HSBC Watch News Release Forum Index
Forum Name: - Horror Stories
Topic Title: Beneficial ignores account updates
Sat Aug 21, 2004 11:15 pm
Purchased a vacuum through Beneficial Finance. I was a co-signer on an account and had different contact numbers than the borrower. We had split ways and were no longer under speaking terms so I contacted Beneficial last year to give them my contact numbers in case the borrower ever went into default. I wanted to make sure it was kept up to date.
Last month I got a call from their Collection agency demanding that I pay $600 to them IMMEDIATLY and they reported to the credit bureaus that I was 133 days late. Beneficial NEVER contacted me to let me know a payment needed to be made and they refuse to change my credit!
Mon Nov 15, 2004 1:05 pm
Currently am the owner of a Kirby Distributorship of vacuums and am interested in keeping my clients happy. Used to deal with Beneficial but dont anymore. Currently we are still not happy with financing situation. Any suggestions from the public or a pacific company.
Been in the business 20 years and dealing with the finance company is the hardest part. They can take a chunk from the small business man also.
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.