HSBC Horror Stories

DW in Illinois said: “I purchased a TV from Best Buy 18 months ago, interest-free. I have had such promo deals many times before with other companies. I never sign up for any kind of credit life insurance, debt cancellation of any kind. After four months I realized the balance was off and found out that I was paying a debt-cancellation fee. Stumped as to how it could happen I asked them to check and they said they could not but would cancel it (on my phone call only which was curious). I paid off the promo amount this month, due 14 May 2008, applied to my account on 2nd of May but was left with $72.95 balance. Yep! Debt cancellation fee left over somehow.

This time I was told they CAN get my paperwork, so I am curious to find out how they got me to sign up for it. I plan to submit a complaint to the Illinois attorney general. I just called Best Buy to cancel my account and gave the reason “because you do business with HSBC that fraudulently signed me up for debt cancellation.” I will find out any other companies I buy from whether they also do business and cancel my accounts there as well.”