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We have two auto loans with HSBC. After my husband deployed for the middleeast HSBC reposses both car this year. The first time was back in March 2008 and 2 time was this past week. We requested that HSBC reduced our interest Rate from 16% to 6% on both accounts under the provision fo the Service Member Civil Relif Act. HSBC reposses wife car on 25 July 2008, after cerified mail letter received by HSBC in june2008. HSBC Auto Finance in a BIG RIPOFF. This company has VERY VERY POOR CONSUMER SERVICE and do not support any military service members who are deploying to help keep our counrty free and safe. HSBC Auto finance fail to reduce my high interest rate since my husband bee on this deployment for Operation Iraqi freedom. They told us that the wife in not entitle to the reduced interest rate under the SCRA. My husband informed our Family Assistance Center for military service member families. Our FRG Rep called HSBC Auto Finance and would not support this soldier after all document were submitted since January 2008. Now HSBC want the servicemeber wife to pay 800 to 1500 dollar before the car returen. HSBC Auto is ripping off this service member family, were the soldier and this wife do not have to pay any fees or back payment. Now the service member wife has no means of transportation for the family and to get to her doctor for followup medical care. In closing, We would like to remind all military and non-miltary famiies that HSBC Auto Fincance Company not for good consumer service, not to support our military guy and gal oversea fighting for freedom. They only want your hard earned money at a very high interest rate and reposses your car after 2-3 delinguent months. Recommend that your check your state law. The repossession company will take your car off your property even if the driveway gate in locked. We recoomend that you complaint to the Main office of HSBC and file complaint with your state Consumer Affairs Department and file special claim suite company for not
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Customer's commanding officer should have informed the customer that the Soldiers and Sailors act would provide some assistance in this situation. Also, with the hazard duty pay received when overseas the customer could have set up an allotment in order to cover payments while out of town. Also, the primary language spoken in the country the customer is defending is English. FYI.
I agree. I have experienced terrible customer service from HSBC Auto Finance. They are not military friendly at all. I even requested to speak with a manager and they wouldn't even budge for the $15.00 they charged me for making a payment over the phone because their online system was down. The only thing they honor under the Soldiers and Sailors Act is decreasing the interest rate to 6% but that is as far as they go. All my other companies went above and beyond to take care of any extra fees I may incur while deployed while HSBC would not. I regret having my car loan with a company who cannot support or assist any military member.
While I was deployed to Iraq in 2007 my insurance lapsed and I was unaware of it. HSBC found out and added their insurance to my car note (which is in the contract), however, the contract does not stat how the insurance is collected. What HSBC was doing was paying the insurance then putting the remainder of my payment to the car note. The whole time they never notified me of the situation. All of my payments are and were made on time because I had my payments on an allotment which means HSBC gets paid out of my check before I do. When I got home I was trying to reconcile the issue and they were being extremely rude threatening repossession and threatening my military career. They would harass me on my cell phone at the weirdest hours and they would call me at work. They disclosed my private information to my commander without my consent. They refused to honor the Soldiers and Sailors Relief Act. When JAG got involved on my behalf HSBC sold my account to Santander and they are following in HSBC’s footsteps. I bought the car for $12.500 and three years later I still owe over $10, 000. Every time I thought I was getting a little lee way I would deploy again and have to start over. It is sad to say but I am glad I am not the only one with these issues.