Household HSBC Watch

Household International and HSBC pushed hard for bankruptcy reform, saying filers were deadbeats and scam artists. We’ve been called worse by Household and HSBC. It turns out they were wrong with their stereotype.

In what will undoubtedly be the first of many “I told you so” reports, the National Association of Consumer Bankruptcy Attorneys […]

WASHINGTON — The rush of indebted consumers to file bankruptcy before a tough new law took effect pushed personal filings for 2005 to their highest annual level on record — more than 2 million, according to new data.

Significant increases in consumer bankruptcy filings occurred in every region, according to the data released Wednesday by Lundquist […]

By JONATHAN D. EPSTEIN
News Business Reporter
11/16/2005
Profits at the New York-based parent of HSBC Bank USA fell again in the third quarter, as the growing relationship between HSBC Bank USA and former consumer finance company Household International continues to take a toll on the local bank’s earnings.

HSBC USA reported net income of […]

The overall quarterly increase in bankruptcy filings was fueled by consumer Chapter 7 filings, which rose 17.7 percent, to 362,481 from 308,028, for the second quarter of 2004. Under Chapter 7, a person’s assets are liquidated, except those exempted by law, and debts are wiped away. Such cases are usually simple. The average filer doesn’t […]

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 […]