HSBC Watch News Release Forum Index
Forum Name: - Company Discussion
Topic Title: what I learned and was freely admitted to me at HSBC
Thu Aug 25, 2005 1:36 am
Back in March of 2001, when i was having a casual discussion with a trainer named tylisa(witholding last name) she freely admitted that household at the time openly withholds address change requests and payments because accortding to her,and i quote verbatim," this is how we make our money which is off of those $29(at the time) dollar fees...otherwise,we wouldn't be as successful"
anyone wnat more? I have lots.
Thu Aug 25, 2005 1:46 am
Since Bill Aldinger arrived at Household in 1994, or shortly thereafter, those $29 late fees were making money for them. We have hundreds of complaints about making payments early but they credited late. Change of addresses are a request to get hurt. Now we must prove it to the State Attorney's General. You confirmed what we already knew. How does one prove it?
Thu Aug 25, 2005 1:53 am
look at the postmark on the envelope or insert that was mailed with the specific date-or even yet, be more creative- get a digital camera that has the date, and take a pic of it before you mail it.
Thu Aug 25, 2005 1:57 am
what needs to be done is the system that is used for mail intake at what is called a common front door because by law federally any piece of mail received by a publically held company must be recognized and acknowledged within twenty four hours of the receipt of such documentation. I know their system. It will show when each letter was received through the system, as well as you can make the case by looking at the data entry records for the actual date of posting of payment or address change and compare that to the actual received date. You can also check with the USPS when they received certain mail by their own tracking systems and determine even if they are witholding receiving mail it can be done methodically and successfully.
Thu Aug 25, 2005 1:59 am
you provide the states attorney generals office with the documented evidence and by law as well, a financial institution by reg c i belive must post payment within 24 hours of receipt,
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.