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bobkat008
Joined: 24 Feb 2010
bobkat008's page
Posts: 1
35 Magic Points
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Subject: I agree I owe the debt but cannot afford to pay in full. Wha
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Wed Feb 24, 2010 4:16 pm
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| I had an account with HSBC bank. I defaulted because of several reasons, health, loss of income etc. They have turned the account over to Allied International Credit Corp. I absolutely cannot afford to pay the full amount which is $1400.00. I agree I owe the debt and want to work something out. They are demanding the full amount which I cannot do. Does anyone have any experience with them? Any suggestions on how to deal with them? |
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goodnatured
Joined: 03 Nov 2007
goodnatured's page
Posts: 3927
10 Magic Points
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Wed Feb 24, 2010 4:45 pm
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Usually when a collection agency gets a new debt they are pretty aggressive in trying to collect it, as time goes on they seem to get more cooperative, at least that is what I have experienced.
I do not have any personal experience with this particular company, so hang out, maybe some one will come along who has dealt with them directly.
Goodluck, hope all works out for you. |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
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Wed Feb 24, 2010 9:08 pm
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Hello, I really feel for your situation and know how stressful these collectors can be. Goodnatured is correct when she says once a collector first gets a debt they are really gung-ho on collecting. Here is one thing that may help settle your nerves. Many do not want to go to court and so the after a few harassing phone calls and they see you really can not do much they will hopefully calm down and work more with you.
Do you know if the CA is an internal one for HSBC themselves or if they actually sold the debt to them? If so I would get a debt validation letter in the mail (if they purchased the debt). Sometimes they buy the debt and not the proper paperwork to legally sue. Let us know what exactly you know about the collector. |
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Aaron
Joined: 08 Feb 2010
Aaron's page
Posts: 2675
48566 Magic Points
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Subject: debt settlement
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Thu Feb 25, 2010 7:58 am
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Hi bobkat,
What goodnatured and fireyone has said is true. The collection agency do not comply with a settlement agreement very easily. However, you can make a copy of your monthly income and expenditure. Then attach this copy with the hardship letter, that you can send to the collection agency.
When they will realize that it won't be possible for you to pay the amount in full, they may agree to your settlement plan, I think rather than getting nothing, they will agree to a settlement plan.
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bobkat
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Subject: also
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Thu Feb 25, 2010 6:49 pm
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| I also keep getting a statement from HSBC each month with a minimum payment. Do I send a payment to them or do I just deal with Allied |
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Aaron
Joined: 08 Feb 2010
Aaron's page
Posts: 2675
48566 Magic Points
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Subject: reply
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Fri Feb 26, 2010 12:29 pm
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Hi,
Your account has been handed over to collection agency. Thus, if you have no problem in dealing with the collection agency, you can deal with them. However if you want to deal with the creditor, you can ask them to pull back the account from the collection agency. Only if the creditor complies to your request, can you deal with them.
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