• Report: #149291

Complaint Review: Household Auto Finance - HSBC Auto Finance

  • Submitted: Mon, July 11, 2005
  • Updated: Tue, July 12, 2005

  • Reported By:Noel Missouri
Household Auto Finance - HSBC Auto Finance
PO Box 17902 San Diego, California U.S.A.

Household Auto Finance - HSBC Auto Finance RIPOFF, BUYERS BEWARE! San Diego California

*Author of original report: Update July 12th, 2005 Reinstatement department

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I co-signed for my daughter for a ford explorer on 5/7/2004, she traded in her 96 chevy cavalier for the vehicle through Household Auto Finance, aka HSBC Auto Finance.

When the second monthly payment came due, we started receiving phone calls repeatedly. My daughter had showed me the receipt of the money order, and they repeatedly continued to call. Til today, it is a year later, we are still receiving phone calls, in April or May 2005, HSBC sent the contract to a 3rd party collections, and repossessed the vehicle.

HSBC Auto Finance then sent a Modification agreement to me, stating, that if we want the vehicle back, it would take $625 and sign and fax the modification agreement. We sent $625 via western union, and faxed over the modification agreement as stated in the modification agreement. We had to drive to Kansas City a 3 hour drive to get the vehicle back into our possession.

The Repo Department at HSBC, and the modification agreement both stated that the $625 and signing the modification would bring the vehicle current and the new modification due date would not start until June 1, 2005.

My daughter had started sending the payment via Money Gram/Western Union so HSBC could not claim they were not receiving payment. We have paid on the vehicle for a year and 2 months now, and the amount owed on the vehicle is still up to $11,000. When the original amount after the trade in of the cavelier was only $10,722.50.

Today we are still receiving anywhere between 3-5 phone calls a day (sometimes more), stating that we are past due, remind you we have signed and went by the modification agreements terms. And paid the $625, and the payment was lowered from 312/mo to 209.48/mo.

We made payment in May, a month in advance of the new agreement, and they are continuously calling us stating that we are late.

We have informed them on each phone call we answer that they are being recorded due to the fact they are still calling, knowing they have received payments on time. We have 5-6 tapes front and back recorded messages between us and the company.

Today they (HSBC Auto Finance) called July 11, 2005, a Gentleman spoke to my daughter Dawn, and my daughter informed him that she was recording him, and he gave us some pretty interesting information.

He (Anad) a collection department rep., said there has been 3 payments that have not been going toward the principle nor the towing fees.It was going toward interest. Which he too found it very interesting, since we had signed and agreed to the modification terms.

The towing fees were to be placed on the remaining balance of the balance owed on the vehicle. Which was a verbal agreement between the Repo Rep (Tamiko Little) who was working our contract in the Repo Department, who was also in charge of the modification agreement.

We have called every department, been harrassed daily on the phone, and getting the run around when we call to get the matters fixed.

I hope that the people who read these ripoff reports will think twice before doing any dealings with this bank.

Also, around the time I co-signed for my daughter, someone has been fraudulently using my name and social security for cellular phones. I believe that somewhere along the line of my buying the vehicle, my identity has been stolen, from HSBC Auto Finance.

I reported the usage of my social security and called the company who was sending me bills, and the person using my identity was out of Colorado. Where some of the salesmen were from at the place I bought co-signed for my daughter.

So buyers Beware! Don't settle for just any company, do research, because its hard to find a lawyer to deal with cases like this!

Noel, Missouri

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This report was posted on Ripoff Report on 07/11/2005 12:43 PM and is a permanent record located here: http://www.ripoffreport.com/r/Household-Auto-Finance-HSBC-Auto-Finance/San-Diego-California-92177/Household-Auto-Finance-HSBC-Auto-Finance-RIPOFF-BUYERS-BEWARE-San-Diego-California-149291. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

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Updates & Rebuttals

#1 Author of original report

Update July 12th, 2005 Reinstatement department

AUTHOR: Janice - (U.S.A.)

Update for July 12th, again, I am receiving phone call after phone call! I spoke to the Reinstatement department after I first filled a report on here, lol, and the reinstatement department claimed they were fixing my account as they have continuously have promised the past year.

The lady I spoke to yesterday stated all my payments are going toward other fees, which again did not go toward my principle, nor the other fees, except interest, seems aweful funny that the interest, nor the principle has gotten paid.

Today I get a call from HSBC, and the lady i spoke to said that she sees that I had requested an extention on the account, which was very incorrect, these people are ignorant, they apply what they want, they do not listen to a word you are saying, and I can honestly say this is the worst company to ever deal with! like other consumers who have been through this with this, so called business, I hope that other people will be cautious and rethink ever getting loans through this joke of a company known as HSBC Auto finance aka Household Auto Finance!!

BUYERS BEWARE!! Cause this will happen to you as well if you do dealings with this paticular company!!
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