HSBC Bank / Capital 1 Bank HSBC Lied about payments made, claimed charge off / Then sold my account to Capital 1, then Capital 1 sold account to Portfolio Recovery Associates which is a collection agency. HSBC is in NY and Capital 1 is in Texas, Nationwide

I opened account in 2008 and everything was fine. I asked them to close the account so I would not use it. I knew that I would still have to pay interest which was fine. I wanted to clear out my small amount of debt which was $14,000.00 and this was the only way I could think without ruining my credit was to stop relying on credit cards.

Recieved statements with the payment amount due every month and paid them first by check and then by Bill Pay though the Boeing Credit Union. Everything was fine until Capital One bought HSBC then I did not recieve any statements and I still sent payments in to them by way of Bill Pay. ThenCapital 1 sold it to Portfolio Revovery and then I find out that HSBC charged this off.

Now I ask you this, (My Balance was over $6,000.00 on this account. I had bought a samll truck for my son and had 2 books published and some small other stuff.) It is now down to $1,900.00 so where did this money go if not toward the bill?  I never filled a Bankruptcy on this account or any other. They sure can LIE about stuff. Get it is common with American Corps.  Do Not trust Them.

I think what the U. S. Banks have done to people is a shame especially after the Govenment bailed them out. To treat people this way, you don't go back for more.

I rreally don't care any more as I am selling my $400,00.00 house, buying a 50 ' sail boat out of Canada and putting the rest of the money between 2 credit unions. I won't need banks to help me in old age.  I can also see why so many Americans live abroad.

This entire report makes no sense.

First of you can not "close" an account with a balance.  Until the balance is zero the account is still open and you are still subject to the same terms such as Interest Rates, Fees, and Minimum Payments.

Next, the only way HSBC would know anything about a Bankruptcy is if your son listed your account on his Bankruptcy declaration.  Which if that was done in error because he wasn't on the account, he or his attorney should have worked to correct it.

Then just a bit of history.  Capital One bought out several HSBC Credit Cards so you went to Capital One along with thousands of other account holders. (BTW I am one and did not have an issue).  If you failed to pay per the terms Capital One would send you to collections.

But the biggest mystery in this is your actions(and lack of).  This is now 7 years later and you are saying that for the past 7 years you are making a monthly payment to the credit card.  Okay where did the payment go?  At anytime during the 7 years did you verify that you are paying it to the right location?  Did you ever get a statement to show what your payment was due?  As what if you were not paying the minimum due?  Did you ever once verify with them that they were getting the payments?

Yet, only now you are complaining about it?  The reason this is important is because if the account was truly charged off in 2008 and you in fact never made a payment since then, you are just months away from it falling off of your credit all together.  As per the FCRA a negative item such as a charge-off can only remain on your credit for 7 years(actually due to timing it works out to about 7 1/2 years) after the last action.