I live in Michigan. I had a HSBC Bank credit card charge off about a year and a half ago when my husband lost his job and had to file chapter 7 bankruptcy (he filed, I didn't file with him.) We are in a better situation now and are able to pay. My primary concern at this point is getting the best credit reporting that I can out of this situation.
Yesterday, I got a call from IDT Carmel, who purchased the account quite a while ago from HSBC. HSBC has a chargeoff/sold to another lender tradeline on my credit report, and IDT Carmel hasn't put anything on my credit report whatsoever. I informed the IDT Carmel representative that we were interested in negotiating on the account if the HSBC tradeline would be removed, or changed to "closed, paid" with the remarks removed about being late on monthly payments or chargeoff, that we could pay the balance. The representative told me that the HSBC tradeline would be changed to "closed, paid", and all payment history would be removed. As a followup, I asked that he understood I was talking about the HSBC tradeline -- even though he was with IDT Carmel. He said he did.
I sent an email to his supervisor with my understanding of what would happen, so I could have her send back to me an email saying this was all the case, and at least have something in writing.
Today I got a phone call from the original representative saying that their procedures just changed (sure they did) and that they would send us a legal paid in full document, that we could forward to the credit bureaus, and that document from IDT Carmel would get the HSBC Bank tradeline fixed like I wanted it.
Since the letter would be from IDT Carmel, the credit bureaus are going to laugh at me when I try to use the letter to change HSBC Bank's tradeline, right?
Is there anything I can do with IDT Carmel to ahve the HSBC Bank tradeline improved somewhat?
Anything else I can do?
They're offering an 80% settlement. I am willing to pay all of it if it improves my credit score, otherwise I'll be asking them for a lot less.What is the name of your state (only U.S. law)?
Yesterday, I got a call from IDT Carmel, who purchased the account quite a while ago from HSBC. HSBC has a chargeoff/sold to another lender tradeline on my credit report, and IDT Carmel hasn't put anything on my credit report whatsoever. I informed the IDT Carmel representative that we were interested in negotiating on the account if the HSBC tradeline would be removed, or changed to "closed, paid" with the remarks removed about being late on monthly payments or chargeoff, that we could pay the balance. The representative told me that the HSBC tradeline would be changed to "closed, paid", and all payment history would be removed. As a followup, I asked that he understood I was talking about the HSBC tradeline -- even though he was with IDT Carmel. He said he did.
I sent an email to his supervisor with my understanding of what would happen, so I could have her send back to me an email saying this was all the case, and at least have something in writing.
Today I got a phone call from the original representative saying that their procedures just changed (sure they did) and that they would send us a legal paid in full document, that we could forward to the credit bureaus, and that document from IDT Carmel would get the HSBC Bank tradeline fixed like I wanted it.
Since the letter would be from IDT Carmel, the credit bureaus are going to laugh at me when I try to use the letter to change HSBC Bank's tradeline, right?
Is there anything I can do with IDT Carmel to ahve the HSBC Bank tradeline improved somewhat?
Anything else I can do?
They're offering an 80% settlement. I am willing to pay all of it if it improves my credit score, otherwise I'll be asking them for a lot less.What is the name of your state (only U.S. law)?
