Sneaky sneaky...local phone exchange so I pick up....

[nickifan]

I still learn new things...as I am looking for work and of course don't know the number of places I've applied to that might be calling, I do tend to pick up the phone when it's a local exchange.

So I just got fooled. While I would not pick up a Caller ID that said "United Recovery Systems" I did pick up a local call...and that's who it turned out to be. Turns out HSBC has already turned my account over to them, and she wanted to verify that I am "refusing" to pay. I told her it's a matter of perspective if I "Cannot" pay, and that's what it is. I asked where I should call now "when my situation changes and I want to ask about payment plans" and oddly enough the local number is not the one she gave me. <g>

I confirmed address et al but when she wanted to "update" other info I said she has all the info she needs and hung up. Before that she did say she only had "a period of time" to work something out with me, which I suppose is the veiled threat of sending it on to lawyers.

Anyone else dealt with them and/or HSBC at the almost-four-month late mark?

[scsurfer]

I settled a 3K unsecured card with HSBC for 50% settlement in 3 payments. The lady I spoke with when doing this was working the "120 day" desk. She would've had the account for about another week (if I didn't settle) and then it would've been charged off and sent to a CA. I think they gave me some extra time since I've had the card for 5+ years, always had a balance so a payment was made every month on time until I stopped paying in 12/09. They had sent me 2 settlement offers (via mail) over the previous months, one for 30%, one for 40%, before we settled on 50% last week. I'm happy with how things turned out on this one, now on to the next card.....

[MSbklawyer]

I settled a 3K unsecured card with HSBC for 50% settlement in 3 payments. The lady I spoke with when doing this was working the "120 day" desk. She would've had the account for about another week (if I didn't settle) and then it would've been charged off and sent to a CA. I think they gave me some extra time since I've had the card for 5+ years, always had a balance so a payment was made every month on time until I stopped paying in 12/09. They had sent me 2 settlement offers (via mail) over the previous months, one for 30%, one for 40%, before we settled on 50% last week. I'm happy with how things turned out on this one, now on to the next card.....

Why settle for 50 if they had offered you 30 and 40? Oh, you mean 30 off or 40 off?

[scsurfer]

Why settle for 50 if they had offered you 30 and 40? Oh, you mean 30 off or 40 off?

yeah first 30 off then 40 off then 50 off.

one thing to consider if playing this game is that the total debt when offered a smaller amount off settlement will be less than the total debt when offered a larger amount off a couple months later after all the fees, interest,etc have been added. You have to do the math.

[GoingDown]

You'll be getting a 1099-C in the mail next year from the fine people of HSBC.