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Anne
Anne, Master Tax Preparer
Category: Tax
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Experience:  Enrolled Agent with 25 Years Experience specializing Individual and Small Businesses
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i had a debt in 2005 with hsbc/capital one to shorten the whole

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i had a debt in 2005 with hsbc/capital one to shorten the whole subject i received a debt cancellation from them in 2011 1099c which i then declared it as income on my income tax paid taxes on it. now i receive an letter from a different company asking for payment of that debt cancellation but a much higher amount they added interest same account number as original debt should i send a copy of the debt cancellation 1099c to them to stop them further harassing me.
Submitted: 1 year ago.
Category: Tax
Expert:  Anne replied 1 year ago.

Anne :

Hi

Anne :

Thank you for using justanswer

Anne :

I would not send them a copy of the 1099C

Anne :

I would first verify that this is from the HSBC bank............and you will have to have HSBC bank contact them......(this works best if you have 3 way calling)

Anne :

HSBC is the responsible party for turning this debt over to the other company, and the fact that they took a lesser $ amount for settlement will have to come from them

Customer:

hsbc bank sort of went under they were part of capital one after the sent me debt cancellation talking to hsbc/capital one was like talking to a wall they either played dumb but could not get it. i oriinally sent them copy of debt cancellation proved i paid taxes on it i finally did not hear from them again till now this company must have bought the acct. they will never understand i had the debt canncellation they gave me but to a deaf ear. can this new company do anything. i am so tired going through this for over a year back and forth to a deaf ear.

Anne :

I can TOTALLY relate............

Anne :

You can always try...............you may have to place more than 1 phone call before you find someone that is willing to do the back research...................

Anne :

I finally had to hire an attorney (not for HSBC) but a very similar situation

Anne :

My people dogged me for 10 years

Anne :

We paid it...........but it kept getting "sold"

Anne :

you have to stop this BEFORE it gets sold again, or you'll have to deal with whoever they sell it to next

Anne :

Fair? Absolutely NOT

Anne :

You might try refuting the information through the credit bureau

Anne :

Sometimes people have better luck using that route

Customer:

HSBC sort of went under they had trouble with the federal governmant for things like this and many other capital one then completely took over ti he accounts of hsbc this actually has been going on since the accoun t was closed in 2007 i cant afford an attorney did talk to one in 2010 but I did talke to credit bureau only one that doesnt get it is experian. you would be surprized i tried talking mailing sending paperwork to them but to a lost cause. can the new company take me to court.

Anne :

If they, in good faith, really believe that you owe the debt, then worst case scenario can take legal action

Anne :

We wound up sending proof of payment to EVERY company that it got sold to............but for some reason, they never removed it

Anne :

I don't think HSBC itself went under...........its one of the largest banking institutions world wide

Anne :

let me see what I can find on them

Anne :

They have a customer service phone #(NNN) NNN-NNNN/p>

Anne :

You can find other numbers at this web site:

Anne :

http://www.us.hsbc.com/1/2/home/customer-service

Anne :

Unfortunately, you really need to start with them, because they're the ones that "sold" your account

Customer:

d they closed there offices and it was in the newspapers capital one was part hsbc then eliminated hsbc on their letterhead i was told they no longer were involved.so i sent capital one all the paperwork to ne evail they somewhat ignore a 1099c

Anne :

One of my colleagues thinks that you need to show that the debt was truly forgiven ... and there's no better way to do that than sending a certified dispute letter with a copy of the 1099C

Anne :

He also thinks that you should include in the letter that it is an invalidation of the Fair Debt collection practices act to continue to try to collect a forgiven debt.. Supreme court calls it a "campaign of harassment"

Anne :

However, I can tell you that none of that worked for me..............as I stated before, I ultimately had to hire an attorney

Customer:

i talked to them had other people talke to them they just couldnt understand i was living all day all night talking mailing till i coundnt take it any more then i didnt hear anything again for 8 months till now. i wll try that but where do i send it hsbc they who can do that i would need somebody who can word it right and sound official. thank you so much i will copy this page and try that you are wonderful ok i let you know what happens Anne

Anne, Master Tax Preparer
Category: Tax
Satisfied Customers: 1922
Experience: Enrolled Agent with 25 Years Experience specializing Individual and Small Businesses
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Anne
Anne
Master Tax Preparer
1903 Satisfied Customers
Enrolled Agent with 25 Years Experience specializing Individual and Small Businesses