OC: HSBC Bank Balance: $0 Pay Status: Charged off as bad debt Sold to another lender CA: Arrow Financial Services Balance: $792 Pay Status: Collection Account I recently sent a PFD letter to Arrow Financial. Considering that they accept my offer, or if I can settler for a lesser amount and have it listed as 'Paid in Full', how should I approach HSBC? Should I send a letter stating that I have paid the account, and ask to update their listing to paid in full? I guess I am confused about how to handle OC/CA when they are both listed on the CR.
The original creditor sold the account to a CA, so to contact Cap One is to no avail. You have to deal directly with the CA. What was Arrow's response to your letter?
They haven't replied yet, I am still waiting. I understand that I have to deal with them and not HSBC, but I guess my question is that once I get a result from Arrow, is there anything I can do to get HSBC to update or delete my listing?
After you have dealt with the CA - I would suggest validate letters and disputes with the CRAs on the OC account. The good thing is that at least there won't be another account showing on your credit report to tie back to HSBC - and HSBC sold the debt - so they legally can't show a balance. The computers will see the derog and its age, but shouldn't really ding you by too much with a $0 balance.
If the disputing and validation doesn't work, could I sent a letter and show proof that the debt was paid to Arrow and try to get HSBC to update to Paid in Full or delete the listing? I know it is a shot in the dark, but I just want to know what all my options are.
Hell all, Sarah did you have any luck getting the OC HSBC to remove? I also have both accounts but arrow agreed to delete......But Im still waiting for it to come off. Thanks
