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HSBC is cutting back in the U.S. after its 2003 purchase of Household International Inc. required it to set aside more than $65 billion for bad loans

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A theory about HSBC and stop payments

TM in California said: “I’ve been with HSBC since 2006 and they are the biggest rip offs I’ve ever seen. They charge late fees for payments made. they add on additional money from the original contract amount. Since HSBC only charges $9 to $10 dollars they don’t think you will notice, but just think $9 or $10 dollars on a 71 month contract how much does that add up to?

I wouldn’t have noticed until they stated that i made 2 stop payments that were never made. For instance say you made 2 payments in one month and you put a stop payment on 1 of them HSBC will void both payments, wait about 10 days, then they give the payment back with late fees and other charges attached.

HSBC’s customer service and collections department are so rude it makes you not want to answer the phone when they call from those many numbers they use.

It’s also bad business when you can’t talk to someone in charge like the corporate office if there is an issue because there representatives don’t even speak English or there disrespectful like we owe them personally.

I’m thinking about contacting the local news because this is ridiculous. HSBC does not own up to their mistakes. They try to clean it up and retro the dates. i will NEVER do business with any HSBC user again.”

Posted By Timothy Blake

HSBC Watch is a watchdog and consumer activist coalition.

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UPDATE NOTE: HSBC car loans were sold to Santander USA in 2010 :: Most HSBC credit cards became Capital One credit cards in 2012 :: HSBC horrible predatory home mortgages are in run-off