Bought a Victory Motorcycle a year and a half ago. Lost my job a year ago and fell behind 3 months. Paid crazy money to bring loan up to current plus all sorts of Repo costs even though it was not repoed. Original monthly was $150 per month. Cost me $1400 to keep from getting repoed. All of a sudden my monthly payment went from $150 to $250 per month. Tried forever to get someone on the phone who was not an overseas call center. Finally found out it was due to increase in interest rate but would go back after 6 months of regular on time payments. Been making my payments but got got a letter in the mail telling me that I owed $597 dollars and started getting debt collections calls. Keep in mind... I dont owe a payment for three more weeks.
Called HSBC again and the continued nightmare of getting someone who knows anything and after being disconnected 3 times again. Was told that my actual monthly payment was now $458 per month and I had accumulated Penatly fees.
After much frustration... Found out that this is not a regular loan but a revolving charge account!!!
Also found out that I have been paying 30 some dollars a month for some kind of loan insurance that I was not aware of. Called them and was told I may not get any benefit at all because I am not on unemployment!!!
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