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HSBC Auto Loan - late payment on deficiency balance


Jayla
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I had an auto loan with HSBC. The vehicle was totaled, my insuranced paid, I have a deficiency balance. I got a new loan with them for a new vehicle.

After the accident, I still made another full payment on the totaled vehicle (showing good faith to keep account current). This was before I financed a new vehicle. I contacted my loan officer, the refinance officer that helped me when I became a customer, and talked to several customer service people who transferred me all over the building. No one was able to tell me how to take care of the deficiency. I was told it would roll into the new loan (not true) and that I would have to wait to receive a letter outlining the terms, amount, and payment options for the defiency. I called several times through the automated system and it said no payment due at this time, which is why I waited to get the letter about the new loan hoping it would reference the deficiency.

Then I get a letter that said I was in default! To this day, I STILL have not received anything about the payments on the deficiency. I even got a letter asking me to purchase an extended warranty (on the totaled vehicle)! The default letter has nothing about the due date but gives the amount of the payment and call to make a payment or arrangements. I was told I would get the coupon payment slips but I have never received those for the defiency either.

When I got the default letter, I immediately called, was transferred to several people. I got someone in customer service who said it was probably their mistake. He removed the late fees and asked me to send a letter outlining what happened and they would send it to the CRAs. He even apologized. I paid the account up to date and thought it was done.

Now I get a letter stating "Unfortunately, based on the information we have, we cannot conclude that the status of your account has been inaccurately reported to the credit reporting agencies. If you are able to provide us further information to substantiate your position, please do so at your earliest convenience and we will research the matter further".

What can I do to get this late payment removed?? I have no way to prove I didn't get a letter and they are not bending on this even though I have never been late in the first loan or the new loan. This is not right! I have done everything I can to not be late. I just can't afford another late payment on my credit, especially when I have done everything I can to prevent this.

I spoke to a customer service supervisor today who gave me another number for the insurance department. She said they probably won't be able to take off the late payment. I have never had a totaled vehicle. I did not know how this would work. What recourse do I have?

Any suggestions on what I can do to get this removed?? PLEASE!! Is there anything I can send to the CRA??

I am going to start disputing other things on my credit. If this is how it works, how do I have a chance to prove anything? PLEASE HELP!

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Will the ITS really give me any leverage with them? I feel like this is a losing battle because I don't have any way to prove that I never received a letter.

I forgot something else too. I talked with some guy in customer service and he told me that a letter of apology and a correction was being sent to the CRA. I didn't get the guy's name but he was also in customer service.

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Can anyone send me a sample ITS letter? I've not seen one. Can I send an ITS to the OC? Or is this something I have to send to the CRA after debt validation??

Is this really all I can do because I really feel like I'm at a dead end because the burden is on me to prove that I did not receive a letter.

Please help! Thanks!

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Right not since HSBC is unwilling to comply with your requests, you should send the nastygram to HSBC demanding your demands, and close by stating you'll sue and request those documents in discovery.

Now if you're unwilling to step foot into court, then don't bother with ITS. it's your last step before going into a courtroom. And the burden of proof is not on you whether you received the documentation from HSBC. Did they send it CMRRR? likely not. Did they provide proof of mailing? HA!

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