HSBC AUTO FINANCE - HSBC AUTO REPO DEFICIENCY BALANCE SAN DIEGO California

They repoed my vehicle after just a few months of partial payments. I has been paying for over a year, then I had employment difficulties. Even though I made partial pays both months they still repoed it. When they said they were going to take it anyway I asked them to give me back the partial pays since they were considered the same as no pays. they said it doesn't work like that. They took the jeep while I was at an office. Left me stranded in the winter!!! (We received like 350 inches of snow in town last winter! )

Anyway, when i spoke with them on the phone, they told me the least they could take was like 13,000+. I couldn't find other financing. After they took the jeep, they sold it for only $9000. I think they had some deal with repo joes. It was in all the big towns. HSBC Sales people were probably getting extra commissions on the repos. They me over to a collection agency who said they could take $7000.00. NO WAY! The jeep was 16,500. before financing. I paid them over 10,000 in pays while i had the jeep. they sold it for $9000. Now they want $7000 more. What a rippp!

....you fail to mention the interest rate that you agreed to when you signed for the HSBC loan.

HSBC is well known for providing loans to people with less than perfect credit. As a result, those borrowers pay substantially higher interest rates...sometimes up to 33%.

Those interest rates should have been disclosed to you upon signing. If you signed for them, then no ripoff here. You agreed to the payments and you agreed to the total amount owed.

If your documents were altered from what you agreed to then you should seek the advice of an attorney.

That you agreed to borrow $27,400 for a vehicle worth substantially less is irrelevant to your claim unless you can prove fraud in the transaction.