Beneficial - hsbc HSBC, HFC Fraud Theifs The Most Dishonest Corrupt Company Carol Stream, Illinois

Well i am game for a class action suit against HFC also  I had problems with HFC also   You can count me on it also and i am from massachsetts and yes HFC needs to be stopped and shut down and get our money back also

I also would love to be involved in a class action suit against Beneficial.  They have got to be the most ignorant group of people to ever work in the same company.  We fought with them for 2 years after medical issues caused us to get behind.  They have approved hardship requests, then we get a letter saying they weren't approved after all.  I could go on and on about the anguish we have had since we took our original mortgage in 1998.  They also talked us into refinancing in 2001 after I had back surgery, which was a huge mistake.  They have lied, taken our money, lied some more...we finally gave up and moved out of our home.  But I am definitely angry that there is no one available to bail out those of us who have legitimate problems that prevent us from meeting our obligations. 

Count me in on your class action law suit. I have had some of the same treatment from this company. You never know where you stand with them on trying to correct a problem with your account and you can never talk with any one with any real authority.

I am asking you to report HFC to attorney generals of your state and treasury of state so that HFC can be investigated, they are the worst rip-off I have ever dealt with. There will be an investigation if enough people complain. I already have.

I would like a class action suit against HFC also.  they are predetory lenders and they con't care about anyone else at all and all of their offices have closed and they have only po box address and an 8000 number to call them but they don't listen to you and they never return the calls to you.  My name is pam and i am from lynn, mass.

Please let me know if this lawsuit goes through.  I have been dealing with HFC for 3 years now and the interest they are charging me is crazy.  Everytime i think i'm caught up it seems as if they hold the check so the payment is late and more late charges to my account.  I've tried several times to work something out with them and the same thing keeps happening every month.

My husband and I have had nothing but grief with HSBC Beneficial. We took out a 2nd on our home in about 2004. At that time it was with HFC, who later was bought out by, or became, HSBC Beneficial. That's when the trouble began.

When HFC had our note we could see the balance going down monthly. Then HSBC came into the picture. Every month the balance is MORE than the month before. At present we owe more than we did on the original note! It's ridiculous!

No one will talk to you and forget it if you want to get any kind of documention from them. Supervisiors will not call you back, no one has any original loan documents or is able to give you a full accounting of payments made. If they do provide you with anything it is in a format that NO ONE can discern. And even then if you can even slightly make it out it doesn't compute or is incomplete.

If anyone has started a Class Action Suit against them, sign us up! If not, let's get this thing going. We are more than tired of being ripped off by these guys.

I to have a report on file in reference to this most dishonest company. How do we organize a class action lawsuit? These people supposedly bought the rights to service my mortgage in one of those security pool deals and wound up losing all my mortgage docs including the note, (if they ever had it to lose because that has yet to be proven.) They have tried to illegally foreclose on me, only unable to because they claim to be the owner of my mortgage and can't prove it. We need to organize against them.

My sister's husband passed away 12-25-08 and she has been dealing with Beneficial/HSBC since.  She has hired, and fired, two attorneys because they seem to tuck their tail and run from this company. 

So we filed complaints with the NC Attorney General's office.  They investigated, told her to hire an attorney because they do not handle "personal cases".  We have also filed complaints with the NC Commission of Banks, who has been investigating this case for 15 months now.  They have contacted several people at HSBC Corporate and requested information, which has never been received.  My sister has had two foreclosure hearings that have both been postponed, one by HSBC and one by their Trustee. 

 She does not have the money to keep hiring attorneys that do nothing.  We have contacted the media, but have not had a response.  We are definitely ready for the next step, because they told her that her house would be sold June 2, 2010.  I have lots of info to give on this company so feel free to contact me about a Class Action Lawsuit....and soon!!!

 

The reason any attorney won't get involved in a case is because they are fairly certain THERE IS NO CASE!  If there is NO CASE, they won't get any fee!  Yes, its that simple and no, there is not some ridiculous "grand conspiracy" to get anybody!

The "case" you guys are trying to make is that you fail to live up to your contractual obligations and the lender then begins their collections efforts.  You wanted them to lend you the money but when you don't make the payments YOU AGREED to make on time, then you cry and whine because the lender begins collections efforts!

No lender is under any obligation to "help" anyone or to "be understanding", "feel sorry", "give a break" to anyone...PERIOD!  The cold hard facts of life are when a lender agrees to lend us money, we agree to pay it back with payments on or before the due date...PERIOD!  It doesn't matter if when have a job, get sick, experience family situations or any other excuse...we are on the hook for that payment when it is due and not when we want or can pay it!

