TS in Missouri said: “The statute of limitations has passed on our HSBC account but we have tried to pay it for all of these years even after they raised the interest rates so high and closed the account long ago.
When my husband recently lost his job, we contacted HSBC to ask them if they could reduce the payment plan due to hardship and HSBC agreed to take $65 per month from our checking account automatically and that this would only be going toward the principal balance - no interest charged.
Now, 6 months later, I (we - my spouse and I) are getting phone calls from a collection agency (at my place of employment) who claim that HSBC sold the account to them and that they want the full balance now or they are going to sue us.
We have gathered all of our savings together and sold a few things to come up with a settlement and they will not accept it. They want more down and large payments per month which we just don’t have.
When I tried to explain, they said for me to prepare for court and to have my wages garnished (with a few choice words). Then they hung up. My manager must have heard me crying because he said to let my creditors know that they are not allowed to call me at work. So, now I don’t know what to do.”
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