Help with HSBC.?

Question

If anyone is familiar with HSBC, you probably know they are scandalous. Well my dad bought his truck in 2000 and got a 6 year loan for 17797. He made a $2000 down payment, but they didnt take it away from the principal they actually ADDED it to it. For 3 years only $145.20 went to the principal amount. What im wondering is are they allowed to do this? I know they already lost $400 million dollars because they got sued. They went into my dads bank account 2 days after Christmas and took out money without authorization. Is there anything my dad can do? Hes already paid a total of $38000 for the truck. Now, they are threatening to come get the truck and he only owes $100 or less in late charges. And they harass us daily, they called him 35 times last week alone. Please help me..

Answer 1

Yes.  Your father signed the loan contract, giving them permission to do this.  

Shame on your dad, for giving his account info to them.  He needs to close that account, and open another one, at a different bank, or they'll keep doing it.

Car loans are a major ripoff.  If you have a loan for 4 years, you pay about 25% of the car's value in interest.  The longer the loan, the more interest.