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What are the consequences of ignoring a balance due on a credit…

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What are the consequences of...
What are the consequences of ignoring a balance due on a credit card issued from HSBC in Hong Kong? The balace due from HSBC has been sent to an outside collections agency in the Philipenes. The outside collections agency has negotiated internally that they will settle this bill with HSBC for a reduced balance and that they have cleared this reduced balance with HSBC. How do I know that this colelction agency is reputable? I spoke with HSBC this morning, but frankly, they would not help or I could not understand them. What should I do?
Submitted: 8 years ago.Category: Legal
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Answered in 17 minutes by:
6/17/2010
Lawyer: Ray, Lawyer replied 8 years ago
Ray
Ray, Lawyer
Category: Legal
Satisfied Customers: 48,804
Experience: 30 years in civil, probate, real estate, elder law
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Thanks for your question.They may seek to file some kind of collections suit here and seek judgment.They may continue to harass and collect any judgment they get .They are unlikely to go away.Just expect them to keep trying to collect on the outstanding balance.
Ray
Ray, Lawyer
Category: Legal
Satisfied Customers: 48,804
Experience: 30 years in civil, probate, real estate, elder law
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Customer reply replied 8 years ago
How do I make sure that HSBC has in fact asked this outside collections agency to act on their behalf? There are many scams in Asia and I want to protect myself.
Lawyer: Ray, Lawyer replied 8 years ago
I would contact them and verify that your account has been referred to them.Certainly this is reasonable for your protection.

The Hongkong and Shanghai Banking Corporation LtdThe Hongkong and Shanghai Banking Corporation - Hong Kong
Address:GPO Box 64,
Hong Kong,
1 Queen's Road Central,
Hong Kong SAR, China
Telephone: +852 2822 1111
Fax:+852 2810 1112
Telex:73201 HKBG HX
Website: www.hsbc.com.hk

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