I started using HSBC Bank of Navada's Orchard bank Secured credit card several years ago I paid for a service called Account Secure Plus during this time at $9.00 per month. The service insured that in the event of a qualifying event ie a job loss, disability, birth of a baby, hospitalization and the starting a 4 year college your card will not get behind. This service makes the minimum payment on your behalf for the month.
In 2009 I had 3 separate qualifing events in consecutive months. I submitted the paperwork for each, and when it was time to make a payment I called the call center to inform them. Each time I was told it was fine.
Shortly thereafter i started receiving collection calls from there collection department saying they couldn't honnor it, and I needed to make a payment now. TFor the most part they were alright to deal with but I couldn't make the payment hence I had this service. I called the Account Secure Plus and they LOST all three separately mailed forms! It seemed unlikely I resent them and gave the info over the phone. The credit card company was reporting me 3 months behind, I was broke, the account secure plus never denied my claim but never paid it either. It was either lost or in limbo every time I called. Finally it was sold to a collection agency, with lots of extra fees and I paid it off to salvage my credit.
Now nearly a year after I paid it off and almost a year and a half since the account was closed, I received a letter from HSBC Card Services...
"Our records indicate that your account has an Account Secure Debt Cancellation product on it. You had previously filed a claim for a personal milestone benefit. Under this benefit certain fees were to be credited to your account for the month (s) of the qualifying event. The required credits for this claim were inadvertently not posted to your account. Adjustments related to the issue will be credited with in two billing cycles."
Being that I paid the account off, plus paid past due fees, collection fees, and suffered a huge hit on my credit score... I think I should receive a refund for the amount owed. However HSBC feels it is their money and is keeping it. Even though it is there error. I don't even have an account to credit for the money they owe.
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