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HSBC / questionable charges

1 Philippines

I have been a cardholder of Red Mastercard for 2 to 3 years now. Last purchase using this card was made in August 2008. However, to my disappointment, after only 2 months of not being able to pay the bill, my account was transferred to the legal collection office of HSBC which is based in Davao. 16, 000 php was the amount that I had to pay last Dec. 2008. Other credit card companies are kinder to their clients. Since then, I have been consistently paying my bill with 2000 php or more a month.

Just when I thought my bill would be so small, a call was made by Mercy of Davao last July 28 using the landline #[protected], informing me that I need to pay 4, 500 php to close the account. She made it sound that it is a good offer by HSBC Head Office who lowered it to such amount from 8000 php. I have not seen my bill statements for a year now. But simple calculations would tell us that it cannot be 8000 php, not even 4500 php. HSBC is not even doing me a favor. I expect the amount to be as low as 3000 including the charges, or zero minus the charges.

I told her to send me my bill statement to my new address or fax it. I want to see the charges, and know how computation was done. However, I haven’t received anything from her since then. I have heard of the settlement offered by HSBC to other clients. They were simply asked to pay for the principal amount. I think the company has profited a lot already from the charges that I have been paying. I hope that this time, the charges are waived, and I only have to pay the principal amount if there still is, considering the payments I have made.

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