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Credit no-mans land


victimofcircumstance
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I need a little help. I've been searching this site for awhile but it seems that my situation is a little odd so I seek the advice of those who are very wise. By the way, thank you for everything you do. In this day and age of the golden credit score that can make or break you, I find it shocking to learn how many people don't even know it exists. You are the saviors of said people who usually find themselves in a jam and many people (creditors, credit repair, etc.) who are more than willing to take their money.

Here's my situation... I am in the Navy and went underway on a submarine. Since we have no contact with the outside world for months at a time, I set up automatic bill payment. Well, you guessed it. It wasn't so automatic. The problem was with Household Bank at the time and in the time I went away it was taken over by HSBC. I came home and a little bit later I have someone calling me looking for the payment that has been overdue for 3 months. Awesome. Best part is, l paid the guy every penny they wanted. I think it was a collector (NCB) but they would not admit they were. Either way, collections never showed up on my credit report. Here's where it gets sticky...

They put a 30/60/90 day late payment for September, October, and November on my credit and my score dropped about 100 points. Awesome. I called HSBC maybe a million times and finally got someone to budge. I think. The CSR told me that they would delete the late payments and mark my account "paid in full". They then sent me a letter on December 13 stating nothing about the late payments but saying they are reporting the account as "account paid in full". I signed constantly check my credit report waiting for the change. I haven't seen one, EXCEPT that the day after I talked to this guy my account status changed to "paid as agreed" on 2 of the 3 reports (still shows paid as agreed/was 90 days delinq on Equifax). So it's now January 18 and I'm getting anxious because timing here is horrible. I would like to buy a house in the next 1-2 months. I'm sitting on 3 dispute letters to send to the reporting bureaus. I called again and they said, "If you got the letter then just wait, the late payments will come off and your account will be marked paid in full".

My questions are these... 1) Does it sound like the late payments are going to come off? 2) Is it possible that the account was changed one day after I called the Customer Service and this is what my CR going to look like? 3) Should I dispute just in case, or should I just sit and wait? I would appreciate your thoughts, because like I said, timing is horrible and everyone knows how awesome it is to move in the military without knowing whether or not you're going to be able to buy a house or not at your next place (well, maybe not everyone, but I do-its not fun).

Thanks to everyone in advance and sorry for the long message.

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Unfortunately you need to put the active duty alert on your bureau reports before you leave on deployment to benefit from the new FCRA rules. Had you done that, they would not have been able to report the lates.

I recommend you write a good-will letter to HSBC's president (get his name from their public filings) asking him to intervene to correct the matter given your service to the country. CC a copy to your congressman. The credit industry is getting a lot of flak over their treatment of consumers, and especially our servicemen. A case like this is the kind of ammo our politicians are looking for.

By letting your congressman know that you've had this kind of trouble, it will put the executives at HSBC on the spot. Their patriotism would be questioned if they didn't fix this.

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Methuss is correct.

I was able to get a debt to my daughter's previous university forgiven, the associated CA acct and TL deleted simply by mentioning that she has just returned from Iraq where she was a combat medic......

It is AMAZING how gracious everyone suddenly became!

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  • 2 weeks later...

Thanks everyone. You guys truly are amazing. Anyway, I disputed the item and of course it was verified. I will write the goodwill letter as you recommended. Time to find the HSBC President's address... I'll let you know what has happened.

Has anyone ever emailed goodwill letters with success? Time is of the essence and as we all know email is the quickest way to get a reply.

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