HSBC Watch News Release Forum Index
Forum Name: - HSBC Auto Finance
Topic Title: HSBC Refuses Letter of Consent to U.S. Military
Mon Apr 03, 2006 7:45 pm
JW, U.S. military stationed in Germany, reports more abuse of the U.S. military by HSBC. Read the snotty tone of this HSBC postion: "I am trying to sell my vehicle, which is financed through HSBC Auto. To sell a US vehicle in Germany the US Military and US Customs requires a Letter of Consent from the Lienholder (HSBC) allowing me to do so. HSBC will not release a letter of consent to sell. They say it is not a normal practice and I should be "lucky that they gave me permission to ship my vehicle overseas, what else do I want from the company?" I told them I wanted to payoff the loan by selling the vehicle. So now I am stuck seeking legal assistance from the local Military Lawyers just so i can get a letter of consent to sell my vehicle. I think HSBC is just upset that my loan was for 34,000 over 6 years, i've only had the loan for 2 years and only owe 15,000 and have only paid less than 2,000 in finance charges at 3.9%. They are not going to be able to make more money off of my loan, so they will not allow me to sell my vehicle! The Manager I spoke to at HSBC said that if I didn't get the letter from HSBC that it meant I couldn't sell my vehicle. They are forcing me to stay in a loan that I am trying to payoff within the next 10 days."
Editor's note: See a detailed report of HSBC's military personnel abuse here in our blog!
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