HSBC Watch News Release Forum Index
Forum Name: - Opinions
Topic Title: Poor Administrative Skills at HSBC - Household
Tue Dec 14, 2004 12:09 am
We have had numerous problems with HRS, HRSI, and HSBC. They are horrible at sending their bills on time and they have information that seems to get mixed up after a period of time.
Wed Dec 15, 2004 9:12 pm
JR, you're far from alone. I recently wrote a book about predatory lending, and Household was Exhibit 1. As I'm sure you know, they paid $484 million to keep the attorneys general of some 40-plus states from suing them. One of the attorneys general told me that they believed Household's practices damaged consumers to the tune of $1 billion. Although the settlement demands some meaningful reforms, they amazingly don't apply to loans originated through brokers - even brokers Household/HSBC own. It's not a horrible settlement, but it has gaping holes in it.
Have the administrative problems led to foreclosure? Are you getting help from any anti-predatory-lending groups? I don't often check this board. Feel free to e-mail me.
- Richard Lord
Author of American Nightmare: Predatory Lending and the Foreclosure of the American Dream
richlord @ mcihispeed.net
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