ShortBus Posted November 3, 2007 Report Share Posted November 3, 2007 Had a Best Buy CC (HSBC) account that was sold to collections in Dec. of 2001. As a result, I have a TL from both HSBC and the CA on my CR. I attempted to DV the CA about two weeks ago but they responded with a "Nice try, but it's been too long to DV us, please pay" letter.Rather coincidently, the SOL on the account is up next month. I plan to use this fact to negotiate a pay for delete in January. However I was wondering if this would also remove the OC's TL too? Link to comment Share on other sites More sharing options...
willingtocope Posted November 4, 2007 Report Share Posted November 4, 2007 Paying a CA will have no effect on the OC's TL. On the other hand, paying the OC will force the CA to remove theirs. Link to comment Share on other sites More sharing options...
ShortBus Posted November 4, 2007 Author Report Share Posted November 4, 2007 Cool. Thanks for the info.Would you recommend that I just string the CA along until the SOL expires and then send a PFD offer to the OC? (Original balance was around $650. With the CA's nebulous fees, it's about double that now). Link to comment Share on other sites More sharing options...
merkurfan Posted November 4, 2007 Report Share Posted November 4, 2007 if the account was sold, as it looks like it was, HSBC won't take your money. They are not owed anything. Link to comment Share on other sites More sharing options...
willingtocope Posted November 4, 2007 Report Share Posted November 4, 2007 You do need to be absolutely sure you know who and what you're dealing with. You said "sold to collections"...CAs don't buy debt....junk debt buyers (JDB) buy debt...and JDBs sometimes have CAs working for them.Unless your CRs say "sold to another lender" and the balance is $0 on the OC's TL, then the OC still owns it. If that's the case, the CA is working for them and you can still pay the OC after the SOL with a "if you want your money, you'll delete your TL" type approach.On the other hand, if it has been sold, then paying the JDB will NOT affect the OC's TL. Link to comment Share on other sites More sharing options...
ShortBus Posted November 4, 2007 Author Report Share Posted November 4, 2007 Ah. Thanks for clarifying. Yes, it does say "Transferred to another lender" with a zero balance on the OC's TL.Odd though... EX: DLA with the OC is Dec 2002. The TL for the JDB doesn't show.TU: OC DLA is Dec 2001. TL for JDB not listed.EQ: OC DLA is Dec 2001 and Jun 2002 with the JDB.What's going on? Are they re-aging it? Assume that the OC has no interest in dealing with me right? They've already gotten their tax write off and wouldn't even consider a PFD. Link to comment Share on other sites More sharing options...
willingtocope Posted November 4, 2007 Report Share Posted November 4, 2007 Not all OCs / CAs / JDBs report to all CRAs. It does cost them money.And, its the DOFD that's critical. That's established by the OC and should not change with the JDB. If its not listed (or not the same) you can dispute it as "inaccurate" with the CRAs.And, once its been sold, the OC has no further interest. In theory, "sold to another lender" in itself, doesn't hurt your scores much. Any "lates" prior to it being sold might.Paying the JDB will not affect the OC's TL. Link to comment Share on other sites More sharing options...
merkurfan Posted November 5, 2007 Report Share Posted November 5, 2007 "Paying a CA will have no effect on the OC's TL. On the other hand, paying the OC will force the CA to remove theirs."So, I have a CA that won't PFD. I offered the oc (who is not reporting) a NDA they ignored. They have a automated payment system. If I can get the OC's payment system to accept the payment (I have good reason to think i can) and obtain a conformation number for the payment this would force the CA who IS reporting to remove from my reports? Link to comment Share on other sites More sharing options...
willingtocope Posted November 5, 2007 Report Share Posted November 5, 2007 I'm not sure "force" is the right word. If you no longer have a debt that they're collecting, then they may remove it...or, they may just mark it "paid collection". You might even have to go to court and sue them from the "I never had a debt with you" standpoint. Link to comment Share on other sites More sharing options...
merkurfan Posted November 5, 2007 Report Share Posted November 5, 2007 since it's a legit debt, mine, and well within SOL, I might as well pay um and try that angle. I'll just pay it and dispute the TL, if they verify well then. viloation Link to comment Share on other sites More sharing options...
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