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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 refunds bogus debt cancellation fee

MC in Texas said: “Noticed the Debt Cancellation fee that has been on my stmt since I opened the card. Called HSBC about the fee and they would not help me, i asked to speak to a supervisor 4 times then got hung up on by Rachel. Called back and finally got through to a supervisor who told be I would have to speak with the “insurance” company associated with that fee. The supervisor also will be sending me a copy of my application I signed so I can see where this is written.

I called 1-800-211-9972, option 3 is specifically for Debt Cancellation. Ravi took the call, barely spoke english, said he couldnt refund me but he can cancel the fee. I asked to speak to a supervisor 5 times, was put on hold, he came back saying I could get refunded for 2 months and his boss is busy, I said no i want to be refunded all my money and after 5 times asking to be put on hold for the supervisor he finally put me on hold and came back saying I can be refunded the full amount. If you need to be refunded money be strict and dont give up, they will eventually give in, giving you your refund and canceling the fee.”

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