HSBC Horror Stories

Up until October 2004, my husband had steady employment as an aeronautical Engineer In early 2004 we refinanced with Beneficial Finance. Days after refinancing my husband was forced into early retirement.This also happened after hubby’s 401K plan through his employer lost 3/4 of its value. We lived carefully on a 401K plan that was […]

MB in Minnesota said: “First they hire someone from Mexico who quits and takes all info with him, like our ss#, bank # and had a hay day with it…… All they will do is say sorry, is there anything else we can do for you today??? Then we add another loan to add […]

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 […]

AP in Georgia said: “The WORST thing I ever did in my life was to get involved with HSBC. Two years ago, I found myself unemployed. I had two mortgages on my home (the second was with HSBC). I put it on the market even BEFORE I fell behind on either mortgage payment. […]

A friend in Virginia said this about attempting a short sale and his dealings with HSBC:
“Through job loss and a long period of serious illness that had a devastating impact on our finances, my wife and I found ourselves in a situation where we feared we would not be able to continue paying for our […]

MS in Utah said: “I have fallen at work, we were waiting for workmans comp and we fell a little behind. 5 days late HSBC charges me every late fee, every added interest, every thing they could do to charge me more money. When I ask them for help they said that […]

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 […]

Let me make a point perfectly clear. When we write about HSBC Finance we are not attacking employees, as they must work within the guidelines set by the company. This report is anonymous by request: “As a current employee I am appauled to see Beneficial and HFC’s latest trick which seems to […]