Old HSBC card from Guitar Center in default

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Old HSBC card from Guitar Center in default

Postby neptunejcw » Mon Dec 24, 2012 10:40 pm

I had a old store credit card that I opened up in 02/2006....I was paying good on till about 2007 when my job cut my hours. Now it falls off my credit report 02/2013. In the past 2 months a collection agency just out the blue have been contacting me regarding the amount I owe. If I pay this off will it still fall off my report or will that HSBC account re-age on my credit report & stay for another 7 years. Or should I just wait the two months & let it fall off my report all together? & will I still owe the amount if I let it fall off?

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Postby kcarter609 » Mon Dec 24, 2012 10:42 pm

Tell them to stop calling you and don't bother with anything. It'll be gone in 2 months.

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Postby silver6054 » Tue Dec 25, 2012 11:02 am

kcarter609 wrote:Tell them to stop calling you and don't bother with anything. It'll be gone in 2 months.

It will drop off depending on the date of first default, but paying some will change the date of last change so probably don't want to do that.

But yes, you still owe the amount even if it's not on your credit report. Your state's statute of limitations determines how long they have to sue you for the debt, but once that has passed, you still owe it, just that their options to enforce are greatly reduced.

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Postby MemberSince99 » Tue Dec 25, 2012 8:51 pm

It may be that this debt is past the statute. If so, you can send them a letter instructing them to no longer contact you and if they sue you bring up the fact the debt is time barred in court as your defense. You should get proof of delivery, and if they continue to harass you after being instructed to stop, it's a violation of the law that you can in theory sue THEM for. I bet very few ever do, but that's what the law says anyway.

And once it is past statute, i wouldn't say their options to enforce are greatly reduced, I'd say they are non-existent. All they can do is ask you to pay - will you please pay us? Whatever you do, do NOT communicate with them or say something snide like sure the check's in the mail or something, that can be construed as you agreeing to pay and open the statute back up for another full X years allowing them to SUE you and get a judgement and garnish your wages. Simply hang up on them, using some choice words about the ancestry of the scumbag on the other end of the phone if you wish first. Tell him you're gonna send the sheriff to his office and have him hauled back to jail since you can hear he's been snorting coke from the euphoria in his voice. You can have some fun with it, or just put your phone down next to the stereo and let the gangster rap blare at ear splitting levels until he hangs up - walk away from the phone and hang it back up when you go to bed. Whatever you do do NOT promise anything that might restart the clock.

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