HSBC Watch News Release Forum Index
Forum Name: - Rhodes Furniture
Topic Title: CSR's violate the law while ruining credit
Thu Nov 04, 2004 10:28 am
HFC has destroyed my credit. I obtained an account with them (unknowingly) through Rhodes while I was stationed at FT. Benning, GA. In July of 03 I received orders to move to VA. I contacted all my creditors( including Beneficial) as well as submitted a change of address form with USPS. Shortly after arriving at my new duty station, my new position required me to travel for extended periods of time.
My husband took care of the bills. During this time he never received a bill from HFC - Benefical. I assumed erroneously that the bill was paid off (as there wsan't a large balance). I pulled my credit report one day only to find that it had been littered with late pays as much as 180 days. I immediately contacted them and explained everything. I paid the bill in full over the phone immediately.
Unfortunately HFC would do nothing to make a goodwill adjustment to my account. I was told by their CSR that they are not required to send me a bill. That was just a courtesy. I have tried relentlessly to contact someone in HFC who will help with with this matter, but to no avail.
Additionally, I requested to be enrolled in the SSCRA (solders and Sailors Civil relief Act, but never received any response regarding this matter. I assumed then that it was a creditor's "choice" to participate and they didn't .
I would like to have my credit reports clean of HFC. Is there anything you can suggest to me? Thanks in advance.
Thu Nov 04, 2004 10:51 am
Creditors must mail a bill to the last known address unless the account is deemed uncollectable. To do otherwise is a violation of the fair credit billing act, Regulation Z.
The CSR is wrong. Mailing a bill is not a courtesy, it is a requirement.
Failing to update your change of address might be a mail fraud violation. If other creditors posted your change of address in a timely manner and Household - Beneficial did not, consider filing a mail fraud report. You can do so online with the US Postal Service.
Soldiers and Sailors Civil Relief Act - now this is another area where Household - Beneficial - HSBC North America and HSBC seem to violate the intent of the law and the letter of the law continuously.
Here at Household Watch we are staffed by retired Soldiers and Marines. It is unbelievable to us that Household - HSBC claims to educate the military through their association with UMUC, while UMUC conducts college education for the military overseas.
At the same time, Household - HSBC gives our warriors the run around on the Soldiers and Sailors Act. Requests to fax the same information over and over, while refusing to honor the law which includes a reduction in interest rate to 6 percent!
In fact, Household Watch began when active duty soldiers were discussing finance in an early morning mandatory training session. Seems Household didn't honor their own interest free promotions, and failed to send bills to their customers. Change of address's for active duty Soldiers were not processed. There were too many issues which impacted that group of Soldiers for it to be a fluke or accident.
These events took place back in 2000 -2001, as the government credit card became a requirement and good credit was also a requirement. Many of us held secret clearances. We were all deployable. We moved a lot. And we perceived that Household, Beneficial, and now HSBC and HSBC North America Holdings was anti-military and boarderline un-american in addition to being predatory lenders.
We contacted Bill O'Reilly at Fox news. Household started advertising on the O'Reilly Factor. The money won out, and we were never heard. So much for Fair and Balanced.
But we were heard by investigators, State Attorney's General, UMUC, the Securities and Exchange Commission and the Federal Trade Commission. Household Watch was able to substantiate information, and provide trend analysis which allowed legal and non-legal investigators to confirm what they suspected.
We saw Shea v Household as it was taking place and perpetrated by Household International and HSBC.
We saw abuses by HFC and Beneficial and provided inout for the US$484 million nationwide investigation.
Unfortunately, as one Soldier to another, and for our visitng audience, your report indicates another disturbing trend, and shows that some things never changed. We hope you get some results. If you need us to file a complaint with the Armed Services Committee we can do it. I know there are some restrictions on what you can do while on active duty. Two of us have given 45 years to the Marine Corps and Army combined, and we are not limited any more. Let us know, and thanks for your report.
Fri Nov 05, 2004 8:25 pm
Household Watch wrote:
We contacted Bill O'Reilly at Fox news. Household started advertising on the O'Reilly Factor. The money won out, and we were never heard. So much for Fair and Balanced.
Sounds like Mr. Bill O'Reilly from Fox News was not looking out for you. In fact he was not looking out for any of us. I haven't seen Household commercials on The Factor for years. They (Household International television commercials) put a spin on things that aren't fair and balanced.
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.