I have had a personal loan (off & on) since about 1975. I re-upped the loan 03 in las vegas, nv. I had emergency brain surgery on 2-10-07. After about 2 months of recovery, i negotiated pay-offs for all 13 creditors i owed. I was told i had insurance (disability) on this account. It was instigated immediately. I was then awarded S.S.D.I.By social security. I asked both beneficial & HSBC (insurer & owner of beneficial) about arrears & was told (both by phone) that ALL would be taken care of. Now it's 5 years later, hsbc paid approximately $12,300 on a $7950 loan before the disability insurance reached a cut-off date. This is about 54% on a loan with 29% interest. Now they've sold it to a collection agency, who says i owe over $5000. That's because (so they say) of arrears owed! They"ve been paid-in-full as far as i'm concerned. This is one more example of big finance business sticking it to the little (& broke) guy!
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