A friend has been going thru refinance with jp morgan chase since january, with an existing mortgage with the company. There has been ongoing communication with the refinance for a few months, with glitches in paperwork that included agreement that a couple of thousand dollars would be returned to the refinancee; when papers were brought for signature, there were conflicting statements in paperwork and a request for a couple hundred to finalize the loan. There seems to be something unethical and/or fraudulent about the path of this refinance. The final act that convinces me of this: chase notifies my friend that the home is in "default" status. What is baffling about this situation is that the mortage company was informed about the refinance, the existing mortgage and refinance is the same company and prior payments to the company have been timely. Has something like this happened to others in nc. The next course of action is to contact senator and atty general, but sheesh...in this economy, why are these companies still bent on wrecking the lives of us comsumers. I am hopeful that there is miscommunication that can be resolved quickly in the next few days, but this has been a nightmare for a friend that has already had a stroke in the last 12 months. I'd hate for the unnecessary stress to cause the onset of another.
I received a letter from Chase, so I called the number. I ended up speaking with Kathryn R Daigneault (a...
Chase bank may have possibly broken predatory lending laws by reneging on their agreements with probable thousands of customers like me who accepted their generous offer of low interest for the life of the balance card deals. They have decided that the life is up.
They offered their customers 3.9% life of the balance loans on credit cards years ago. Now, after paying for many years at the agreed rate they have changed the plan and added a $10 monthly 'transaction fee' when no transaction was requested nor accepted, which makes the effective APR go to 6.5% . A figure they felt they could live with. As min payment shrinks the effective APR rises under the new accounting. When the amount paid is $10 the addition of a $10 transaction fee will make the effective APR 100%/month or 1200%/year!
They also decided to change the min payment from 2% of the unpaid balance to 5% of the unpaid balance. They told me, in a phone call, that they could take off the monthly service charge if I sign a new contract and agree to 7%. Isn't that extortion- adding a charge and offering to remove it for agreeing to higher interest?
Consumer affairs web site is full of similar complaints from scores of angry customers. At least one class action suit has been filed against them.
Could they change it again and increase the service fee to $1000/month and make the minimum payment 25% of the unpaid balance? They must not be allowed to change the terms of the original agreement.
We need an injunction on them barring any changes to the original contract that was to be in place for the life of the balance until a court can decide whether or not is legal for them to breech the contract, by changing the payments and effective APR.
I've been a solid customer of Chase's for 12 years. We received a letter from them stating that they were lowering my credid limit (to $14, 900.00 from $20, 400) based on "Too few accounts paid as agreed"; and they quoted Experian (TRW) as the reference.
I phoned Chase, they said contact Experian, but they recommended I buy a credit card protection plan...
I phoned Experian, which recommended I get the info on line.
I entered all the info. on line, and the Experian (via freeCreditReport.com) stated that I had a- 797- 'plus' score, which meant that less than 1/2 of 1% of U.S. consumers have a better credit rating.
Hmmm. The letter and the decreased credit line had NOTHING to do with Experian; it could only be connected to my wife calling Chase three weeks ago and asking for a better interest rate. We have carried other amounts into their care at a good rate some years back, and now they are jacking up the rate and adding $10.- monthlys. She was told that inorder to get the rate reduced she would have to cancel the card and yada yada yada.
I called Chase again with the info. ; I was told that (the office I was talking to:Charis M, Customer Support Division, did not know why the letter was sent; her department didn't send it. She said only in writing can I contact the department that sent it. Also, I asked if it was OK to record our conversation, she said absolutely not.
I took out a car loan with chase. I made my payments on time for two years. Everything was fine until the economy took a nose dive. I had no source of income my husband was layed off from his job. we have very little money coming in so I called and asked them if I could make weekly payments because It was easier for me to budget that way. they said that would be fine. my payment is 300$ I wanted to make payments of 100$ weekly, lets do the math 4 weeks x 100$ = 400$ monthly.
at first that was okay until one day I got a phone call and they said it wasn't okay and they will only deal with whole payments. so we make weekly payments until they said we couldn't anymore. In the meantime they were calling my family members harassing them and telling them I owed money on my auto loan and didn't know how to get a hold of me- that was a lie because they were calling me harassing me because I was a couple of days late on that months payment- a couple of days!
