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[Resolved]  HSBC — HSBC Personal Loans are cheats!

in 2004 I took out a car loan with WFS after being with them for 1 year I decided to go to HSBC for my auto loan to in order to lower my rate and my payment of course. everything sounded great two years into the loan and mind you I had never been late with a payment I got laid off from work and was forced to decide between my car and my home, I decided to call HSBC to see if they would be able to help me with eithier refinacing the igsisting amount of 9000.00 in order to make sure that i could still afford making my payments and not lose my car. the company just would help in any way all they could do was defer my payment for two payments . but I would have to still send a payment this months. thi really wasnt helping my situation. I fell behind on two payments and got cought up. then I fell behind 2 payments again this time my phone and cell phone became disconnected because I just could afford anything but the roof over my head. and my three kids any how to make a long story short HSBC starts to call my refrences, they call my younger sister and start yelling at her threating her telling her about my personal problems with me paying my bills. my point here is I dont remember signing any where where it said that they would share that information with otheres and if I am correct I thought there was laws against things like this. I am very upset because she has nothing todo with my finances but yet she knows about it..
Complaint marked as Resolved Aug 14, 2020
Complaint comments  3 CommentsShareTweet

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We had taken a personal loan from HSBC middle of last year 2007 and have been making payments regularly since. but due to the recession early in 2008 my husband's company closed down and we still continued to make the payments regularly but with great difficulty sometimes borrowing and selling few possessions. we have been requesting HSBC to reschedule the loan but to no avail. On the other hand SBI where we have a car loan have been really considerate and have made arrangements for IT people who have happened to have lost their jobs for no fault of theirs. so i thinh HSBC should learn something form SBI. They too should make some arrangements for honest and deserving customers like us.
Because of these reasons my sincere advice PLEASE DO NOT TAKE ANY LOAN FROM THESE HEARTLESS AND INHUMAN PEOPLE WHO ONLY THINK OF MONEY, MONEY, MONEY AND NOTHING ELSE.
GOD BLESS AND PROSPER SBI !!!
THANX
This shows extreme unprofessionalism on part of Hsbc . They should be sued for such conduct .
Firstly, Under Consumer Law 1974 and the 1983 Act it states that your bills have to be paid first and anything left over goes towards your debts. Also, HSBC or any other Bank cannot force you to pay what you cannot afford. Secondly, under Unfair Collection Proceedures OFT, it is an offence for the Bank to inform any third party of your affairs. Write a strong letter to the Senior Manager at Arlington, register the letter and ask for their final response. When you have this, go to the Banking Ombudsman. If harrassed by the phone, make a note of everytime they ring. If the calls are boarding on harrassment make a complaint to the OFT. (Office of Fair Trading)

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    Hongkong & Shanghai Banking Corporation [HSBC] Phone
    +91 22 6680 0001
    +91 22 6666 8890
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    Hongkong & Shanghai Banking Corporation [HSBC] Address
    52, 60, HSBC India Ltd Building, Mahatma Gandhi Road, Fort, Mumbai, Maharashtra, India - 400001