• Report: #809519

Complaint Review: HSBC Beneficial

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  • Submitted: Wed, December 14, 2011
  • Updated: Thu, December 15, 2011

  • Reported By: Rebecca — McDonough New York U.S.A.
HSBC Beneficial
P. O. Box 5233 Carol Stream, Illinois United States of America

HSBC Beneficial We have been with the company since 2004. when my husband retired we told them change in income and wanted to lower payments because I have medical problems. In January 2011 we asked for a hardship mo Carol Stream, Illinois

*Consumer Comment: You've got a lot of nerve.

*Consumer Comment: Not a valid complaint

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We started business with HSBC Beneficial back in 2004. When my husband retired we informed them of it. I got sick and we asked for a hardship modification and we thought it was permant in January 2011 but it turned out it wasn't and in September 2011 we agin asked for hardship mod and we sent documents and bank statements etc and didn't here from them and then I called and they told me they couldn't read a couple of documents so send them agin and I did certified mail. Didn't hear anything so called agin and was asked when I could send money I told them I wasn't sure when I could. They said they would switch me to a modification representive and when she came on the phone she told me to wait and she came back and informed me she couldn't talk to me on the phone and hung up. That made me mad and now we will be three months behind and not a word. I got ahold of a advocate and they told me they was wrong and that they should of lowered interest and made the modification permanent so we have hired them to investigate.

 today Dec 13, 2011 got bill say we owe them $1,416.90. They are a ripp off and there customer service is no good and they lie to you by telling you they are reviewing your modification. Everytime you call you get someone else and a different answer. we are sick of being scammed and taken advantage of.

This report was posted on Ripoff Report on 12/14/2011 04:53 PM and is a permanent record located here: http://www.ripoffreport.com/r/HSBC-Beneficial/Carol-Stream-Illinois-60197-5233/HSBC-Beneficial-We-have-been-with-the-company-since-2004-when-my-husband-retired-we-told-809519. 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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#1 Consumer Comment

You've got a lot of nerve.

AUTHOR: Flynrider - (USA)

When my husband retired we informed them of it. "  
  They don't care.  All they care about is that you repay your loan according to the agreement. 

" I got sick and we asked for a hardship modification and we thought it was permant in January 2011 but it turned out it wasn't  "

   Generally a forebearance can be quickly granted for something temporary, like an illness.   They were under no obligation to give you a break back then, but they did.

in September 2011 we agin asked for hardship mod  "

   This is probably about the time they realized that you were not going to be paying this back.  

was asked when I could send money I told them I wasn't sure when I could.  "

  That probably sealed the deal.    Lenders rarely do modifications.  When they do, it is only for people who have a good chance of turning things around and getting back on track.   What I get from your post is that you think your loan should be reduced just because you can't afford it anymore.   It really doesn't work that way.    Ultimately, the lender is going to decide how they can get out of this with the least amount of loss to themselves.  That doesn't make them a ripoff.  They're actually the victim in this case.  From what you have posted, they held up their end of the deal, you did not.
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#2 Consumer Comment

Not a valid complaint

AUTHOR: coast - (USA)

The bank is not required to honor your request for a loan modification. You were not swindled and there was no fraudulent activity by the bank; therefore, you have not been scammed or ripped off.
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