I would love to be able to go back to the original creditor (HSBC) and get this thng settled.

Please let me know.

Regards

Wayne Martin

What Law exactly says that so when I write my letter I can include it?

I too tried to call my credit card company and they said there was nothing they could do and I would have to contact the Collector.

The Collector told me he had power of attorney over the account also.

Please help I am running out of time.

I had credit cards , because of financial position iam not able to pay the banks, now all the collection agencies coming and torturing my parents when iam not in my residence , so please tell me what should i do to stop those tortures from collection agencies, is there any way to complaint about thse agencies

Call the collection company who owns your debt now, and offer a settlement for a reduced amount.

For a person who had to deal with one of the biggest unethical, uncaring SOB collection agencies in the country, you really need to tell people that if they settle on a lesser amount of the debt they owe, they will have to pay the balance in their income tax for that year. But a person really needs to check with their tax accountant/preparer to see how much tax they would have to pay on that balance and if it is beneficial for them to do so. Depending on how large the debt is versus paying half and having to pay taxes on the other half. Does it balance out and when it comes time to pay the taxes, will you be able to? Oh, and the collection agency will not tell you that if you settle for a lesser amount, the balance will be treated as income and you have to pay taxes on that unpaid balance. Collection agencies are ruthless people who shouldn’t be allowed to exist!!!!

I had to deal with the company I dealt with for over 4-5 years, with them calling me, harrassing me at home and work more than 5 times a week, sometimes several times a day from different employees leaving message on my home phone, threatening to sue me, calling my mother for my whereabouts, having to get a government attorney involved in telling them to stop calling me at work on government cell phones, etc. I probably have a good case to sue them, but don’t have the time and don’t want any more headaches in having to deal with them. I would never settle with them the first five years, but when it got down to around $3,000, I finally settled for half of that. When I came into some money about a year ago, I sent them a check through a debt management company I was dealing with for all my debts and they wouldn’t take it. They had the check in their hot little hands, but said because it came through the debt management company, they couldn’t take it. So I took the check back and told them where they could go and continued to make the monthly payments through the debt management company. Funny how they would take the monthly payments, cash the check, etc, but wouldn’t take the final payoff check. Owe, and I am in another class action law suite because of the debt management company I used and will probably get back half of what I had to pay the collection agency.