Between the "Account 98" scandal and the following report, 2005 could be ugly for HSBC. Thanks to scandal plagued predatory lender Household International, now called HSBC Finance Corporation in the U.S., it appears another nationwide lawsuit may be on the horizon. Read this report submitted to U.S. consumer advocates Household - HSBC Watch carefully:
"I have a 2nd mortage with Household. They automatically deduct from our account monthly. They suddenly say we don't have the money from the last few months. I laugh and show them the bank statements. They laugh and say we refuse to accept them. So I get our bank president to draft a letter to Household verifying the statements, and verifying that the money was taken out every month. Household just says,"NO." They are now continuing to foreclose on our property. We have since got a lawyer. He laughed and said he can fix this with a couple calls. After a month of trying he is frustrated and has not accomplished anything. It isn't even legal to foreclose on an FHA home but they have been, and are currently doing so. The attorney general says we are one of thousands of similar complaints against Household, and they will get around to it at some point. But we need help now! How can there be nothing that anyone can do to stop these theives from stealing thousands of homes around the country? Everyone is shocked to hear our story and powerless to help." -- end of report --
Thousands of similar complaints? Household - HSBC Watch wants to get to the bottom of this report. Stay tuned.
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