Okay I posted a previous post about ORCHARD BANK, but now I have another situation. I just viewed my credit report and this is what it says about my account with Orchard Bank (HSBC):
Transferred, closed/Account charged off. $344 written off.
Date Opened: 12/2006
Charge of as of 5/2008
Creditors Statement: Purchased by another lender.
Now on my report it also shows:
The bureaus inc (which I guess is the lender that purchased this debt from HSBC)
Status: Collection acct. $893 past due as of 10/2008
Original Creditor: Bureaus Investment Grp NO 15
Date opened: 6/2008
** Now my question is how is this possible??? The original creditor should be HSBC, right??? And it HSBC wrote off $344 than that is what I should be responsible for to make this debt go away, right??? Another thing how can it say that the date opened was 6/2008 when the account was opened in 12/2006????
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.