HSBC Watch News Release :: Alert - Possible HSBC Settlement Scams

Fri Oct 08, 2004 12:21 pm

I made a settlement agreement with a gentleman by the name of Eddie Anderson at HRS. Our agreement was a down payment of 500.00 on a balance arrangement made by him of 1298.00 and 6 month payments of 133.00 to pay off agreed balance beginning May 2004. This gentleman told my last payment would be in Sept. 2004. Which was a miscalculation on his part. My last payment would be October 2004.

He asked that I make one more payment of 133.00 for October which I did. Now he says that I need to make an additional 70.75 for finance charges because one of my payments was past the billing date. He says that if I don't come up with it by today, that our agreement will be null and void and I will owe the full original amount I had from the beginning.

I have sincerely made an effort to communicate with him by phone on a monthly basis. I have not slept for the past 4 nights knowing I will need to call him today without the finance charges he wants and that all I have done to be responsible will not have made a difference. I am deeply disturbed and concerned about this situation.

Sun Oct 31, 2004 8:54 am

Did you get this agreement in writing? If no, Household will probably pretend it never existed.

Do not be surprised that you can't contact this person. Some alleged tricks by them include:
1. Passing the phone to another customer service rep who then poses as someone in authority who can grant you these special payment arrangements, but in reality does not have the power to do so.

2. You might be told this person no longer works for them and/or has never been a Household employee. Therefore, anything they told you is null and void and can't be proven.

I realize this post is somewhat late to be of any help. Could you please update the board on what has happened with your problem? I am sincerely concerned over your dilemma.

Good luck to you.

Sun Oct 31, 2004 9:07 am

With any settlement offer, and whenever the lender displays predatory instincts, the terms should be faxed and/or mailed from the lender or their representative to the borrower.

It should be signed and dated. This protects the borrower and also brings mail and wire fraud into the mix if it is a scam.

Otherwise, unfortunately, the company is just running a scam to get what they can. Scams of this type are documented and have originated from:

Household - HSBC North America
CitiFinancial
Beneficial
Household Finance
The Associates

Even if you go to a business location it is imperative that the manager SHALL SIGN AND DATE the terms of the settlement.

Getting the proof is the main protection for the consumer. With no proof collectors simply say they are getting what you are obligated to pay according to the contract that you signed.

Let us know how this comes out.

Sun Dec 05, 2004 2:54 pm

GB in Texas wrote:

I made a settlement agreement with a gentleman by the name of Eddie Anderson at HRS. Our agreement was a down payment of 500.00 on a balance arrangement made by him of 1298.00 and 6 month payments of 133.00 to pay off agreed balance beginning May 2004. This gentleman told my last payment would be in Sept. 2004. Which was a miscalculation on his part. My last payment would be October 2004.

He asked that I make one more payment of 133.00 for October which I did. Now he says that I need to make an additional 70.75 for finance charges because one of my payments was past the billing date. He says that if I don't come up with it by today, that our agreement will be null and void and I will owe the full original amount I had from the beginning.

I have sincerely made an effort to communicate with him by phone on a monthly basis. I have not slept for the past 4 nights knowing I will need to call him today without the finance charges he wants and that all I have done to be responsible will not have made a difference. I am deeply disturbed and concerned about this situation.

I made arrangements with Household Credit Service (Household Bank) to make 3 payments of $129.00 for 3 months by bank draft and then my debt would be paid and closed.

Balance of this card was $664.49 and my total payments were $387.00. Now I am receiving nasty phone calls and they are telling me I still owe almost $600.00. They must be nuts. They have charged me again for an annual fee, which is for a card I do not want, I asked to settle, and to CLOSE.

Household is also charging me overlimit and late fees. It is all very unfair. The last phone call was from a woman named Lori Beckman and she was very rude and she threatened me that I will pay or else. This is very upsetting because I have tried, and I asked that this be settled.

The first person that I talked with, and made the agreement with, was a man named Christopher (he did not give me last name) who assured me that this matter was settled if I made the 3 draft payments which I did. Their phone number is 1-800-724-4964 or 503-293-4037.

I had open-heart surgery and do not need additional stress like Household International’s threatening phone calls, and wish you would investigate this matter for me. Thank you very much.

Summary: I made arrangements with Household Credit Service (Household Bank) to make 3 payments of $129.00 for 3 months by bank draft and then my debt would be paid and closed. Now I am receiving nasty phone calls and they are telling me I still owe almost $600.00. I had open-heart surgery and do not need additional stress like Household International’s threatening phone calls.

Fri Sep 30, 2005 10:06 pm

This is how I handled Household. Tell the people that if this matter is not cleared up right now to your satisfaction as was promised the next person you will be speaking with is the Attorney General of your state/region. It may take a couple of times calling Household, but when you do call make sure you know the Attorney General's name and phone number. It worked for me. Ours in Pa. has investigated credit card companies and won settlements against them. Good luck and take care.

DM in North Carolina wrote:

GB in Texas wrote:

I made a settlement agreement with a gentleman by the name of Eddie Anderson at HRS. Our agreement was a down payment of 500.00 on a balance arrangement made by him of 1298.00 and 6 month payments of 133.00 to pay off agreed balance beginning May 2004. This gentleman told my last payment would be in Sept. 2004. Which was a miscalculation on his part. My last payment would be October 2004.

He asked that I make one more payment of 133.00 for October which I did. Now he says that I need to make an additional 70.75 for finance charges because one of my payments was past the billing date. He says that if I don't come up with it by today, that our agreement will be null and void and I will owe the full original amount I had from the beginning.

I have sincerely made an effort to communicate with him by phone on a monthly basis. I have not slept for the past 4 nights knowing I will need to call him today without the finance charges he wants and that all I have done to be responsible will not have made a difference. I am deeply disturbed and concerned about this situation.

I made arrangements with Household Credit Service (Household Bank) to make 3 payments of $129.00 for 3 months by bank draft and then my debt would be paid and closed.

Balance of this card was $664.49 and my total payments were $387.00. Now I am receiving nasty phone calls and they are telling me I still owe almost $600.00. They must be nuts. They have charged me again for an annual fee, which is for a card I do not want, I asked to settle, and to CLOSE.

Household is also charging me overlimit and late fees. It is all very unfair. The last phone call was from a woman named Lori Beckman and she was very rude and she threatened me that I will pay or else. This is very upsetting because I have tried, and I asked that this be settled.

The first person that I talked with, and made the agreement with, was a man named Christopher (he did not give me last name) who assured me that this matter was settled if I made the 3 draft payments which I did. Their phone number is 1-800-724-4964 or 503-293-4037.

I had open-heart surgery and do not need additional stress like Household International’s threatening phone calls, and wish you would investigate this matter for me. Thank you very much.

Summary: I made arrangements with Household Credit Service (Household Bank) to make 3 payments of $129.00 for 3 months by bank draft and then my debt would be paid and closed. Now I am receiving nasty phone calls and they are telling me I still owe almost $600.00. I had open-heart surgery and do not need additional stress like Household International’s threatening phone calls.

Household HSBC Watch

Main Menu