ED Magedson – Founder
Beneficial - hsbcP.O. Box 5233 Carol Stream, Illinois United States of America
In 2007 I was diagnosed with a life threating disease and was forced to leave my job and we fell behind on our mortgage payments(2 1/2 months) So in December we called Beneficial and asked what could be done to get us current. They said make a payment of $1,200 and change and that what would bring the account current, they would take the rest of the past due balance and put it on the back of the loan and our next payment would be do March 24, 2008 that was perfect so on December 21 they took the money and all was suppose to be good. March 20, 2008 the phone rings and it is Beneficial, they are claiming we are 26 days past due I said that is impossible the payment is not due until March 24 they said according to their records it was due February 24 we explained the contract that we entered into in December and they did not seem to care so I said fine make the payment I was going to make it in 4 days anyway and we would call the gentlemen we made the contract with on Monday and get everything cleared up, big mistake, huge mistake once we agreed to pay we voided the old contract and entered into a new one but I did not know that at the time.
On Monday we called Alex (the guy we made the contract with) and left a message. Well this went on for months he would not take our calls or return our calls we finally spoke to some that agreed to take our proof and submit it to the review department. Months go by we get a phone call from Beneficial collections department and they tell us that they chose not to honor that contract(I was not aware you could pick and choose what legal binding contracts you were going to honor). Then they began foreclosure proceedings. We fought them for months they were instructed they had no choice but to honor the contract and they promised they would and then did not we were getting nowhere.
In late November we got a phone call from them and they say they do not want to foreclose can we work this out we say sure what choice did we have.You will never believe what they suggested you guessed the same deal we got shafted on the first time. I explained why we were hesitant and they kept assuring us that that was a fluke and would never happen . So I called their attorney and they told me that because we were in foreclosure everything had to go thru them so there would be court papers with the terms on them, so we called Beneficial back and agreed to make a payment of $2,600 and change that would bring the account current, all other fees and charges were to be tacked onto the back of the loan the first payment was due February 24, 2009. Guess what non of that occurred my account is not current, all the fees are still there the only thing that did change was they stopped the foreclosure and I am still waiting for the papers from their attorney.
Now they are foreclosing again. Now I have had enough so I contacted the FTC, they said that what they did amounts to Felony Theft by Deception and Fraud, they said I should contact the Attorney General's office, the Bank of Commissions for my state and an attorney. I filed complaints with all of them and over the next few days I have scheduled interviews with 4 news stations (3 local and Fox News) this company has to be stopped, they are destroying peoples lives and getting away with it I am prepared to do whatever it takes to stop them. I am trying to put together a class action lawsuit against the entire company not just the mortgage division because they have the same corruption no matter what division, if you have been wronged by this company and want to come forward and be part of the lawsuit please get in touch with me.
This report was posted on Ripoff Report on 11/12/2009 11:30 PM and is a permanent record located here: http://www.ripoffreport.com/reports/beneficial-hsbc/carol-stream-illinois-60197/beneficial-hsbc-hsbc-hfc-fraud-theifs-the-most-dishonest-corrupt-company-carol-stream-523279. 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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