HSBC Watch News Release Forum Index
Forum Name: - HSBC Auto Finance
Topic Title: Never Late, Auto Payoff Too High
Sun Mar 19, 2006 10:45 pm
BF in Pennsylvania said: "I financed a new car thru Household Auto Finance. Who in turn was bought out by HSBC. When I had called to get a payoff on my vehicle, which should have had only one payment left at the time, I was quoted a payoff figure much higher. When I asked why, I was put on hold for about 10 minutes (ridiculous). They then proceeded to tell me that due to my bankruptcy, they put a 3 month extension on my loan. Now, they never told me about this "extension" via mail or phone. Or why would a finance company do this if no payments where late or missing. I am highly upset over this. I figured I would get nowhere with them on this. I have written them letters requesting them to send me a statement or payment history on my car. They don't respond whatsoever. I give up."
Editor's Note: This tactic by HSBC Finance Corporation is illegal and should be reported to your state attorney general and the OCC.
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