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HSBC Finance Auto Loan / hsbc killed my credit!

United States Review updated:
80% 5
In february,2005, I went through divorce proceedings. my wife was awarded one of our vehicles which we had a joint loan through hsbc. judgment was for her to keep payments current and if she defaulted the vehicle would be repossessed by me. i, immediately contacted hsbc to explain my concerns about being joint on the account without payment control and asked to have duplicate billing sent to me. they refused, telling me that they would instead notate the account for me as a co-signer, to be notified if any payment was delinquent.in october of 2005 I was reviewing my credit fico as I do every month through one of my credit card services. to my dismay my credit had fallen drastically from one month to the next. upon investigation I uncovered that she was behind on two months of payment for the auto loan. I contacted her, flew from phoenix, az to seattle, wa to reposes the vehicle, drove it back to phoenix, and paid off the $18,600 balance the next week. I contacted hsbc to explain what had happened, ask why they had not done what they had promised to preserve my credit rating, and resolve my issue by removing the negative hits on my credit. hsbc refused to do anything for me. the customer service reps told me that the account had, in fact, been notated, but on a different data screen that was not looked at when contacts were made by the hsbc collections department for delinquent accounts. I asked them to remove the negative notation on my credit due to their non-performance and they repeatedly decline. this argument went on for two months with multiple calls, faxes, and letters to hsbc, with no resolution. I finally gave up.

Hsbc killed my credit! I pay consequences for their lack of promised performanc. the "only" protection I had to protect my credit.

Thanks for listening, any help or advise would be appreciated.


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A  21st of Jun, 2007 by 
Agree Disagree 0 Votes
This company has called me numerous times about payment since the reposed the vehicle. The collection agency called me and the i do it who talked to me tried to collect the debt by calling me every name in the book and insulting my military career and my time in the service saying I was a disgrace to the Marine Corps the Country and that I wasn't a fit human being and degraded the American military in general. I have made a formal complaint with the Attornay Generals office here. This company is a British owned company and the head of the company has make the statement that how is runs his company is his business and he is not afraid of the FBI, Attorney Generals American Courts, etc. and he will continue to operate as he pleases in our country and there is nothing they can do about it. In general this company is ripping off Americans feels it can say and do as it pleases and get away with it. I can say this they will regret ever making bad remarks about my military service and the American military.
N  24th of Mar, 2008 by 
Agree Disagree 0 Votes
N  11th of Jan, 2009 by 
Agree Disagree 0 Votes
Read my article i hope it motivates. File any account owed with the American Arbitration Association in your state. They can take HSBC ability to operate in the United States.
N  11th of Jan, 2009 by 
Agree Disagree 0 Votes
I forgot to add this.. link

Credit cards, auto loans any business in consumer lending can be taken down!

N  11th of Jan, 2009 by 
Agree Disagree 0 Votes
Correction any business dealing with consumers. can be filed against and asked to work thru the American Arbitration Association can be contacted and request them to cooperate. if the business doesn't that is feul and ammo for your case that they aren't in customer service and don't care. It will prove they disregard Federal law and consumer law.

No mater what they sell or do, any merchant and mom or pops store.. they all can be worked thru the system of the AAA.

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PO Box 6125,
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United Kingdom - CV39GW
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