The large volume of complaints to Household - HSBC Watch concerning transfer of accounts from GECF to HSBC (Household International) suggests lawsuits concerning the issue. It will not be the first time such transfers attracted the attention of regulators and attorneys. We reference the action cited below:
A class action suit filed against Heilig Meyers/ RoomStores states “In the months immediately surrounding the Heilig-Meyers bankruptcy, some of the accounts were not properly serviced”. As a result, two lawsuits were filed against the Heilig-Meyers Master Trust and others claiming that there was a breach of contract, unjust enrichment, negligence, unfair trade practices, and violations of the Fair Debt Collection Practices Act and other laws. A class action settlement was reached in these lawsuits and was preliminarily approved by the U.S. District Court for the District of South Carolina, Florence Division, on July 25, 2002.
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