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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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HSBC excuses for your Musicians Friend account late fees

A Mississippi resident said: “I have a HSBC Musician’s Friend account and since I have had the account, many of my payments were posted late that were sent out on time and I was charged late fees, and when I complained they had many excuses from “it went to our other office by mistake” or “we didn’t receive it.”

I ran into to some financial issues and was going to be unable to pay my bills for a few months, so I called all service providers and requested a deferred payment or lower rate and all agreed, but my bill showed continuous late fees from HSBC.

When I contacted them regarding the issue, they said who ever made that decision did not put it in the computer as such, so I would be charged late fees. I have been trying to get them paid off but the 26-30% interest rate is ridiculous and after requesting a lower rate or pay off amount with no help I am tired and hope HSBC is STOPPED at once, because they are truely a rip off company.”

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