HSBC receives check, never credits account, FICO was 780, now 620

SM in Arizona said: “I just ran across your site trying to find some information on HSBC retail services. Several years ago I purchased a Mitsubishi TV from Fry’s Electronics and was financed through HSBC retail services Mitsubishi.

I paid on the loan monthly until I paid off the loan through a refinace of my home. The title company sent a check from the escrow account to HSBC in the amount of the payoff plus a little extra to cover any additional intrest that might occur during the process.

HSBC recieved my check and cashed it.

Several months later I start recieving phone calls from HSBC asking why I have not paid on my account. I told them that my account was paid off and they asked for proof of this. I then went to the title company to get a copy of the cashed check from the escrow account.

The check was stamped by HSBC as monies recieved and the money removed from the escrow account. I called HSBC back and then faxed the copy of the check to them. I considered the matter closed at that time.

The problem is that they cashed the check and recieved my money but did not credit my account with them with that money.

The check issued from the escrow account had my name, address and account number on it.

Over the course of the next year I continued to recieve many phone calls from HSBC claiming that my account was seriously past due and demanded payment in full.

I faxed the copy of the check they cashed to them several more times to no avail. The phone calls were very nasty and threatening.

They have since sold the account to a collection agency who also demands that I pay again for my account.

Both HSBC and the collection agency have placed negative entries on my credit report.

I had a 780 FICO prior to all this and now I have a 620. I have disputed the information on my credit report and have not met with any success as of yet.”