HSBC Complaint - HSBC Lies and calls it misinformation
I lost my position and fell behind in paying HSBC. I spent a lengthy time talking to them and working out a "Re-aging" arrangement that they stated would freeze the monthly accruals, no late fees and as long as I made three monthly payments of 274.00 it would catch me up and the account would not be canceled.
I paid 822.00 in three months. However it only reduced my debt 110.00 and at the end of three months, because the monthly minimums continued to accrue, I still owed 788.00 because the card was over its limit.
Just to recap- I fell behind, the late fees and interest is what made my card go over limit and then I had late fees and over limit fees. I made a great arrangement that HSCB did not keep and now I am out 822.00 with a card that I can not use and if I don't come up with a single payment of 788.00 then anything I pay will go towards penalties, not the balance. When I called to ask what happened they stated that I was a victim of misinformation and there was nothing they could do but put me on a hardship arrangement.
Wait a minute. Another arrangement? What about keeping your word and bring my account current and under limit with the 822 I paid in three months.
HSBC did nothing and now I have to decide whether to honor my commitment and pay them back or since they have already damaged my credit and canceled the card, opt not to worry about them. Morale of the story is to get any arrangement in writing. HSBC must have company policy to do what ever is necessary to rob, cheat, steal or lie to get the consumers money.
Before closing I must admit that a supervisor read the notes and acknowledged that I was told one thing and received another and is attempting to work a few things out. However, I will not hold my breath that the company will see it her way.