HSBC Watch News Release Forum Index
Forum Name: - HSBC Finance Corporation
Topic Title: Am I a victim too?
Tue Apr 19, 2005 3:11 pm
I think that I am a customer who has experienced predatory lending practices by HSBC. How can I know for sure, and if so, what can I do about it?
Wed Apr 20, 2005 7:15 am
Have any of these issues happened to you?
The consumer receives their first bill, only to find out they already have past due fees and late charges, plus a higher interest rate.
The consumer never receives a bill after opening an account.
The consumer may receive a bill at their correct address in months 1-11, then the apartment number or zip code is wrong in month 12.
The consumer may return a product but never receives acknowledgement from HRS.
The consumer files a change of address and it never goes into effect.
The consumer may receive their bill late in the final month, but cannot respond in time to pay it, thus resulting in the total interest due.
The consumer may subscribe to the "secure plan" insurance but the insurance is not honored.
The consumer may close an account but the account is not reported to the credit reporting agencies as closed.
The consumer may pay off an account but it is not reported a paid off.
The consumer may pay off an account but the account is incorrectly reported as a chapter 13 bankruptcy.
An incorrect HRS entry on a credit report may be removed, only to reappear the following month.
The consumer may find the same account reported differently to all 3 credit reporting agencies.
Interest accrues at a rate which precludes getting a final payoff to HRS before more interest is added to the account.
The consumer is charged for past due fees, late fees, and insurance.
The consumer is given an assurance from customer service but nothing happens and the account is not adjusted.
The consumer account is sent to research but nothing happens and it never comes out of "research"
The consumer is told the U.S. Postal Service is at fault.
The consumer is told their bank is at fault.
If they have, look in the upper corner of this pae and find the "Regulators" menu and start filing your reports with them. The list I show here are the typical predatory actions from the original Household International, while William F. (Bill) Aldinger was CEO. Now HSBC owns the company so other new predatory tactics may also apply, or HI is now HSBC on your credit report. One thing is for sure. HSBC has plans to export their shady predatory lending to India and other countries that a ripe for abuse. While some think Aldinger is a terrorist just like McVay and Usama Bin Ladin if you have been touched by his predatory lending you should know it and HSBC is not going to stop it.
HSBC Watch News Release Forum Index - HSBC Finance Corporation
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.