HSBC Watch News Release Forum Index
Forum Name: - Suzuki
Topic Title: Suzuki financing sold to HSBC, consumer not notified
Wed Jul 27, 2005 9:58 pm
I bought an ATV from Quinsey Powersports in Lemon Grove CA and financed it through GE Capital Finance in August 2002. On 21 July 2005, my credit report (to see about financing for a house) showed my ATV loan twice. Once from Suzuki and once from HSBC, both had different balances. I went to look into it the following Monday after the weekend. I come home 25 July 2005 and there is a collection notice from Accounts Receivable Management Inc. saying I was past due to HSBC Retail Services.
When I called, I told them I had no account with them. They informed me that they took over my account from GE Capital. I was not aware of that. I asked why I was turned into collection as I always made my payments each month, although usually close to the due date. I was told I was three months behind. I said that is B.S. I asked what months I missed and was told they didn't have that info.
I looked up HSBC online to get a customer support number. They told me to contact the collection agency. The second time I called their office and spoke with a different rep, I was given the "it might be this, or that" routine. I informed them that they would not get my bike or any money outside my monthly payment until they could come up with more solid info. They informed me that I have to pay off my balance of $5867.50 or 1300.00 in past due amounts or half of the 1300 this month and the other half next. The collection agency also informed me that they have had my account since the first of June and have just now been able to find me.
I asked why and they told me I had given them a bad address. When I inquired what address they had, it was my old address in California. Since I had bought the bike, I have moved to Ohio because of a military discharge. I informed GE Capital of the change of address before I moved out of California.
Since I bought the bike I have not received any correspondence from HSBC for anything until this collection notice. I have hidden the bike, and digging up all bank statements and cancelled checks. A friend of mine recommended I send a certified letter to both HSBC and Accounts Receivable Management Inc. to put the burden of proof on them.
Once I get my paper work found and organized I will seek some legal advice if need be. Right now I could not tell you if my due date had changed, or my interest rate. This is a first time situation for me. I am even considering re-financing just to get the *beep* out of any affiliation with these people. I could use any more help if possible.
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