Short of HSBC suddenly losing all record of your account or disappearing entirely, Apex is right about their trade line not going away. Considering that this is an almost 5-year-old record, it's effect on your FICO is somewhat diminished, probably significantly diminished. It might be best to hold this discussion until you have paid-down the balances on the other open accounts. I'd wait and see what effect the a lower usage ratio has on the numbers. Remember, though, FICO sees zero usage in a light some different from what the consumer might expect. Going to zero may not give the expected bounce. Their model is gaging how credit is used, not rating on how much credit you have. A steady 20-30% usage rate with a reasonable turnover is what is rewarded most.
I'm trying to get HSBC on something here. Did they re-age my account? See the "date reported" column. Account was charged off in May 2007. Also, the charge off amount is showing $0. Does anyone see anything here I can try and catch them on? I'm thinking those two, but I would like some advice from the experts. Account Number: Current Status: CHARGE-OFF Account Owner: Individual Account. High Credit: $11,021 Type of Account : Revolving Credit Limit: $0 Term Duration: Terms Frequency: Monthly (due every month) Date Opened: 2003/02 Balance: $0 Date Reported: 12/2007 Amount Past Due: $0 Date of Last Payment: 10/2006 Actual Payment Amount: $0 Scheduled Payment Amount: $0 Date of Last Activity: 11/2006 Date Major Delinquency First Reported: 05/2007 Months Reviewed: 52 Creditor Classification: Activity Description: Transfer/Sold/Paid Charge Off Amount: $0 Deferred Payment Start Date: Balloon Payment Amount: $0 Balloon Payment Date: Date Closed: Type of Loan: Credit Card Comments: Consumer disputes after resolution, Charged off account
The date reported you are referring to is, "the date major delinquency first reported". It is what it says it is. In May 2007, Hhld first reported your major delinquency of 11/06. Its really a non-date. It didn't reage your account.
What does that matter? You buy something for something and that matters to whoever you bought it from? No.
You DO NOT pay collection agencies/junk debt buyers that cannot prove they bought the right to receive payment.
No, actually it doesn't. There are equitable concerns and certain defenses which can preclude windfall recoveries that unjustly enrich these monsters.
