Thursday, August 25, 2005 — U.S. personal bankruptcy filings in federal courts surged 18 percent in the three months through June from the prior quarter, as consumers rushed to beat the deadline for a new law that makes erasing debt more difficult, the Administrative Office of the U.S. Courts said. The number of filings under Chapter 7 of U.S. bankruptcy law, designed to allow individuals to keep certain assets while remaining property is sold to repay creditors, jumped to 308,028 in the quarter, the office, which provides support services to the federal judiciary system, said in a statement today.
“It will be interesting to watch the quarterly profit reports from HSBC, MBNA and others with high interest rates, questionable tactics and high fees” said Household - HSBC Watch. “Household International, HSBC, MBNA (Metris) and other sub-prime lenders and George Bush are the ones to thank for changes in bankruptcy laws. Predators pushed it and Bush swallowed it” the group said.
Archive for » August, 2005 «
With the addition of William F. Aldinger to the board of directors at Charles Schwab, consumer advocates at Household - HSBC Watch said they would watch Charles Schwab as well as HSBC. Investigators discovered that Aldinger’s assistant is still employed by HSBC. Intelligent minds ask if Schwab is for sale, or is Schwab going to branch out into predatory high-risk lending. Is Aldinger the front man for HSBC, or will Schwab start a new risky venture? Is Aldinger really retired from HSBC? How will Schwab turn the company around, and is Aldinger the right choice for the board of directors?
Mumbai, Aug 24 HSBC has received Foreign Investment Promotion Board (FIPB) approval for setting up a Non-Banking Financial Company (NBFC) and is awaiting other regulatory approvals. The NBFC would enable HSBC to expand its retail operations in India. With such an expansion plan on cards, HSBC would capitalise on the retail boom witnessed in India, stated Nicholas Winsor, head personal finance services, HSBC.
Kansas City - August 25, 2005 - News Release
Sources who prefer to remain unnamed report that William F. Aldinger’s assistant still does work for Aldinger while paid by HSBC. Whether part of Aldinger’s retirement package or for some other reason Mary Hicks continues to do work on behalf of Aldinger while paid by HSBC and working at corporate headquarters of HSBC Finance Corporation. HSBC Finance Corporation is the former Household International, well known for predatory mortgage loans. Aldinger recently retired from HSBC one year earlier than planned and was recently appointed as the eleventh member of Charles Schwab’s board of directors.
Due to a record number of complaints about Household International and HSBC our programmers added a “related topics” link to the forums. Now whenever you view a complaint or read a horror story similar related issues will be listed. To read those issues, check for trends, or further examine what happened just click the links. We have over 1400 postings in the 2004 - 2005 forums, just about as many in the archived forums, and almost 1000 posting in the blogger under “Articles and news”. We added related topics to the blogger and it was popular so we decided to add it to the forums. Thanks for supporting Household - HSBC Watch.
