Household HSBC Watch

The following report was received at Household - HSBC Watch. Enough of these reports were received in the last 60 days to indicate that this is a new trend on the part of HSBC (Household). This consumer did exactly what GE told them to do. Hopefully states attorney’s general will take action, and not another class action where Household - HSBC ruins people’s credit and pays little to settle with class action lawyers.

Here is a typical report:

“GECF sold my account to Household ( HRS ) in April 04, sent me notice to destroy my payment book and wait to receive new payment coupons from HRS. However it was not until August that I received a statement from HRS, and a call from Corporate Receivables saying I must the loan in full because I refused to pay. Now this “non-payment” or delinquency of over 60 days is on my credit report further, although the account has been settled in full since September 04. Corporate Receivables dates transfer of accounts in April, but HRS has the date of transfer as August. Their mix-up BUT my credit record! THIS IS WRONG!”

Advocates at Household - HSBC Watch say many questions remain to be answered. Did the account belong to GE until consumers receive a letter from Household? Will GE and Household get charged with racketeering? “If GE thought they could trust HSBC and Household to act like an intelligent, non-predatory, law abiding company they certainly misjudged HSBC and Household”. said Household Watch. “There certainly is enough on the net and enough court records which indicate otherwise, so GE has no defense.”