HSBC Horror Stories

JB in Pennsylvania said: “I wish I had known about this website this summer when my mother and I got a refinance on our house with Beneficial. The loan was funded on June 24th and we wanted to have our payments at the beginning of the month. HSBC said we could if we made an interest payment. We made the payment and they didn’t know what it was when they received it (even though it was labeled).

HSBC mailed it back to us but by this time we were making our first payment on time (we thought) since we had a letter saying that our new due date was the 4th of the month. Now our check is sent back with a letter rescinding the due date and making it the 24th of the month. Still our payment was within the 10 day period so it wasn’t late, but regardless, we received a call from Beneficial saying that we were a month late on our payments. This gentleman told me that our first payment was due on 6/24 (the funding date). They also had taken the payment and paid the interest payment which meant that the payment was incomplete.

I tried to explain the mixup but no matter how many times I hear that they will straighten out this issue they don’t do it. I do keep getting letters that I owe an extra mortgage payment and though I asked for an auditor I don’t get my issue resolved and I know that this is hurting hers and my credit rating we have a prepayment penalty for 2 years and we want out of this nightmare. The people that call us are in India and the Americans that we speak to never know what we are talking about. It should be in the computer but I always have to explain from the beginning.

Now that I have read this website I printed all the material and I am submitting it all to my attorney with a letter and pray I can get the prepayment penalty off the account so that I can refinance with a reputable company after this financial freefall is over. I have my account with Wachovia and hopefully they will be able to help us. My mother is 79 and I am 53 and disabled. They are such creeps.”