Long story short, I purchased a laptop thru sony style's credit program, so i don't have to pay for the product 18 months with 0 interest.

Anyway, after receiving several billing statements, I was somehow enrolled in the "Debt Cancellation Program" by HSBC and charged $14.03 a month.

Basically I read online that HSBC (household bank credit) has been scamming consumers by employing a loss/damage insurance program (at a monthly rate) without the buyer's consent. They work with companies like Best Buy, Sony, Levitz, CompUSA, Costco, etc. The ridiculous thing is, when you apply for the credit program, the salesman is supposed to tell you about the HSBC thing, and ask if you want to be enrolled or not.

Anyway, let this be a lesson for anyone who is planning to finance for items like laptops, furniture, TVs, etc. Make sure that you don't get enrolled into this scam. They'll eat your money, and you won't see it ever again.

Has anyone had this problem, or heard of it? I would love to get the $60 back that was stolen from me. I'll be going to Sony tomorrow and have a chat with the upper management, in regards of my dear salesman named Joseph who signed me up for this ... that prick.

 

Was it the deal associated with the sony style card?

 

No, HSBC is apparently notorious for signing people up without their direct consent. For example, if you go to Sony and apply for their credit program, you are SUPPOSED TO BE notified by the salesman if you want to enroll in HSBC's program (basically insurance for loss/damage). However, even if you tell them NO, you do NOT want it, the salesman will just sign you up ANYWAY and then you are charged monthly from thereon.

I was reading about it, and it seems like a huge scam and PITA to cancel the membership, and nearly impossible to get your money back. I have no idea why a class action lawsuit has not been arranged yet. A lot of people seem to be getting owned by it. Just google "hsbc debt cancellation scam" and you'll see how many people have fallen victim to it.

Hopefully Sony's customer service will help me out here... the fact they pull this kind of scam on consumers is just pathetic..

 

I had the same thing happen a couple of years ago HSBC keep fighting and you'll get your money back. Just hang in there bro.

 

I just searched for it on yahoo... this is some serious stuff. I'm surprised that no one took action yet?

 

HSBC--Hong Kong Shanghai Banking Corporation?...

or a different one?

They are the 4th largest bank in the world in terms of assets...according to Wiki...

 

Michael Finney @ 7 on your Side

 

I can't beleive this is legal... shouldn't this have been stopped?
Maybe it's one of those things in fine print that you never read. lol

 

wow... that's pretty sneaky in a ####ed up kinda way


so was the 14/mo tacked onto your overall "debt"/charge? I'm curious how they would charge that to you monthly without noticing.

 

yes, it IS in the fine print when you sign the papers for the credit program for sony (or best buy, etc.) However, it is required that the salesman, (or whoever is helping you sign the finance papers) ask you if you want the HSBC debt cancellation program or not. They are supposed to make you aware of it, and have your consent.

Thing is, most people do not read the fine print, especially when the papers are several pages. They basically trick you into thinking it's signatures for the item you bought, when in reality, part of it is the HSBC thing. Pretty F'ed up.