Chase Auto / bad service
Lee kevin deutsch, vice president & general counsel of chase auto finance legal department, wrote, this letter to my attorney after chase miscalculated my loan by 1000's. Charging me 17k interest and 12k principal over several years. Yes.
Email; lee. K. Deutsch at chase.com. Tel; [protected], fax; [protected]
Dear mr. _____;
Your fax of july 14, 2008 has been referred to the undersigned to reply. Please note that chase rejects your clients settlement demand as it has already corrected her account, waived its balance and deleted its credit reporting with respect to the account. Your client has already received as much, or more, relief that she is entitled to.
Please further note if your client insists on pursuing time barred or otherwise frivolous claims, they will be vigorously defended.
My attorney sent this for damages; I thought a very fare amount considering chase only creidted me approx. 5k.
Monday, july 14, 2008
Chase auto finance legal dept:
Enclosed for your review are the following:
1. Attorney records from liens filed in orange county courts on your behalf against my client
2. Copy of the & atilde;¢ï¿½ï¿½summary of new termsã¢ï¿½ï¿½ dated 03 oct 29
1. This document shows a new interest rate at 9%apr
2.In inaccurate principal amount of $34, 517.23 i. Principal balance (Per loan summary sheet) should have been represented to the district court at $28, 708.00.
3. Itemized accounting of all payments made by my client from the date a reaffirmation. This document shows that a total payment of $29, 719.99 tendered by my client, which chase illegally applied $17, 939.99 toward interest during this period.
4. A letter that my client typed and intends to forward to the named recipients.
5. Finally, a harassment list my client also typed and requested that I send directly to you.
Please review these documents. It is our initial legal position that chase is liable for: negligence, misrepresentation, unfair and deceptive business, fraud, misrepresentation, and caused my client severe emotional distress. We also intend to pursue relief in any manner applicable under federal truth in lending laws and california consumer protection act. If this matter is not resolved in a timely manner, we intend to request punitive damages and legal fees, as applicable under california law.
My client formally requests a settlement in the amount of $30, 000.00.
It is apparent and clear that on october 29, 2003 chase auto finance agreed to terms of the new agreement with the bankruptcy court, see: in and for the central district of californiaã¢ï¿½ï¿½santa ana reaffirmation agreement. The terms of this agreement contractually obligate chase and my client to a simple interest loan calculated at 9% interest. As per this agreement, my client performed consecutive payments at $859.00 per month. However, chase auto finance misapplied all payments to interest.In three years, chase applied over $17, 000 in interest and merely $11, 780 toward principal. This action is clearly in violation of the contract.
During this period, my client made several (Over 70 phone calls) attempts to determine the cause for her inability to sell the vehicle for more than her miscalculated principal.
In addition, my client faced the humiliation of a wrongful repossession for amounts that she did not owe. Because of the miscalculated interest and principal, my client was forced to pay late charged, repossession charges, and borrow money from friends and family to rectify the situation caused by the negligent miscalculations. Chase auto finance places blame on a system error or glitch. However, this is unacceptable.
In the event that this matter is not resolved, my client will seek all avenues available to expose this event to national media source, all consumer advocate resources, and file a complaint in the orange county district court.
On behalf of my client, I formally request that chase auto finance review this manner and respond within (3) three business days.
Attorney at law
I don't know - for miscalculation of my loan by 1000's of dollars, in which I made 70 calls to correct, over several years... I thought 30k was very honest amount to go for.
Chase "the right relation means nothing to us"
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