Household HSBC Watch

Sat Apr 30, 2005 6:46 pm      

I cosigned a Best Buy account with my exfiance to purchase a TV 24 months same as cash we subsequently purchased a computer on the same account with the same terms. His name appeared first on the account. We separated on less than pleasant terms and he had to move from the residence. I had called customer service on previous occasions and was told because he was the principal card holder they could not speak with me even though as a cosigner I was equally responsible.

He was having his mail forwarded so I was not receiving the statements and even though he had been instructed to send them on to me he held them until they were past due. As I kept the items I agreed to pay off the account. In Nov '04 I used the customer service number on a collection letter he had received and requested a pay-off amount. I sent this amount by check with the notation "in full" and followed with a letter requesting the account be closed. His forwarding obviously expired in Dec as for several weeks I received his mail including a Best Buy statement. It had a balance of over $1000.00.

I immediately called customer service and this time they magically decided they could talk to me about the account. Of course the balance was finance charges because the payment had arrived past the due date. I explained the situation but of course I got no where. The first CSR I spoke with was very rude and told me that even though she had the authority to waive these charges, she had no intention of doing so. Her supervisor was even worse. I then wrote a letter to the address listed for correspondence on the statement, disputing the charges. I was well inside the 60 day limit. This was sent 1/23/05. I outlined the problems with the forwarded mail and that I was not receiving the statements. I also made it clear that the other party had no intention of paying this debt.

On February 13 I sent a second letter, enclosing a copy of the first and inquiring why I had not received a reply. I also reiterated the mail and forwarding issue. I finally received a response dated 3/11/05. It just restated terms of financing, etc and proceeded to inform me that additional finance charges had been added and that they had not received a payment yet. Nowhere in the letter did they address the issue that I was not receiving statements even though I had first made them aware of the situation in January. It was obvious that he is still receiving these statements as I have not seen one since December.

I responded to this letter on Mar 17. I asked that they reconsider their decision and pointed out that they did not address the issues concerning my lack of statements or their policy of not giving information on the phone to legitimate cosigners. If they refused to reconsider I asked that they reverse the additional finance charges as the amount was in dispute as well as reversing any negative credit reports. If it meant saving my credit I would be willing to make minimum payments and legally pursue "the loser" and make him pay. I noted the dispute clause from the back of their own statement stating that disputed amounts do not have to be paid while in dispute, they will not make negative credit reports and will not initiate collection.

I have yet to receive a response to this letter as of today 4/30/05. On 4/27/05 I received a call at work from HSBC collections requesting a payment as I was 38 days delinquent. I informed her that this amount was in dispute and I was waiting on a response from HSBC. She said she had no record of a dispute and would I send a payment. I explained that I hadn't received a statement since December even though I had made them aware of the forwarding problem and that they had my name and address. She said "why didn't you call?" I said because your CSRs won't talk to me they only want to talk to him and anyway the statement says it must be in writing. None of this made an impression, she just kept hounding me for a payments.

I finally told her she was calling me at work which I didn't appreciate and where did she get this number? She had already talked to him and he had told her to call me. I finally hung up on her when she asked me one more time for a payment and informed me that my credit had already been dinged. She did ask where I had sent my dispute letter, being at work I only knew it was a PO Box, Wilmington DE. She gave me the box number it should have gone to and when I got home I compared them. It was the PO Box I had sent my first 2 letters to (15521). The third letter I sent to 15529 which is the box my response letter said to use. I am preparing a fourth letter which I will be sending certified mail including copies of previous correspondence and my intention to file complaints with all appropriate agencies.

At this point the only thing I really want are the additional finance charges reversed, statements sent to me and my credit report corrected. I am attempting to refinance my property as I am in litigation with my ex over possesion. I could lose my house if I can't obtain financing. These people need to be stopped. You have my support in anyway you can find to fight them. Best Buy is a big presence in the market here. I intend to spread the word about their practices anyway I can. Thanks in advance for any assistance you can provide.