I know so many of you aren't going to like what you've just read but it is what it is.  If you are having problems meeting your obligations due to cash flow...then there is only ONE way to solve that problem...you INCREASE CASH FLOW!  You get a second or part time job or the spouse gets a job, whatever.  Sure, it isn't easy but whoever said life was?

Listen I am not talking about a case built on people who simply do not want to pay their mortgage I am talking about a bank who in their original contract states that they have these programs and they are available to their clients at anytime so that no collection activities have to occur and then when hardship occurs they refuse to honor their side of the contract and allow the person to take part in one of the programs that was promised to them in their contract.  I am talking about a bank who sends out appraisers that falsify appraisals and tell people that their house is worth more than it really is so the bank can get more money and leave you upside down on your house so you have no equity or ability to get away or to refinance with another bank. I am talking about a bank who changes some of the terms in your original contract without your knowledge or consent and then forges your name to the document.  I am talking about a bank who takes out multiple mortgages on your home without your knowledge or consent and forges your signature on those documents. I am talking about a bank who holds your on time payments(left your bank account before the due date)  until they are late so they can add additional charges and interest.  I am talking about a bank that applies your payment to someone else’s account and then takes months to correct it and then goes and reports you late ruining your credit and charges you fees for a missed or late payment and refuses to correct their mistake.  I am talking about a bank who lies commits fraud, forgery, and theft.  That is what this case is about.  That is why this bank has been sued at least once that I know of and lost and had to pay out millions. This case is based on facts and broken laws. 

 

There are a lot of hard working, responsible people out there who could never imagine that something horrific could happen to them leaving them unable to provide for themselves or to go out and get a second or third job.  These people ask for help and there is nothing wrong with asking for some help especially when that help was promised and then when it is not delivered it can be devastating.  So until you have walked a mile in their shoes you should not and have no right to pass judgment, one day you might find yourself needing help.

Contrary to what the clown stated above, (obvious HSBC employee) there are a lot of people this company has taken advantage of, more than likely during vulnerable times in their lives, such as myself.  My business professionals who had hit some bumps in the road.  The first being at the inception of our mortgage a few years back.  I was not getting a paycheck, and we had just depleted our savings and racked up our credit card as my wifes salary wasnt able to cover the mortgage and living expenses.  At this point in time, we were contacted by a Beneficial representative regrading a mortgage refi to assist with the payoff of our debt.  After seeing the terms, we had walked out.  In turn we received countless calls to come back and reassess their offer, as it will only be temporary, and as we wont have any other options.  Well we did, and we were promised that there are a few new programs that are coming out that would be perfect for us and reduce our rate from 10.3 down to as low as sub 6.  At the very least, as long as we make our payments on time for 6 month periods the rate will be reduced accordingly.  Well here we are, 4 years later, Real Estate taxes increased 110%, wifes business not doing well at all due to the economy, and still at the exorbninant rate.  We are on the brink of foreclosure and they will not work with us, stating that we have too much expendible income.  They will not however share their information leading to those results.

I have also submitted a complaint with the NYS Banking Assoc. if anyone else has any suggestions it would be appreciated!

 

The same exact promises were made to us..I would love to figure out how to get a list of who else was promised the same to group together for some type of retaliation/class action

We've had this exact same scenario happen only we went behind because they refused to aknowlege we had homeowners insurance and tacked on their insurance. Then when we wouldn't pay it (because we already had insurance and had it the whole time) they held our payment and wouldn't apply it to the loan thus acessing late fees that they never credited us back. I've got a foreclosure date of 1/1/12 after being promised that the late fees would be tacked onto the end of the loan and that no further payment was necessary for December. I have an appointment with my lawyer and because of your post I will be contacting my attourney general

please give a update.  i have call the banking of commissions for my state also.  i am working with the short dept.  i want to keep my house and they  do not care.  I cry every night when my kids aren't around.  If you have any informartion please let me know.  If i can help with any of my information I would be glad to past it on

Bottom line with HFC/Beneficial is their continual and blatant failure to disclose information that a reaonsable person would expect.  When a HFC customer asks, "What amount money does HFC require to make this loan current and safe?"  A reasonable person would expect the number to include penalities, late fees and late interest fees and late principal fees, interest and principal.  Time and time again, HFC/Beneficial fails to disclose, in telephone conversations and writing, these additional fees.  Then HFC/Beneficial adds penalities and fees on top of unpaid penalities and fees, compounding the issue for the customer and all unbeknown to the customer because HFC/Beneficial failed to disclose this information to the customer.

