HSBC Financed junk car with no title
CS in Florida said: “I got a loan from Household in 1998 for $16000 for a car because my credit was not good. Had problems from the beginning with getting my payments credited properly. At one point toward the end of the loan period I received an offer from them to settle my account and receive the car title for a payment of $1500.00 because I had missed some payments. At the time I still owed, by my figuring, about $3000.00. I think the offer was a scam because I was never able to finalize it because the conditions kept changing.
By 2005 they said I owed nearly $7000. I believe they have unfairly inflated the amount I owe. I have repeatedly written to them at every address I can find to try to work out a settlement, but I get no response. They were using an automated system calling me every hour on the hour 8AM to 9PM every day even though I told them I would not discuss the issue except in writing. I refused to discuss it on the phone with rude collection agents. I had to change my phone number.
It has been 10 years now and I still have been unable to resolve this. I still have the car, which is now 12 years old and no longer runs, but no way to dispose of it without the title.”
Thinking of making a debt settlement offer? See common settlement scams and rip-offs first
