- Report: #752613
Complaint Review: Orchard bank Household bank
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| Orchard bank Household bank 1301 E. Tower Road
Schamburg, Illinois United States of America |
|
Orchard bank Household bank Fraudulant Schamburg, Illinois
*Consumer Comment: Before You Go To Court....
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I had a credit card with orchard bank several years ago. It was a secured card. I had to open a savings account of $400.
The terms of the credit card were if I defaulted on my payments they would take the money I had in savings.
I defaulted on my payments and I never heard from the company for a number of years.
I assumed that they had taken the money that I had in savings and that the matter was settled. I had learned tonight that they are now trying to sue me for nearly $5,000. They are claiming that the principal amount is $537 approximately and that $2,000 is interest and that they are sueing me for about $2,000 in attorneys fees and court costs.
Today they tried to serve me with a summons to appear in court, but they tried to serve me at my dad's house in Nebraska. I never provided the company with this adress. I called their collection agency and they said that they hired a private investigator to find me.
Funny thing is they never tried to serve me at my home which is the adress that I lived at when I applied for the credit card and the adress they have on file. So the company is harassing my elderly 73 year old father over this matter.
When I called the collection agency, I told them I wish to go to court to settle this matter. They said the judge wont listen to me and they will take everything that I own. I told them I will take my chances and explain to the judge that I do not feel I owe them any money and I am confident if I have to pay them any money that I will be able to get the judge to make me pay less money or get lower payment terms.
The terms of the credit card were if I defaulted on my payments they would take the money I had in savings.
I defaulted on my payments and I never heard from the company for a number of years.
I assumed that they had taken the money that I had in savings and that the matter was settled. I had learned tonight that they are now trying to sue me for nearly $5,000. They are claiming that the principal amount is $537 approximately and that $2,000 is interest and that they are sueing me for about $2,000 in attorneys fees and court costs.
Today they tried to serve me with a summons to appear in court, but they tried to serve me at my dad's house in Nebraska. I never provided the company with this adress. I called their collection agency and they said that they hired a private investigator to find me.
Funny thing is they never tried to serve me at my home which is the adress that I lived at when I applied for the credit card and the adress they have on file. So the company is harassing my elderly 73 year old father over this matter.
When I called the collection agency, I told them I wish to go to court to settle this matter. They said the judge wont listen to me and they will take everything that I own. I told them I will take my chances and explain to the judge that I do not feel I owe them any money and I am confident if I have to pay them any money that I will be able to get the judge to make me pay less money or get lower payment terms.
This report was posted on Ripoff Report on 07/13/2011 06:46 PM and is a permanent record located here: http://www.ripoffreport.com/r/Orchard-bank-Household-bank/Schamburg-Illinois-95161-9352/Orchard-bank-Household-bank-Fraudulant-Schamburg-Illinois-752613. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.
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Before You Go To Court....
AUTHOR: Jim - (U.S.A.)
SUBMITTED: Wednesday, July 13, 2011
I would try to negotiate a final payment that would result in a payment in full for all outstanding issues. I mean a lot of this is your fault; you may have an understanding as to what the terms are, but what you described is NOT how secured credit cards by anyone, including HSBC work. They won't generally go after your savings account to settle the final payment because it will never end up getting settled. I suspect your savings account may actually be gone due to the amount of bank fees; you need to check that out too.
I think the $2000 is more than just interest; HSBC is notorious for issuing credit cards with heavy fees. If you're in a position to pay, I would offer the $537 only and tell them you'll pay this amount right now IF they settle the entire debt in full. If you don't have the money to pay, then you have nothing to negotiate with them. Now, it's going to cost them more in labor to go after you for the interest even in a small claims situation and they won't get the entire amount of interest anyway, but they will get more than $537 and worse....is that you'll have a judgment against you which is hard to get around when you need to repair your credit. Speaking of credit, I think your credit score is going to get dinged as well as a charge-off, but if you're an HSBC secured credit card customer, you already have really bad credit, so no loss there.
I would avoid court because the judge will assign you some of the interest cost. Next time, don't default on your card, no matter what. In fact, the way in which you referred to your default of a credit card...tells me you should not have a card - period. Sorry....best of luck to you.
I think the $2000 is more than just interest; HSBC is notorious for issuing credit cards with heavy fees. If you're in a position to pay, I would offer the $537 only and tell them you'll pay this amount right now IF they settle the entire debt in full. If you don't have the money to pay, then you have nothing to negotiate with them. Now, it's going to cost them more in labor to go after you for the interest even in a small claims situation and they won't get the entire amount of interest anyway, but they will get more than $537 and worse....is that you'll have a judgment against you which is hard to get around when you need to repair your credit. Speaking of credit, I think your credit score is going to get dinged as well as a charge-off, but if you're an HSBC secured credit card customer, you already have really bad credit, so no loss there.
I would avoid court because the judge will assign you some of the interest cost. Next time, don't default on your card, no matter what. In fact, the way in which you referred to your default of a credit card...tells me you should not have a card - period. Sorry....best of luck to you.
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