HSBC Horror Stories

This was submitted this morning: “I copied and pasted from a Google search for “zero percent” HSBC CARD!

READ IT - this is why everybody gets a card and why EVERYBODY GETS JACKED!
“We apply payments to lower APR balances before higher APR balances. We have the right to change your APRs, fees and other terms […]

A former HSBC employee said: “I am withholding my initials and state because I am still trying to get monies owed to me by HSBC as part of my severance package. I have been an employee for over 20 years, starting with Beneficial back in the good old days when our only goal […]

While HSBC Finance - formerly Household International - runs wild and partially unregulated in the United States HSBC said it has not participated in talks in the United States. HSBC already took more than $10 Billion in markdowns for losses. Is there any feeling of corporate responsibility? Remember if you will that […]

DD in Pennsylvania said: “Levitz Furniture / HSBC Retail Services has charged us for a debt cancellation fee that we never signed up for. Last month customer service said they removed the charge and issued a $44 credit, but they did not. Phone calls go on hold for hours. No reply to […]

Is the U.S. mortgage industry a toxic problem that finally makes the United States a second-rate county that is one step closer to becoming a third-world nation? The U. S. Dollar is being replaced by the Euro as the international trade standard. Could our large national debt be part of the reason? Those […]

Many other countries have not gotten down to the dirty task of lending money for housing to people who can’t afford it and then financially leveraging the loans to create billions in false value. That’s what the U.S. has done and it has the potential to impact people around the world. The U.S. subprime market […]

A Center for Responsible Lending (CRL) study found that one in five subprime loans issued during 2005-2006 will fail, with over two million homeowners at risk for foreclosure as a result.

A study conducted by the Mortgage Bankers’ Association (MBA) also found that subprime mortgages were experiencing higher rates of delinquency in the past twelve months.

More than 425 boxes of documents which may shed light on HSBC’s subprime woes of past and present were recently discovered gathering dust in a warehouse.They surfaced in a U.S. class-action lawsuit against HSBC Finance, formerly Household International, in which investors claim damages from its subprime lending practices. The lawsuit claims the company’s stock came […]