HSBC Household Finance live checks are orchestrated scam
RK in Arizona said: “In october of 2004 I cashed what is termed a “Live Check”. I had returned from active duty and was trying to restart my business. After not receiving a bill for the first payment in November I made an inquiry to find out about my statment. My first payment was due just 22 days from the beginning of the loan. That is just what they wanted. Charge a late fee, and they were home free after 18 payments I discoverd I had not payed down the loan.
In fact it is structured so pay off in full is the only way to make it happen. My gullibility as a borrower is obivious. Household Finance never sent me any loan statments on time. My checks (payments) were never posted even when I sent them 10 days prior, so Late pay’s added up. HFC did call to ask if I wanted more cash. I said no! The end result was they went completely around the truth in lending act. This all happend as an orchestrated scam. I intend to file a law suit this year.”
Thinking of making a debt settlement offer? See common settlement scams and rip-offs first
