HSBC Watch News Release Forum Index
Forum Name: - Impact - Survival
Topic Title: HSBC Auto - Forced Insurance When Already Insured
Tue Jul 19, 2005 9:42 am
Got charged for insurance, that was unneeded. We switched auto insurers and at that time we advised HSBC Auto Finance that insurance had changed. The next month I get a $20 charge for insurance.
I then called them and they said I needed to talk with their insurance people, who handles this. I got switched to them. I explained about the problem, he then said “not our problem it is HSBC Auto”, so he forwarded me back to another customer service person. I told her about the problem and the late (default fees) I had been getting because I was refusing to pay for insurance I did not need/require. She stated she would talk to supervisor and get it taken off my account with all the late fees. This was Oct 04, I have called every month since and gotten the same run around. Finally I got the billing department will research the matter, and to call back in 1 week to make sure all taken care of. I called, still not resolved. Finally, last month I made a separate payment to get rid of the late fees and the last of the insurance not paid.
We monitor customer trends for possible violations of Regulation Z and other possible illegal actions.