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SS in Ohio said: “I was using a settlement company to try to get an HFC debt off my back. HFC decided to sue me for a judgement, so i borrowed some money from my sister to start making payments. The HFC demanded $4000 by January 30 and $7000 by February 20. Thats is their proposed payment arrangement. That is impossible.”
Editor’s Note: When it comes to HFC and debt management companies it does not work well. HFC and Beneficial do not work and play well with others. We have reports from families trying to stay afloat. Many reports indicate that other creditors work with debt management while HSBC, HFC, and Beneficial are some of the most difficult of all. If a family tries debt management with the mindset that all creditors will work together to prevent bankruptcy it is not true.
If your contract has a bankruptcy exclusion clause, a clause for binding arbitration, and/or a clause that collaterizes everything you ever bought, you will see why HSBC Finance, HFC, and Beneficial think they are different than other creditors. While a settlement is admirable, even bankruptcy may not solve your problems with this creditor.
This article, Borrowers uses settlement company but HFC sues instead, is just one of our articles from Bank Horror Stories, HSBC Secrets
Bank Horror Stories monitors banking problems and customer complaints and has done so since 1999. Writers hold no stock positions. Some material is used under the fair use copyright act.
We use Thomson Reuters News Service Calais in all production material but are not associated with Thomson Reuters, banks, or financial institutions in any way.
