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 […]

MR in Arizona said this informative copy of his long letter: September 13, 2008
Arizona Department of Financial Institutions and all in CC list.
2910 North 44th Street, Suite 310
Phoenix, Arizona 85018

RE: Loan number: (redacted) HFC-HSBC
• Predatory Lending Practices
• Misrepresentation of lending […]

FD in Idaho said: “Long story short..HSBC started by dating bills first of month, I would receive around the 15th at the earliest, a suggested mail in payment date of the 19th for a bill due the 30th. If I didnt mail by 19th, I was penalized for late payment even though I […]

SK in Kentucky said: “Here is a copy of our 5th and most recent letter we sent last week to Beneficial/HSBC. We got the wording from another watchdog site and the HUD website:

Dear Beneficial/HSBC;
This is a “Qualified Written Request” under Section 6 of the Real Estate Settlement Procedures Act (RESPA). We are writing to […]

BW in South Carolina warns: “After considering bankruptcy, we were forced to tell HFC to accept our offer or take our home. To say the least, this was a very gut-wrenching time for us. When they agreed at the last minute, we thought we had finally detached ourselves from the scum balls that […]

The following complaints about HSBC, received from individuals around the country, should be considered as allegations only. We make no effort to investigate the validity of complaints submitted by customers and non-customers. Instead we monitor complaints such as these for trends that can be verified, just as we did before Household International was […]

Those attempting to defend HFC and Beneficial like to say “we don’t make that kind of loan anymore” or defend the company in other ways. While some former employees speak of customer abuse when they were with HFC or Beneficial, others comment on positive changes. Other than a small $10 million settlement for […]

SC in Missouri says: “I bought some nice furniture from Rhodes, some was short term instant loan but the major purchase was over 3 grand and was suppose to be interest free for 2 years. I never received a statement for a year, Rhodes closed shop in Kansas City, and I was surprised […]