HSBC Fouls Up Automobile Loan Lien Releases
KT in North Carolina sends are report that echoes so many others on this subject:
“I bought an automobile with an HSBC loan in 2004 which was paid off in 2005. There was no history of late or missed payments.
What we did miss, was that we never got a lien release letter from the company. Two months ago, we sold the car and realized at that time that we did not have a title. We inquired with the state DMV and discovered that we needed a lien release. We have been trying to get this company to send us that simple letter for more than two months now, with no success yet. These people are bad dealers that can’t even get the simple stuff right. Needless to say, they’ll never get anymore of my business.”
Editor’s Note: And HSBC in London is fat, dumb, and happy - and shall forever wonder why they will never get a strong foothold in the United States. Another black mark for HSBC Finance Corporation. This has been an on-going problem long before HSBC bought Household International. Part of the problem is HSBC does not know how to locate the titles to many of the vehicles they finance. The vehicles could be stolen for all they know.
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