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This afternoon I got a call from whatever collection agency HSBC uses saying that they are going to get in contact with their legal department to see what assets I have blah, blah, blah, and that when i do go to court i can't leave until i pay something blah, blah

I've been unemployed for a long while now because of health problems that just got resolved, and now this oh joy.

Is it a credit card you had through HSBC?

Sub: #1 posted on Tue, 08/12/2008 - 01:52


Yes it is

Sub: #2 posted on Tue, 08/12/2008 - 02:57


was it Atlantic Credit and finance Inc., or John P. Frye?

There the ones bugging me for an HSBC account that I had.

Sub: #3 posted on Tue, 08/12/2008 - 03:02


(Posts: 64 | Credits: 14.09)

Atlantic Credit and Finance

Sub: #4 posted on Tue, 08/12/2008 - 07:05


i had a loan with HSBC but was not able to pay for it because of our very difficult condition. i am aware that it is my responsibility to pay them back what i owe them but as ive said, i was not able to do it. will my case be forwarded in their legal department and will i be imprisoned for it?

Sub: #5 posted on Sun, 08/24/2008 - 15:28


Ging, you can't be imprisoned for not paying a debt. However, it might be forwarded to the legal department and they might decide to file suit. It they do and they win and get a judgment against you, they could garnish your wages, attach your bank account, and/or lien you property.

What type of loan is it? If it is a secured loan, they could also repossess your property. How much late are your payments?

Sub: #6 posted on Mon, 08/25/2008 - 02:26

alias1958 alias1958

(Posts: 1230 | Credits: 79.88)

Sounds as though you are soliciting business..options plus.

Sub: #7 posted on Mon, 08/25/2008 - 16:21


I just called HSBC and found my account has been sold to the same people. I looked at their website and it says they are *willing* to help their consumers. they own the accounts now HSBC has nothing to do with you/us anymore. I saw post on here were people were getting calls from the law office of James P Frye....without being contacted by the collection agency 1st!

So my question is, since the collection agency owns the account not and you have the law office calling you on behalf of the collection agency, can you C&D the law office and speak soley to the collection agency? The collection agency seems to be willing to help people where as the law office wants payment in full blah blah.

Should I call the collection company before they send me anything to try to work with them before the have James P Frye calling and demanding payment in full?

Sub: #8 posted on Thu, 08/28/2008 - 20:15


Just because they say they are willing to help does not mean they are actually willing to do so. Many claim to care about people and are willing to help, but this is just to make them look good. I am not saying all CAs are like this, I actually did find a CA that was not only willing and happy to validate, but who understood honest economic situations and someone????????s ability to pay and agreed to a very reasonable payment arrangement and even put it in writing...though personally this is the only one I have come across of many.

I have never been sued so I can't help you there but from dealing with other court things (like paying for a ticket) I have found a judge absolutely reasonable who will take your situation into account and more then likely set up a payment arrangement you can handle.

Don't let the CA or the law firm (remember some law firms act as CAs as well) scare you into anything; remember that you are human with very real pressures and a right to live. Be sure they fully validate, are completely licensed and/or bonded and have the correct amount. Then offer a payment arrangement you can afford and know you can stick I said I had a CA agree to $25 a month. Be sure to do the majority of this in writing so you have paper trail and proof. If they refuse to budge, let them take you to court and then show the judge your efforts to try and deal with the situation as best you were able. As I said, the judge will take your situation into account and will work with you where a CA will not???????.you might even be able to get the judge to waive the legal fees (and counter sue for your legal fees) based on the fact that the CA refused to even consider working with you..I have seen THAT happen before. (I sat in on a few court cases).

Sub: #9 posted on Thu, 08/28/2008 - 21:19

goldenbast goldenbast
Moderators Cum Industry Expert
(Posts: 2885 | Credits: 380.48)

Well I got the collection agency information wrong. HSBC sold it to National Enterprise Systems and they are the ones threating to sue, and I have no idea how to deal with them.

Sub: #10 posted on Thu, 08/28/2008 - 21:39


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