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HSBC is cutting back in the U.S. after its 2003 purchase of Household International Inc. required it to set aside more than $65 billion for bad loans

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AG helps with live check from Beneficial Finance, HSBC

DR in Wisconsin sent this follow-up: “I looked at your Attorneys General blog and realized the one item listed for Wisconsin is MY horror story.

A year ago without my knowledge, Beneficial/HSBC mailed an unsolicited open check offer to someone who had the same name as I, but who lived 125 miles away. The check was tied to MY SS# in the eyes of Beneficial/HSBC. That person cashed the check and a few months later HSBC began calling me demanding payment. I knew nothing of the check and told them so. I was shocked when the agent was able to read back to me MY social security number. For months I spent hours on the phone calling, begging them to listen to me. I did not cash their check. They even mailed me a copy of the canceled check (not my signature).

I insisted time and again that Beneficial/HSBC initiate a fraud claim. Daily over the space of months I was told that the fraud forms would be mailed, but they’d never come. All the while, the collection calls kept coming and each new collections agent who called, had no info on my claims of fraud requiring me to explain the situation all over again for each new call.

Frustrated, I submitted my issue to the Attorney General’s office. Once Beneficial/HSBC was contacted by them, the forms were sent immediately. Three months later HSBC cleared me of cashing their friggin’ check. The collection calls by their rude, indifferent agents continued, however and none of these agents knew anything about my claim. Total personal time devoted to clearing this up was over 15 hours over a period of 5 months. All I rec’d from Beneficial/HSBC was a check for $1.50 (one-dollar-fifty-cents) which covered some of my postage and notary fees on the fraud claim paper work.”

Posted By Timothy Blake

HSBC Watch is a watchdog and consumer activist coalition.

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UPDATE NOTE: HSBC car loans were sold to Santander USA in 2010 :: Most HSBC credit cards became Capital One credit cards in 2012 :: HSBC horrible predatory home mortgages are in run-off