Problems with HSBC

[CreditCrisis]

I’m having problems with HSBC. They are reporting 4-5 different accounts on my report that are just one account reporting with a few different numbers and a different balance. These are really hurting my score, as I’m sure you can understand. The debts add up to something like… $3,000 and I have written them time and time again and even the CRA’s to validate it and no luck! It always comes back “verified” what do I do?!

[Trish]

What kind of accts are they? Charge offs?
And they are definitely duplicates?

[CreditCrisis]

umm... i dont think they are all charge offs....

They are definately duplicated. i only ever had one card with them. unless they did business under a different name also?


well here is an example:

39628
$1191
Open 06-2007

9000558
$350 Charge off
Open 09-2006

46630900
$1062 transfered
Open 09-2006

55511713
$791 charge off
Open 04-2006

54895551
No balance transfered
Open 04-2006

54895551
$1328 charge off
Open 04-2006

Totaling: $4,722!!!

And that doesnt include the account sold to Portfolio Recovery!

Now I think some of this account numbers just report differently depending on the CRA but none of the balances match and no information is really the same. And I even have a letter from HSBC for one of the trade lines that they admit reports incorrectly and would be deleted immediately. Its still on there! And I’ve sent copies of the letter to all three CRA’s!!!

HELP!!!

[Trish]

Man......those have to be hurting your score.
Since you've contacted them already and even have a letter, you should call them up. Try to speak to the person that sent you the letter first. Let them know about all of the accounts that are reporting and that they are duplicates.
Tell them you've been patient but it's becoming very frustrating because it is severely impacting your score.

You should let them know that if this isn't taken care of as quickly as possible, then you are going to file complaints and consult an atty. You don't have to be rude or hostile at all.........try to stay very light and "matter of factly"........but just let them know you think it's been long enough and this should have been taken care of.

If that doesn't get you any resolution........then you should start filing complaints.

[CreditCrisis]

i just noticed that they are also reporting account 39628 as a balance of $1,191 and it was sold to portfolio and that also report $1,191.
Where can I find the violation code for this so I can use it to back me up when I call?

[Trish]

The laws they are violating can be found in the FCRA.....and probably the FCBA too.
You will need to look through those (pdf format in the helpful links thread)
If you are just calling them, you really don't need to have actual statutes right now. Just let them be aware that they are violating the Fair Credit Reporting Act (I doubt they are going to ask for specifics at this point).

If it has to escalate any further than that (with complaints or an ITS letter) then you can cite the appropriate statutes in writing so that they know exactly what you are accusing them of.

[CreditCrisis]

okay but you reccomend to start by calling? i currently have an active, in good standing account with them too. its the secured credit card i just got. should i mention it?

[Trish]

Originally Posted by CreditCrisis

okay but you reccomend to start by calling? i currently have an active, in good standing account with them too. its the secured credit card i just got. should i mention it?

No, I wouldn't even mention it......it has nothing to do with the other acct.

[coldweatherMN]

Originally Posted by CreditCrisis

umm... i dont think they are all charge offs....

They are definately duplicated. i only ever had one card with them. unless they did business under a different name also?


well here is an example:

39628
$1191
Open 06-2007

9000558
$350 Charge off
Open 09-2006

46630900
$1062 transfered
Open 09-2006

55511713
$791 charge off
Open 04-2006

54895551
No balance transfered
Open 04-2006

54895551
$1328 charge off
Open 04-2006

Totaling: $4,722!!!

And that doesnt include the account sold to Portfolio Recovery!

Now I think some of this account numbers just report differently depending on the CRA but none of the balances match and no information is really the same. And I even have a letter from HSBC for one of the trade lines that they admit reports incorrectly and would be deleted immediately. Its still on there! And I’ve sent copies of the letter to all three CRA’s!!!

HELP!!!

I think this is a great one to take to a Consumer Advocate Attorney. Do some research and find one. Doing this on your own is going to be tough. I found a great Consumer Advocate Attorney in Minnesota who saved my butt. The balance I owed was approx $11,600. there was a judgement entered against me that was full of crap. Long story short... I paid the attorney $750 and I think I paid about $1300 to resolve the whole debt and get it all deleted from my CR -- well worth the money. but trust me - I'm all about doing this stuff on your own but sometimes you just can't.

Consumer Advocate Attorneys are a whole different crowd than these debt restoration scum bags.

[Trish]

ITA.....
There comes a point when you may not be comfortable doing it on your own. Especially if it could possibly save you money and/or get a TL deleted.

I have used an atty before because I was just not comfortable with filing a lawsuit on my own.
If at anytime, you think a consumer atty would be of benefit to you......by all means, check into it.