HSBC Watch News Release Forum Index
Forum Name: - Mortgages
Topic Title: HSBC ruins FICO scores to prevent refinancing
Wed Jan 12, 2005 12:13 am
I declared bankruptcy a few years ago. The court discharged my unsecured debt, but NOT my Household Home Equity Line! They claimed they didn't receive a re-affirmation agreement from my lawyer in time before the court closed the case. It turns out that my lawyer did turn send one sixty days before. I think Household just wanted to keep me paying an interest-only loan at a high interest rate and prevent me from re-financing the principal. They sent my loan to a collection department within HSBC (California office) without any notice to me. I have paid and pay on time, every month, never late, and they report the account as included in Chapter 7! I've called them and written the credit bureaus every six months and HSBC still refuse to correct the error. Nowhere on my bankruptcy petition does it include Household as discharged. In fact, it says I shall retain the property and pay as agreed. The credit bureaus just take HSBC's word and claim the information was reported correctly. HSBC keeps to its claim that since the re-affirmation agreement wasn't recieved in time (BS) they have to report the account in bankruptcy. How can you have both a discharged account and no late payments at the same time?
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