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????
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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.
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