NM in Tennessee said: “When I decided to purchase a couple of four wheelers and later a street bike, I never dreamed my loan would end up being a “credit card” loan through HSBC. Several years ago my parents had a loan through HSBC and it was a total nightmare for them. That all being said, I experienced just about every complaint listed on this site. Even though I was making my “scheduled payments” each month, because they kept raising the interest rate and adding late fees, I could no longer keep my payments up. Several attempts was made to work with HSBC and get my loan current, but they said “you have to pay…and now”.
When I missed my second payment, they came and repossessed my two recreational vehicles one night and came back and got the street bike the next morning. Two different companies did the repossessions. Both of the gentlemen doing the actual repossessions state how many repossessions they do for HSBC. You would be amazed to know the first guy does about 120-150 a month, and the second guy does about 100 or more a WEEK!! Both guys admitted HSBC is a big rip off and stated the government should step in and put a stop to their scamming. Oh how I would love to see that!”
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