HSBC Horror Stories

RM in Virginia said: “In 2005 my husband and I bought a Suzuki motorcycle not realizing it was with a HSBC credit card. We did not receive a statement for the first payment and received a very nasty phone call from the company. It didn’t matter to them that the reason it was late was because they sent the bill to the wrong address. We still had to pay the late fee. On to present day. We refinanced our home. I called HSBC and asked for a payoff amount. Some one named “Richard” told me that it would take 15 days for them to fax the payoff amount to the lawyer but that we could send them them the a check for the balance and after the regular payment was posted. I could contact them and they could give me a refund of the difference. He gave me a payoff amount of $5,065.00.

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HD in Florida said: “At Northern Tool we accepted what we thought was a ‘1-year same-as cash’ credit line. HSBC starting sending us bills that reflected it was a regular credit line with 28% interest. We attempted to call them on eight occasions to discuss/pay the bill. Everytime we called the telephone number on the statement, after going through four prompts, a message would indicate high call volume and that no one was available to take our call. Then- CLICK. We had to set up a payment online (as we don’t mail payments) and it takes 48 hours for payments to post. These people reek of shady behavior.”

Chandra in Texas said: “I wrote to HSBC asking for a grace on over-the-limit fees and late fees. I asked for compassion and forgiveness of these charges. But instead of any understanding, HSBC sent a cold message saying the fees are due - no matter what.”

MW in Indiana said: “Aug 2008, Beneficial did not adhere to my EZpay agreement. They did not deduct my payment, stating there was a computer glitch. I was told, they can deduct the monthly payment anytime they want. I have gotten nowhere with the outsourced customer services representatives, or those located in the United States.”

JC in Washington said: “In August 2008, I had not received a statement, on August 24 I called HSBC to find out why, I was told the statement was sent. I asked what address she told me 2615 xxxx, I told her that was incorrect it is 12615. She told me my payment was due on the 23rd and its late now, and she would charge me a late fee of $39.00. I told her I did not get a statement, and it was HSBC’s mistake that it was missent. Because I gave them the correct address. After speaking a while with her she said if I could pay today over the phone she would waive the late fee. So I did. ( August 24 ).

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A person in Indiana said: “I am a current employee of HSBC/Beneficial. I have been there for 11 yrs. I have tried to quit, but with the market being so bad, there is nowhere to go. My BSM recently strong armed a fellow AE into putting an elderly couple into a 40 year mortgage to save them $50/month! These people are on a fixed income, and are suffering from blindness and ill health, but he insisted that the AE close the loan.

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CP in Washington said: ” I wanted to comment about the Sears / Roth Crabtree collections. I am taking RC to court. The person needs to check out Budd Hibb’s website and contact a NACA lawyer. Routh Crabtree commonly violate FDCPA and place non-judicial liens on properties (then foreclose) or obtain confession of judgement with very high interest rates and attorney fees. The consumer needs an advocate attorney.”

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JT in New Hampshire said: “I used HSBC through Kawasaki, to purchase my ATV, but after 4 months i paid it off due to the fact it was taking more than a week to acknowledge payments, sometimes incuring late fees. It took them 2 months to acknowledge the acct. was paid off and to return the “release of Lien” to me.

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