HSBC Retail Services - Suzuki
HSBC Retail Services/Suzuki Suzuki Bike Ripoff

Purchased a Suzuki bike financed thru HSBC a couple of years ago. The interest in the beginning was outrageous. My payments were 180 a month, with only 50 dollars going toward the payment, the rest was interest.

Just recieved a statement saying the interest went from 12.9% to 24.9%.interest alone on April statement is 231.12 making my payment now 348.00 a month.

I dont understand how this can be legal. I have payed on this bike for a couple of years and my balance is maybe less than a 1,000 from when I first bought the bike.

If anyone has any ideas how to resolve this problem, please let me know. My statement says if I pay 464.00 a month for 3 years I will save 16,700. That is around 4,000 more than I originally paid for it. If I pay only the monthly payment it will take me 26 years and cost me 34,389.

Company: HSBC Retail Services - Suzuki
Country: USA
State: Illinois
City: Carol Stream
Address: Dept 7680
Phone: 18003651363
Site: hrsaccount.com

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