DMP nightmare

Posted Fri June 13, 2008 6:22 pm, by Juan M. written to HSBC Bank USA

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I was on a Debt Management Plan (DMP) with your company for the last 3 years. I made 2 late payments within the last year and was dropped from the program (without being contacted). Therefore, my account began to incur late fees each month. The payments were late because my wife was out of work for most of the past year and I did my best to keep paying bills on time.

I was not aware of this whole ordeal until I received a letter four months later from HSBC saying my account was past due. Of course, this came as a surprise to me and I contacted your company immediately through my DMP lawyer. I was told by a customer service agent that I would still have to pay the late fees but that I could resolve the situation by submitting a new DMP proposal via fax. My lawyer faxed this numerous times within the next three months, but every time we contacted your company to follow up, a customer service agent would say that they had not received anything and that it was probably still being processed. They gave me two other fax numbers to try. I even spoke to a supervisor which assured me he would look out for our fax, but again, I never heard back from him and the fax was never received.

During this process, my account was reported to the credit bureau as 30 days / 60 days late. I have since paid my overdue balance to avoid further adverse credit reporting.

I would like to thank HSBC bank for extending this credit opportunity to me and apologize for my economic hardships. I would like to continue doing business with you in good standing and good will. I believe I have shown a great willingness to pay on my account every month and an extreme effort to make my account current even though your fax system is extremely flawed. I humbly request that my account be re-aged to remove the past lates that were reported to the credit bureau. I would greatly appreciate this as I am trying to take advantage of credit opportunities which will not be available with this negative credit impact.

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Are you FREAKING KIDDING ME? by RedheadwGlasses Posted Sat June 14, 2008 @ 11:50 AM You got in over your head with debt, got debt counseling for it, couldn't even follow that correctly, and now you want them to remove the late fee reports to the credit bureaus? How fair is that to people who pay their bills on time, all the time, without any debt counseling or lawyers? Your negative credit impact is your own doing. Have you learned nothing from your past mistakes? People like you piss me off and sicken me. Be responsible for your bills, quit whining about the negative effect your past actions have on your future ("Oh no I won't get a low interest rate on my next credit card if my credit report doesn't get cleaned up!"), and stop complaining. You've been given enough chances. This kind of attitude infuriates me. Reply AirHeadWGlasses ?!?!?!? by Juan M. Sat June 21, 2008 @ 7:34 PM