HSBC Reporting Consumers as Late Pays
Household and HSBC were accused of crediting payments “late” for almost ten years, from 1994 through 2004. Did the fraud stop? This is from December 31, 2004:
“”Had I not initiated contact with HSBC - Household, they would still be reporting me delinquent. They claim the incorrect address was harvested from my credit report in October, yet my new home purchase and my correct address is clearly and prominently displayed on my credit report. HSBC is lying.”"
One company insider told Household - HSBC Watch that the company processes some applications using an old address from the credit report or a previous address from the application. That statement lends credence to the claim quoted above. Watch for more in 2005.
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