ohnowwhat

Dismissed with prejudice not liable whats the point?

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In 2013 I was sued by Cavalry from an HSBC card I had no idea about from 2008. Only reason I even found out was I got junk mail from an attorney saying we noticed you where being sued here is our info if you need help. I was crazy confused. The week before DH left for a year long deployment the day he left, that night my father died. Basket case I was and had never had any legal issues before. I did hire an attorney and the case was dismissed with prejudice also stating a release on all liability for account. OK well I was ok with this but not understanding it completely however I had other issues to deal with. Two of the CRA had been reporting this HSBC account as in collections with a trade line (just found out what that meant) also stating as derogatory charge off. I contacted Cavalry who gave me a date of April 2013 when it reported to them the status and deleteion of account. However just this past month when I disputed with the one CRA the tradeline was gone. However I have proof that HSBC reported on it for three years. My question is what in the world is the point of this judgment if it still reports and charge off collections and negative?  Seems like I would have rather taken my chances proving my case to get it off my report but silly me assumed that the whole point of that was to clear it up. So basicaly all for nothing but the chance of not being sued again and that was not exactly my concern well yes it was but more so having it not negative on my CRA . Thoughts? 

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Here's the thing, you didn't win a dismissal against HSBC.  If you truly did have an HSBC card that they charged off and sold/transferred to another lender, they are allowed to report it as such. 

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On ‎2‎/‎8‎/‎2016 at 11:56 AM, ohnowwhat said:

"... sued by Cavalry from an HSBC card... from 2008...the case was dismissed with prejudice also stating a release on all liability for account...reporting this HSBC account as in collections... what in the world is the point of this judgment if it still reports and charge off collections and negative?...   the whole point of that was to clear it up..."

Had to edit like crazy to understand but think I'm following you now. 

1) Original HSBC collection/charge off account

2) sold or transferred to Calvary

3) Lawsuit filed but dismissed

These are three separate aspects.  They would rightfully show as three different entries, now two since the suit was disposed of in your favor.  Thinking that you can deal with one and that all others would automatically be included is customary.  But the lawyer you engaged did what you paid him for, he got the lawsuit dismissed.  There is no reasonable expectation that he would know to cover the HSBC or Calvary tradelines.   They are, to the best that credit reports can reflect, what actually happened with this account.  They both should have a zero balance to be accurate.

That being said, it's well worthwhile to write some letters of dispute to see if these can get shielded from view.  Be aware that if your dispute is unsuccessful, the update of the Last Reported Date may cause a decrease in your score.  If you don't plan on opening any new credit accounts soon, then give disputing a chance.

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As @usctrojanalumpointed out, the court's dismissal of the lawsuit with Cavalry has nothing to do with HSBC's entry on your CR.  

However, since HSBC no longer owns the account, it's last reported date cannot change.

In regard to Cavalry, it might depend upon what was stated in the dismissal as to whether or not it can continue reporting.

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My suggestion would be to forget about the court case, that was only dealing with Cavalry.  I would focus very carefully on the HSBC tradeline.  I would look to find any possible errors in their reporting.  As soon as I see a single little error I will dispute it with the CRA as inaccurate.  If the CRA verifies an inaccurate TL, then there are other legal steps you can take, but that is my starting point.

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I agree with @fisthardcheese.   If anything at all is inaccurate, dispute it.   That would have nothing to do with the last reported date.

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