as hopeless as you think.

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