Impound Charge, but Never Repo'ed, Never Late

dennisdelisle · #1 10-24-2007, 08:23 PM

I've never missed a payment, and never had a repo, but HSBC is charging me a $20 impound fee. I tried calling but can't get passed the computer secretary. I tried EMailing but there web site says they cant except EMail due to the Cal. wild fires. Why would I be charged an impound fee? again current and always has been. Any help would be nice.
Thanx - A little scared

Mr. Knowitall · #2 10-26-2007, 08:27 AM

How incredibly annoying. If it were me and this were going to threaten my credit report or timeliness of payments, as it's "only $20", I would pay it and try to get it reimbursed or credited to a future payment. But from what you have said, I have no idea why they would assess an "impound fee".

dennisdelisle · #3 10-26-2007, 07:04 PM

thanks, good advise. I'll update when I find something out.

dennisdelisle · #4 10-29-2007, 08:18 PM

though I still can't get intouch of a live person, statement shows that "impound charge" as a "DMV fee". I did pay, but still confused.
$20 isn't much, but I did sweat for it and would like to know what I'm sweating for. (Reside in MD, HSBC in Cal)

morrisosu · #5 11-16-2007, 10:13 AM

Hey I wanted to give ya some info on this fee. I got hit with the same fee and it appears to be a legit fee, however there is a glitch in HSBC's website that lists it as an Impound Fee. I finally got though to someone after going though hell on the automated operator and was explained to that it was a title processing fee from when I first got the loan from the state, it just takes time to be charged. This scared the daylights out of me when I viewed my account online and it called it an Impound Fee!

Hope this helps!

-Shane

amaze122 · #6 02-15-2009, 04:33 PM

morrisosu said:

Quote:

Hey I wanted to give ya some info on this fee. I got hit with the same fee and it appears to be a legit fee, however there is a glitch in HSBC's website that lists it as an Impound Fee. I finally got though to someone after going though hell on the automated operator and was explained to that it was a title processing fee from when I first got the loan from the state, [COLOR="Yellow"][COLOR="Red"]it just takes time to be charged.[/COLOR] [/COLOR]This scared the daylights out of me when I viewed my account online and it called it an Impound Fee!

I can understand this taking some time, but this happened to me just now, and I am two payments away from paying my car off! And in my case, the "impound fee" is $101.00... I hate the prospect of it, but I may just have to pore over 5 years of online records to see if a title processing fee has been charged previously.