Welcome to HSBC Watchdogs & Consumer Advocates

The Voice of HSBC Customers Around The World



Currently Reading

HSBC Finance was so bad that the company and a few others, more than anything else, prompted new finance and credit card laws. It was truly unfortunate that the economy had to fall apart before regulators woke up

Household International and HSBC customer service representatives continually violate portions of FDIC Regulations Z, as referenced by submitted complaints. Here is a chart that helps you write your letters. Invoice the proper agency. Just prepare an invoice or bill using Microsoft Office or similar software. Use 'proof of delivery' when you send your mail.

References to the Fair Debt Collection Protection Act (FDCPA) and Fair Credit Protection Act (FCPA) come from the FDIC - the same people that insure your deposits. The link to them is here

Much has been written about recording your conversations with HSBC. Also, if you don't get your statement, file a complaint with the OCC and reference the violation of FDIC Regulation Z.

This page is a wealth of information. It shows how HSBC must send you a statement and how they must credit your payment in a timely manner.

Getting Your Money
Who Why Precedent/Law Fine
Creditors if they report your credit history inaccurately Defamation, financial injury US Court of Appeals, Ninth Circuit, No. 00-15946, Nelson vs. Chase Manhattan Extent of damages incurred by the wronged party as deemed by the courts
Creditors, if you dispute a debt, and they fail to report it as disputed to the credit bureaus Protection under the FCRA FCRA
Section 623.
$1000
Creditors if they pull your credit file without permissible purpose Injury to your credit report and credit score FCRA Section 604 (A)(3) $1000
Credit bureaus if they refuse to correct information after being provided proof Defamation, willful injury FCRASection 623


CUSHMAN, v. TRANS UNION CORPORATION US Court of Appeals for the Third Circuit CourtCase 115 F.3d 220
June 9, 1997, Filed (D.C. No. 95-cv-01743).

Extent of damages incurred by the wronged party, as deemed by the courts
Credit bureaus if they reinsert a removed item from your credit report without notifying you in writing within 5 business days. Consumer protection afforded by the FCRA FCRA Part (A)(5)(B)(ii) $1000
Credit bureaus if they fail to respond to your written disputes within 30 days (a 15 day extension may be granted if they receive information from the creditor within the first 30 days) Consumer protection afforded by the FCRA FCRA Section 611 Part (A)(1) $1000
Creditors or collection agencies, and credit bureaus if they try and “Re-age” your account by updating the date of last activity on your credit report in the hopes of keeping negative information on your account longer Consumer protection afforded by the FCRA FCRA Section 605
(c) Running of the reporting period
$1000
If you dispute a debt, the collection agency fails to report it disputed to the credit bureaus Protection under the FDCPA FDCPA
Section 807(8)
$1000
Collection agencies if they do not validate your debt yet continue to pursue collection activity (file for judgments, call or write you) Consumer protection afforded by the FDCPA FDCPA
Section 809 (b),

FTC opinion letter Cass from LeFevre

$1000
Collection agencies if you have sent them a cease and desist letter and they still call you Consumer protection afforded by the FDCPA FDCPA
Section 805 (c)
$1000
Collection agencies if they have not validated your debt and they still continue to report to the credit bureaus Consumer protection afforded by the FDCPA FDCPA Section 809 (b),


FTC opinion letter Cass from LeFevre

$1000
Collection agencies if they: - Cash a post-dated check before the date on the check
- Cost you money by making you accept collect calls or COD mail
- Take or threaten to take any personal property without a judgment
Consumer protection afforded by the FDCPA FDCPA 808 Section $1000
If a collector calls you after 9 PM at night or before 8 AM Consumer protection afforded by the FDCPA FDCPA Section 805. (a)(1) $1000
Calls you at your place of employment if the debt collector knows or has reason to know that your employer prohibits the consumer from receiving such communication. Consumer protection afforded by the FDCPA FDCPA Section 805. (a)(3) $1000
Calls any third part about your debt like friends, neighbors, relatives, etc. However they can contact your attorney, a consumer reporting agency, the creditor, the attorney of the creditor, or the attorney of the debt collector. Consumer protection afforded by the FDCPA FDCPA Section 805. (b) $1000
The collection agency can not use any kind of harassment or abuse** Consumer protection afforded by the FDCPA FDCPA Section 806 $1000
Collector cannot claim to garnish your wages, seize property or have you arrested *** Consumer protection afforded by the FDCPA FDCPA Section 807 $1000
Collector must you in a county in which you lived when you signed the original contract for the debt or where you live at the time when they file the lawsuit Consumer protection afforded by the FDCPA FDCPA Section 811 (a) (2) $1000

Also a good grounds for getting a judgment vacated

** (1) The use or threat of use of violence or other criminal means to harm the physical person, reputation, or property of any person. (2) The use of obscene or profane language or language the natural consequence of which is to abuse the hearer or reader. (3) The publication of a list of consumers who allegedly refuse to pay debts, except to a consumer reporting (4) The advertisement for sale of any debt to coerce payment of the debt. (5) Causing a telephone to ring or engaging any person in telephone conversation repeatedly or continuously with intent to annoy, abuse, or harass any person at the called number. (6) Placement of telephone calls without meaningful disclosure of the caller's identity.

***If the collection agency get a judgment against you, then they will be able to garnish your wages and seize property, but until that time, no.

This is just one of our articles referencing HSBC complaints about mortgages, Bestbuy, credit cards, auto loans, fees, and late payment processing.

Author's Note: Don't forget to visit the Action Engine for help, downloads, or to search for more articles like this. HSBC Watch gives you more than just articles. Send us your complaint using the live help system at the bottom of each page

Notes

 

HSBC Watch monitors HSBC customer trends for possible violations of Regulation Z and other possible illegal actions. We use your individual HSBC complaints and merchant complaint reports to perform trend analysis. We are not associated with HSBC, Household International, or their merchants. Some items are used by permission granted in the Fair Use guidelines of the 1976 U.S. Copyright Act. HSBC Watch was formerly known as Household Watch is now part of the Lender Watch network

Network

Comments are closed.