Complaint Review: HFC Beneficial HSBC Household Finance

My ex-husband and I financed a car through HSBC in October 2001. I was the co-signer on the car. My ex-husband made payments on the car until about May 2005. I wasn't notified that he had stopped making payments. The next thing I knew he told me the car was repossessed. I contacted HSBC but I was not given any information about the resale of the vehicle. I was told the case was transferred to HFC, the collection agency for their company. I contacted them and was told that he had been offered a settlement agreement for $2051. I started making payments of $300 a month to pay off this debt. I had a financial issue and I was about two or three weeks late on one of the payments. I called the person I was working with and told her I would pay off the remaining balance when I received my tax refund in February 2007. I was then told that I had missed three payments (which I did not) so my account was transferred to their legal department. Now the balance owed is $9862 including legal fees and interest. The company made an offer in March 2007 for me to pay $1000 down and $300 a month, but my car broke down and cost $1600 to repair and I was unable to come up with that money in 7 days like they were asking. They then began to garnish my wages in June 2007. The garnishment ended in August 2007. I received a letter to appear in court in December, but then a few days later noticed that my bank account was showing -$8732. They placed a freeze on my account which left me no money to pay my rent or any other bills for that matter. I made some calls to the attorney (Glasser & Glasser) and was met by rudeness from someone in their collections department. I also contacted HSBC again and spoke with Jocelyn Boone. She seemed to be the only person that was helpful. I finally obtained the information about the resale of the vehicle. The car was resold for $2100 leaving a balance of $8062. I seriously doubt that was the remaining balance since he had paid for the car for almost four years before it was repossessed. It was only a five year loan. These people don't care that they leave people destitute and with no means of survival for their family. They are not trying to pursue my ex-husband because they say he lives out of state so there is nothing they can do. I just think I am the closest target so why not take me out.

Arnitra
Suffolk, Virginia
U.S.A.