HSBC Watch News Release Forum Index
Forum Name: - Horror Stories
Topic Title: NO HORROR STORY - FOUND A RELIABLE SOLUTION
Sat Sep 10, 2005 1:13 pm
I have worked in the financial industry for 27 years and am definitely pro-customer. Everyone should be given the information necessary to make sound decisions.
In June of 2004 my husband and I purchased furniture from Art Van Furniture in Michigan. While looking for the on the Internet for a web site I found a posting site similar to this one. The horror stories I found there made me wonder what I had just done to my credit. I received the statement in the mail and called the 800 number listed. Before I even was able to select a menu the web site given. I immediately went to the web site and created a log in. I figured paying over the Internet was better than sending it in the mail since I would have proof the payment was made. I worried about giving them my financial information and then realized that my financial institution had a bill pay service that would take the funds from my account and send it to them. My bill pay service was able to send the payment electronically and it usually takes two days to post. I send my payment on Thursday and normally can login to this web site
https://www.hrsaccount.com/hrs/ecare;jsessionid=0001ZTYBHKF2GMI4Q2QBJKY0VTQ?cmd_Logoff=&org=000
on Saturday afternoon and see the payment has posted. This site works for both of my cards that happened to be issued by HSBC. Each account needs a different login. If the bill pay service charges a small fee it is worth the cost if it keeps HSBC from ruining your credit.
Many bill pay services may have a recurring option to make the payment on the same day every month. As long as the money is in your account your payment will automatically be made. Make sure you use the bill pay service from your financial institution and not just some place on the Internet. The last thing you want is you bank account information out there all over the world. By using your financial institutions bill pay service, you only have to login once and can pay normal everyday bills (subject to the user agreement).
Sat Sep 10, 2005 1:32 pm
Let me begin by saying that on June 12. 2004, I purchased a sofa and loveseat from the Howell, Michigan Art Van furniture store. The purchase was made with Art Van’s advertised "12 month same as cash" as long as this purchase was paid by June 2005 purchase agreement. The total sum of the invoice was $1591.02. The salesman was Mr. Tom Wheelis.
I had seen the advertisements on television that claimed with purchase, I would pay nothing until 1 year later. I signed the forms that Mr. Wheels presented to me, and after signing all, I ask him exactly how did this 12 month same as cash promotion “work”? Mr. Wheelis explained, and also wrote on the invoice that I had to pay nothing until June of 2005 then I would only have to pay the invoice balance of $1591.02.
On April 19. 2004, I paid in full, $1591.02, via check #6233 drawn upon the National - edited -. I then received a bill with the statement date of 4-21-05 with a new balance of $1737.33 which was to be due on May 16, 2005. I then contacted Art Van’s customer service department and was told that the debt cancellation product on this account was cancelled by HSBC, and this matter was taken care of.
I sent a copy of this cancellation along with the billing statement of April 21, 2005 feeling that this matter would be finalized as I had previously paid the bill in full prior to the due date, and was told by Art Van’s customer service Department that this matter was taken care of.
However, to date, I continue to receive a monthly statement which includes compounded late fee's. Due to not paying this fee, I am now being threatened to have this account turned over to collection, thereby damaging my credit rating.
Going back to the original purchase, the salesman, Tom Wheelis told me in no uncertain terms that my total cost of the purchase was $1591.02 and no payments were due until one year from date of purchase. This is supported by the copy of the invoice. Again, I paid that that amount prior to the June 2005 due date.
I have in my possession, the original invoice and letter from Art Van’s Customer Service Department stating this matter was taken care of
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.