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RS in West Virginia said: “I have been talking with representatives for more than one year trying to work through a hardship program and reduce the interest rate for my Value City credit card. I am amazed at how difficult HSBC is to work with in trying to resolve problems and accept payments.
I have other accounts which have been more than willing to assist in regards to my circumstance and ability to complete payments.
Long story short my husband is critically ill and has been hospitalized a large portion of this year as well as last fall. As a result we have many medical bills in addition to a reduced income.
However, I am still trying to make payments and maintain my credit. After many failed discussions I am planning to file a complaint with the Better Business Bureau regarding HSBC’s unwillingness to cooperate.
It is a terrible situation where a company like Value City can file bankruptcy and not complete their payments, but individuals who are trying to pay off their debts cannot receive any flexibility in paying debt!”
Editor’s Note: We (Household – HSBC Watch) started warning readers about HSBC and Value City in 2005, citing reports from as early as 2003. Regarding all merchants aligned with HSBC we are, without a doubt, in troubled economic times. However, we do ask if these stores going with HSBC may have some sort of connection with their financial issues. Many HSBC merchants declared bankruptcy and while some reorganized many never reopened.
In October 2008 Value City Department Stores filed for Chapter 11 bankruptcy and liquidated its remaining 66 stores, citing a slide in consumer spending and tougher credit markets. Over 4000 people lost their jobs.
This article, HSBC adds interest to Value City account with hardship, is just one of our articles from Bank Horror Stories, HSBC Secrets
Bank Horror Stories monitors banking problems and customer complaints and has done so since 1999. Writers hold no stock positions. Some material is used under the fair use copyright act.
We use Thomson Reuters News Service Calais in all production material but are not associated with Thomson Reuters, banks, or financial institutions in any way.
