First Union (owns HomeEq) actually took a payment off my account and applied it to someone else's account. It would not send me a print out and after 6 months when all my payments were being made started a foreclosure based upon the November 1999 payment that it removed from my account in February.
I produced the cancelled check but it still charged me title fees and attorneys fees and kept the foreclosure on my credit report until I filed a complaint with OCC.in the meantime credit cards raised my low interest to 27-
29% based upon my "poor credit report". I could not get refinancing either.
Then, First Union sold the account to HomeEq, its wholly owned subsidiary. HomeEq holds the checks a week before depositing and charges late fees. I paid the amount of late fees in a separate check according to its coupon but it was not credited to late fees. When I finally complained to OCC it reversed the late fees and apologized for the "inadvertent" misapplication of my November 1999 payment and late fees. Then less than one year later it did it again with the late fees. I have filed another complaint.
In the meantime I was forced into Chapter 7 and as soon as I filed it declared my loan in default for 2 non-payments and the late fees. I was only one payment late and it was within the grace period given its one week lag in processing and the late fees had been paid but not credited. I am still fighting this one.
In addition, the principal has been almost the same for 4 years.
Lastly, when First Union misapplied my November payment it kept harassing me at home and at work. Once after I had been on the phone with them the same day it called my neighbor to say it could not reach me and asked them to leave a note in my mailbox. While it did not specify the reason it was clear to my neighbor that it was some kind of debt collection.
Is anyone interested in a Class Action. Let's do something about this once and for all.
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