HSBC Auto Finance Repossession against the law of this state. Internet

In 2007 I paid up to date w/my auto loan then they came and repo'd the car. They claim to have only sold it for 10% of the actual value but I have yet to see the paperwork for this. They never applied my payments toward principal only interest. It actually was a relief to be rid of them they are a crooked company, scamming people left and right and only now do I see they are being sued by big corporations (Finally). However. with my almost perfect credit now I am receiving harassing calls from a collection agency claiming to recover the money hsbc thinks I owe them, but now without documentation they aren't getting a dime, not one red penny. I asked for paperwork in writing and they "don't have it" well I don't have money for them either.
****I did reach an attorney in PA who is willing to review the paperwork should hsbc get around to sending it to me.  we'll see

When you can get on a tittee babee!

How do you like that?

I see,   jim Is financially secure.   Hey wake up jim the finance companies are pulling what these mortage companies are doing not applying peoples payments illegal repossession but we don't matter

Yes, lets do it and do it NOW!  The world is OVER POPULATED with subprime thinking welfare types who will come up with any excuse to blame the finance company when they, themselves caused the repo by not making payments on time.

Do people lose jobs? Of course they do.  What mature, responsible people do is IMMEDIATELY get on a payroll...even if its only part time.

But no, the typical subprime thinking, welfare type thinks "there are no jobs" and cry and whine when the finance company won't give them a break.  Why not?  Because these types already have a reputation for NOT paying their bills and are continuing to live up to it.

Yeah, we need a C/A suit. 

Hsbc almost screwed me In 2005,   they approved me for a truck then two weeks later they said I didn't meet their credit granting criteria.  Well the dealership did find another finance company,  so In your face HSBC!.  I didn't lose the vehicle.

I did call them up & tell them that.

Great response, Steve.  I really mean that!  Your wording was perfect, your points were exactly right on!

I think you last response was a little harsh. But If you are past due and cant make acceptable arrangmnts anyone will repo your vehicle if you are past due. Even if you are talking to them. All legal notices are sent by finance companies when they need to send them never when when you ask for them. They send them because they are required by law not because you want one. If the law does not require one to be sent they will not send you one.  In South Carolina the law states they are required to send you 1 (ONE) notice for the life of your loan. They never need to send another one to you and they have done what is required. It is not required to be sent registered or certified mail.  I'm guessing that you missed this letter whenever it came because you either had no idea of what was in the envelope or thought it was junk mail. There is nothing on the envelope that indicates it is an important piece of mail.  Vehicles are sold at auction when repo'ed. They go to the highest bidder.  Yes what you owe after the sale is called your deficiency balance. That is usally sold to another company who will get a judgement and if they have to garnish your wages. This amount will include the orginally remaining balance, court costs, attorney fees and interest on everything.  In no way a pretty picture.  BUT there is nothing that you have written that shows they screwed you over.  Nothing that you wrote said that you were current and they repo'd your car. If you borrow money to finance a car a house or anything else if you dont pay when you are supposed too you risk losing what you financed and alot more money.

Only the truly uneducated spout off with that "class action lawsuit" drivel.

So why wait for someone else to file it?

Why don't YOU do it?



Stand up and do something for yourself, or quit crying.

Nothing illegal here. No rip off.



Big lenders like HSBC generate all notices automatically, and they are repetitive.

You don't only get one notice. You get several.



The bottom line here is that you were "several months" behind, by your own admission!



So, in reality, it was YOU that was engaging in the "rip off" here as you were driving THEIR vehicle for FREE the whole time you were not making payments!



People need to lose the "entitlement" attitude.

The bank owes you nothing.

Pay your bills, or lose your stuff. It's just that simple.



It's all about priorities.



I would bet that during the time your car loan was not being paid, you still had cable tv, internet service, and other non-essentials. You also probably still went out to eat and bought other stuff you really didn't "need" during that time.



Again, it's all about priorities.

If keeping your car was a priority, you would have found a way to make the payments.

You could have sold off other stuff, got help from family or friends, done "side work", day labor, etc.

Lots of options.



If you claim the repo was 'illegal" why did you not file a police report and / or go see the DA about criminal charges?



As far as the "value" of the car goes, you are most likely confused.

Repos go to auction. They bring wholesale values, not high retail.

HSBC Auto Finance is a SUB PRIME lender, so you most likely owed far more than the car was worth.



They will now come after you for the "deficiency" as allowed by law, and will sue you and get a judgement, then will garnish your future paychecks, and even your bank accounts and/or tax returns until paid.