HSBC Watch News Release Forum Index
Forum Name: - Horror Stories
Topic Title: Bowflex account reported late, never received a statement
Wed Apr 20, 2005 10:08 am
Report received from SH in Florida via helpline:
Ordered and received a Bowflex in January 2005. Never received a mailed statement. Made payments when called by the CSR/collections.
Applied for new loan at a local credit union and was turned down, ordered his free credit report based on the refusal to grant the loan. Found HSBC/RS reporting the Bowflex account 30 days past due.
Wed Apr 20, 2005 7:20 pm
After five years of doing this, those of us here at Household - HSBC Watch still hear of customer service representatives telling customers that statements are not mandatory. Please look in the upper left corner of this page to see the "regulators" drop down menu. Go to the FDIC website to see the law. You will know the truth even if the predatory lenders and unskilled help does not. Don't let them lie to you.
Sat Jul 02, 2005 8:36 am
We purchased a Bowflex back around 2000 and because of late fees and finance charges from HRS we have been paying on a one year loan since then. This has hurt our credit badly. We just settled with HRS yesterday for $2000. ($300 more than the Bowflex originally cost!) How do we make sure this account is listed as paid on our credit report? By the way, LESSON LEARNED! We will never order anything from television again!
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.