I have had issues with HSBC incorrectly billing me for their "Asset Protection Insurance" since inception of my loan (3 years ago). My insurance company has always provided them with the required information and I have always had more than appropriate coverage. Additionally, I have sent them via fax copies of the insurance information (I have kept all of the fax confirms).
The telephone number that provide will eventually get you to a non-English speaking individual who will confirm all of your information and then transfer you into a never ending loop, or the number will ring endless with no answer. The fax number is also a problem. I made numerous fax attempts but to no avail but then was able to finally get a couple to go through and they are still charging me this fee. It is now over $1,000 and I cannot get in touch with anyone who can help. It is the same endless loop of customer non-service.
I believe that HSBC does this intentionally in order to try to collect fees they are not entitled to. I have never been without car insurance and can prove a trail of continuous coverage going back many years prior to owning this vehicle.
So, I am pretty disgusted and have decided to engage an attorney. Although my finances are pretty good now that the divorce dust has settled, I am going to file for Bankruptcy Protection (regorganization) and my attorney said that she will go after HSBC. So, be very careful who you do business with and do your research before you take out a loan. I would never have done any business with HSBC if I would have researched them prior to signing the papers.