I had to get a loan in May of 2007 so that I could pay my taxes. The only place that I found that was willing to lend me the money was Beneficial HSBC at the time was in Glens Falls NY. I payed off the loan September 2008 with a 25% interest rate. I have the papers on their letter head and a big red PAID stamped on it.
Then Beneficial HSBC offered me a credit line, they said my credit line was good for $10,000.00 I was talked into getting unemployment insurance, and was told that If I lost my job that the loan would be payed off. This sounded like a deal to me at the time. I had the loan officer repeat what he said. I not only find they changed the the unemployment insurance to life, auto,& home insurance, when the Glens Falls branch closed, April 2009 my credit limit was re-set to $11,000.00, the interest rate was actually lowered to 23 1/2% but they tacked on to my bill $3,798.58! The payments went from $174.00 in December 2008 to $263.00 in January 2009. I called their Customer Service to ask why and how the bill was now so mush more, all the guy said to me was that I just have to make more payments if I want the bill to go down, I asked about lowering the interest rate and he said that there was nothing that could be done.
So I continued to pay the bill when it came. When I be came unemployed I sent in a 1/2 payment. Then they wanted to talk.
I got a call in October asking me to pay the bill, I explained to the person that I was now on unemployment and no longer had the money to pay the bill. She gave me an address and told me to send a copy of my unemployment statement. So I did.
I got 2 letters from Beneficial HSBC, in November, one was marked 10/15/10 and asked that I make 2 payments of $120.50, one on 10/14/10 that was past, and another payment by 12/13/10 or they would not cancel my loan, they would not modify the payments. And they are clamming a security interest in my property.
The second letter dated 11/02/10 wants me to pay $604.50! And Beneficial HSBC has been calling my house every day to tell me that I owe them money 4-5 times a day even on the weekends.
When I call them to try to straiten any of this out I can not even get to a real person.
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