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Okay, does anyone know if they accept you on a debt consolidation program or not??? I've had this account for a while--the interest rate is high and the balance is actually higher now than what it was when I first took the loan out about five years ago. I was in debt consolidation a few years ago and had them on it. Now since going back into debt consolidation, I have put them on the program again. I was a little behind, one payment behind and getting close to the second one being due. Freedom point (my consolidation group) said thats not a problem, as long as I haven't been contacted by the courts. they said they take accounts that are in collections, write offs and accounts that are still good but just behind...as long as none of these have contacted you through a summons. they won't take it then. HFC continues to call my home every day. If they have a problem with the program, they are suppose to contact freedom point, right? not me. anyone have them on a program? I just don't want to get sued because I'm thinking things are cool with the program and they're not. thanks ,shirley

Posted: Wed May 17, 2006 1:22 pm Subject:

The HSBC will work on the consolidation program if they have to get their payments back. The company will understand that even though you are going through some financial problems, you are taking your responsibility in paying the account. I hardly think there is a reason to deny the proposal unless they are hard to deal with.

Well, your consolidation company will be making the contacts and work out a payment plan. Even if HSBC rejects the proposal and takes the matter to the court, you and your consolidation company have proof of your side of the story. This will place you towards the comfortable side.

Posted: Wed May 17, 2006 1:43 pm Subject:

Shirley,

BEWARE!!!! HSBC will sue if you are one month behind. I was in consolidation and HSBC didn't post the payments then had me served with a summons and lied on the paperwork that they had no knowledge of any payments being sent. T&C got copies from the bank proving that HSBC had been receving payments and cashing them. They will screw you over and the attorney who represents HSBC for Tennessee is the famous Finklestein, Kern, Steinberg & Cunningham. They are liars and they violate the laws of the FDCPA according to an attorney that I very recently spoke with and stated that I have a case against HSBC and against the lawyers. Be careful Shirley.

Posted: Wed May 17, 2006 3:30 pm Subject:

Posted: Wed May 17, 2006 4:24 pm Subject:

well, its actually HFC but they are in part of HSBC, right??? they have HSBC in small print on their letter head. THey received the money that freedom point sent because its been posted to my HFC account (I checked online)...but I got an email from HFC stating that I still owe the balance of what I'm behind on.They accepted me on it before, a few years back. so, what should I do now? drop them from my consolidation program and catch them up asap? Freedom point says it usually takes three months before they really accept you on the program and may continue to hear about being behind until three payments in a row are made. maybe I should email HFC and see if they're going to accept me on the program? they cashed the payment which freedom point warns that if they cash, its an agreement? thanks guys.

Posted: Wed May 17, 2006 4:40 pm Subject:

also, I just went to the HFC website and checked my account. My payment WAS $149.00 but now they have it down as my regular payment being $105 a month. this is the payment that freedom point set me up on. They have my payment posted from freedom point too, the $105 for May. so it appears that I have been accepted. since they give no information for you to email them--I will have to sit down and write them a letter and ask point blank, if I am accepted on the freedom point program? thanks shirley

Posted: Wed May 17, 2006 5:14 pm Subject:

Make sure they have a signed proposal from HFC/HSBC. If they did sign the proposal, request a copy of it. If the consolidation company fromt the way I understand it is if the company cashs the check, then they are accepting the payments. Keep on top of it and make sure they post every payment.

Posted: Wed May 17, 2006 8:23 pm Subject:

thanks Tammy!!!! love your avatar!!!!! my daughter loves pandas and collects them!

Posted: Sat May 20, 2006 12:24 pm Subject:

Hi! I got a letter from HFC today accepting me on the debt consolidation program. They dropped my interest down to %6.
but they add in the letter something that I'm not sure about---
"Please note that if the agency payment is less than the full standard HFC payment, the account will continue to be delinquent until it is brought current"....?????????

They also show me past due because I was past due when I went on the program. freedom point said as long as it hasn't went to court, they can help.
HFC thanked me for making an effort and joining debt consolidation. anyone make any sense of this? thanks, shirley

Posted: Sat May 20, 2006 1:46 pm Subject:

Sounds like they are saying they will work with the consolidator, but the consolidator better send them their standard payment or they will still consider you as delinquent.

Posted: Mon May 22, 2006 5:17 am Subject:

Have you informed your consolidation company about this letter? I think they can handle the situation. Clay seems to be right. However, as they have dropped the rate of interest, your monthly payment is likely to go down, isn't it?

Posted: Mon May 22, 2006 3:55 pm Subject:

Hi Stanley!!! yes I contacted freedom point, they said HFC has agreed to the program and the payment, but they suggest that I raise my payment a little higher every month until my 'past due status' is paid and then put it back down to where it is now. I am pretty happy with freedom point...they seem to be really looking out for me. this has taken a huge weight from my shoulders..plus with interest rate drop to 6%, I will get it paid off alot faster. thanks!! shirley

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