This is criminal because it didn't happen once, it didn't happen in just Minnesota, it is HFC/Beneficial company culture not to disclose this information, in writing or on the telephone.  It is the continual and blatant failure of HFC/Beneficial to disclose this information under reasonable circumstances that violates the law.  If other lending institutions operated this way, it would be considered normal expected operations for the lending community and the system would collapse.  It is NOT the norm for other lending institutions and therefore, what HFC/Beneficial is doing is criminal.

I don't have a loan with HFC/Beneficial.  I have never had a loan with HFC/Beneficial.  I don't work for HFC/Beneficial.  I am not a lawyer.  I don't even work for a bank or lending institution.  I am a consumer who is concerned that this company is allowed to operate this way. 

Failure to disclose, in writing, such financials matter is in direct violation of the Federal Trade Commission and lending laws.  HFC/Beneficial should be fined severely by the US government.  If the Feds knew how much money they could get from HFC/Beneficial for these violations of the law, they would be taking action now.  Forget contact your state representatives, contact the Federal government.  Let our Federal government know what HFC/Beneficial is doing and point out, there are fines to be had.

My husband and I would like to take part in the class action lawsuit against Beneficial. If you read our report, I stated we would be interested in this if anyone else is. Despite what "Jim" said, I believe we do have a legitimate case.

So then, where are all the lawyers?  They all want to make money and the more the better!  If these lawyers were so-o-o-o sure you whiners had a case, they'd offer their services on a contingent fee basis which means they don't get a penny unless YOU win.  Nobody has come forward, have they?  They hear this crap all the time.  Somebody fails to make their payment LIKE THEY PROMISED TO, the lender begins the collections efforts and all of a sudden the lender is the big, bad wolf all because the borrower FAILED to do what they promised to do...PAY ON TIME!  Then suddenly the lender is illegal, the lender is made up of con-artists, the lender is this and the lender is that.

FACT 1:  Borrowers turn on the collections efforts when they fail to make payments.

FACT 2:  Lenders have every right under the law to collect what they were promised.

FACT 3:  When the lender begins the collections efforts, the average deadbeat comes up with any imaginable excuse to discredit the lender but the lender was so great when they approved you loan, right?

FACT 4:  These whiners have nothing more than a plain and simple failure to perform under the contract they signed matter to which the lender has begun collections efforts.

FACT 5:  When you don't pay your bills and YOU turn on the collections efforts...quite obviously YOU have NO CASE. 

THAT'S WHY LAWYERS ARE NOT BANGING DOWN THE DOORS TO REPRESENT WHINERS.  YOU HAVE NO CASE TO WIN, THEY CAN'T MAKE MONEY.

No, I don't work for HSBC!  Re-read your posts.  Sounds like spoiled children here.

SHALOM!!!!!

we have been fighting with hsbc/hfc beneficial for couple yrs now payments always on time and they raised ours 300 dollars a month with out notification we have filed for help with the company and they have denied us twice now. keep plugging on we do have some help on our side but it is very frustrating long process where we get phone calls from hfc/hsbc beneficial 4 or 5 xs a day pretty much harrassing us 

Did you ask them the REASON for the $300 increase? Was there some change in value? Was there some escrow change? Do you have an adjustable rate mortgage? Is your insurance in effect? The picture you're trying to paint is out of the clear blue sky they decided to break the contract and pick on you demanding $300 more per month and when you ask them they don't give you a reason. If my mortgage company hit me with a $300 increase on a FIXED RATE mortgage, I'd be on the phone demanding answers rather than screaming fraud. So then, what did they say was the cause of the increase?

Well Jim, the lawyers are starting to line up.  My friend, who's ex-wife took out a HFC/HSBC loan and left him holding the bag, just received notice of a class action lawsuit against HFC/HSBC for violating foreclosure and lending laws.

Fact:  HFC/HSBC has violated the law by NOT disclosing reasonable information to the customer.  It doesn't matter that the people were late in making payments.  The customer, with good intent, tried to recitify the situation by contacting the company for information to resolve the issue and HFC/HSBC failed to disclose information that would allow the customer to reaonsable resolve the issue.  These are not whiners.  These customers were acting in good faith; HFC/HSBC was not.

If you think HFC/HSBC is providing good service to its customer, why don't you go work for them.  Oh, that's right.  HFC/HSBC isn't an american company.  You would have to move to CHINA to work for the Hong Kong & Shanghai Banking Corporation (HSBC).