ramchari,

I'm not sure with banks internal recovery you work for, but I can assure you that every agency in this country breaks collection laws every day on behalf of these financial institutions and rarely does a financial client cease business relationships with 3rd party collections.

Usually the bank clients don't even know (or don't want to know) how these agencies recover so much money so quickly and appear to be following the laws.

It will always be this way, except for the banks that require every phone call to be recorded and available to them to access immediately. Usually those clients will not have as much harassment of their customers but they will also recover less money because following the laws isn't profitable to these agencies.

Thank you. I will call HSBC tomorrow and report him, hopefully it will make a difference. But this guy was the definition of an A-hole. And i mean i don't mind listening to his argument if he was reasonable, but he wasn't at all.

Thank you for your comments.

I strongly suggest you contact HSBC and report Contact Resources and their treatment of you. I work for a bank in the recoveries division and get customer complaints everyday about the agency representatives. Believe me, we take every complaint seriously and the calls made by the agencies are listened by the managers. If the collector had used words like stupid or idiot or anything like that he or she will be fired, otherwise the agency will be suspended or even prohibited from doing business with the bank.

As mentioned by nameuser they cannot disclose information to a 3rd party. And the agencies cannot change your address on your credit bureau.

Different agencies get different "deals" from the bureaus for costs but they are hugely different when you are pulling thousands of Trans Unions and thousands of Equifaxes each month.

Trans Union $1-$2 each
Equifax $12-$15 each

These are the approx numbers I've heard from different agencies, equifax can get quite expensive, some places won't ever pull them.

For consumers though there is a huge difference. If you want your equifax or Trans Union, you can have one free each year from each credit reporting agency (they don't advertise this well on their websites because they want to make $$$ from you - go figure) By law they are required to provide you one copy per year of your credit information if you request them to do so. There is a form and you have to send some proof of identity and it takes longer their $20 internet version, but it makes sense not to pay for your own information that they are collecting on you.

Curious here.. Nameuser you indicated that it is more expensive to pull an Equifax report over a T.U report. Any idea what sort of costs are involved with either report?

No he can't lien your parents house. That's the stupidest thing that collector could say. In fact, there are just so many things wrong with your story that you can PM me regarding any further questions if they aren't answered here.

Check your Trans Union credit report, they usually will not pull an equifax because they're more expensive. If the agency pulled a trans union and HSBC provided your old address from when you opened the account, they may have pulled the bureau with your parents address and equifax picked up the information. Or Equifax hasn't updated your address from when you lived with your parents.

It doesn't really matter how they got the info or why the address is wrong, credit reports always have some kind of info wrong.

Regardless they could NEVER lien your parents house. It is a $600 balance, they wouldnt sue you for it and even if they did they can't lien a 3rd parties house. They can't even legally speak to 3rd partys.... ask the guy what 3rd party disclosure is....it's a very bad thing for agencies to do and well he went and did it.

So this is my situation. I had a line of credit with HSBC when I was doing my undergraduate degree. I paid off my account in April of 2007. The branch I paid my amount to closed soon after. About 6 months later, a credit agency calls asking for money. I ask for what? And they state that I have not paid my account and that a balance of $400 remains. So I go to look for another branch near where I live and they tell me that they have no records from the closed branch and wont' be able to verify anything. So after about 6 months of harassment, I finally ask them to take me to court, and after that the calls stopped.

Today, I receive a call from a guy that works at Contact Resource Service. He calls me and tells me that I'm stupid and that I am wrecking my credit. At first I was confused and did not know what he was talking about and then he tells me that I owe $600.00 on an HSBC LOC. I freak, I'm like that issue was closed off. So he tells me that he acquired this account from HSBC on the 13th of July. First he calls me leaves a message, and then I call him back and he calls me an idiot and tells me I don't know anything, I'm too young to know anything. I have an excellent credit history, and this issue has not ever given me a problem with my credit report. So I tell him to stop calling me and take me to court. He calls back as soon as I hang up and tells me that I'm stupid.

After talking to me, he calls my parents who live 500 km away and tells them that he is putting this debt on the deed to their house! I don't live with my parents, and haven't done so in 6 years. I'm 25 years old and work full-time as an engineer. He threatened my parents, so I called him back and told him he does not have the right to contact my family whom I am 100% independent from. He is like don't worry about it, this will be on the deed and I will call as many times as I would like because you really can't do anything about it.

As soon as I saw this, I went equifax and looked at my credit report. Something I saw astonished me, my current address got changed to my parents address, and my previous address now states my real current address. Is it possible for him to actually change my address to my parents address? And add this to their deed? I dont' want to pay for something I do not owe, I have great credit, but also a great deal of pride and refuse to let someone take money from me when I don't owe it.

What is the right process to get this guy off my back? First time I returned the call, I got his full name, division and phone number, I don't know how good it is.

The other thing I saw was, on my credit report it says my HSBC LOC is closed and paid in full. And their are no outstanding collections on any account. So I really don't know what I have to do to tell this guy to stop. Any help you guys can provide will be really useful.

Thank you kindly,