I didn't end up receiving any money for two weeks SO of course they called daily and told the person assigned to my case I would need to make the payment late but it would be made. was threatened with repossession for being a week late, next day someone different called and said that person was not my case manager and I again was threatened with repossession, so after the daily calls, the daily threats they are inflexible unruly, ignorant, and most of all rude.
I became upset with them threatening repossession and if I didn't tell them just what they wanted they would come get my vehicle. sounds like black mail to me. So as it is now I am 19 days past due on my current months payment and they again are threatening repo. With the economy the way it is and everyone losing jobs left and right to threaten everyone that has lost a job seems counter productive.
They repo tons of vehicles, ruins everyones credit, there stuck with vehicles that no one can buy at auction, seems like everyone looses, so why not work with the owners who will take better care of them? Dealing with chase auto finance has been frightening, horrible, and aggravating at best and I don't have words for what it has been like at its worst.
Chase bank solicited my wife and I at the beginning of October offering to defer our monthly payments for two months becuase of Hurricane Ike. At first I declined this but after much arm twisting I finally said ok as I thought the extra money would Help me with my deductible on our damage. I asked if they were going to defer the payment to the end of the note and the person named Rose said that is what they thought would happen. They were going so much of this and it happened so quick, she says that they will have all of this ready when I call back on December the 13th to work out the plan. So here is what has happened.
I called back and they wanted 3 payments as per them I was past due. If I could not make the 3 payments my options were Forebearance or loan modification that I would have to qualify for (which I did). she said they would start that process and told me to call back every week for updates, which we did. I ask her about making a payment and she says don't make a payment until February 1st. I told her that would add 4 months to the note and I did not want to do this. I sent in my December Payment and it was returned. I sent in my January Payment and it was returned. I finally got through to the Analyst who was handling my modification and he says that he was not the person handling this. Jason says, is that what you want? Duh!! He says he will send it to the anlylst named Yanet. Well I call the next week to discuss this with Yanet and she is on Vacation from Dec. 26 through Jan. 14. This is sitting on her desk. I call after leaving Countless messages to supervisors, Yanet and the Disaster Relief Team and noone knows what is going on and they won't return any phone calls. Out of nowhere, I receive a phone call from Yanette on Jan. 21 while I'm at the hospital while my daughter was giving birth. She tells me that they don't want me to make a payment until April 1st. Now we are adding 6 months to the modification, did not lower the interest and now the added $15000 of forced Escrow to the back end. Total add is now at $29000.00 I paid my own escrow but they said they had the right to do this since they were doing a modification. My monthly note went from $2486 to $4300. this does not include our second lean of $1300. I ask her how many people can afford a bump like this? I told her that I wanted to pay the February and March payments. She said they will be sent back.
Now I've sold my home and cannot get them to call me back with a payoff. What a scam. Our family dealt with Hurricane Ike better than Hurricane Chase. They compounded my debt, raised my note to an unaffordable amount and won't take my payment and they did send my Feb 1 payment back. this way they can collect more interest and put me deeper.
What turned out to be Disaster Relief turned into a Disaster Nightmare. And on top of all this, they took the goverment bailout money and raised my credit card Interest rates to 24%. Wow!!!
I have been trying to straighten out a finance charge issue for months. Mt minimum payment due was 110.00. I...
I just found out, as apparently other have as well, that Chase is now charging a $10/month...
I have had my Chase Visa Credit card since 1995. As they say, do the math: [protected] = 14 years.
On my January 2009 Chase Credit Card Statement I observed that my minimum payment amount was increased from $85.00 to $235.00 per month even though I have been paying $250.00 per month.
My account also had a Service Charge/Finance Charge of $10.00 even though I have never been late for any payment and had this account for over 10 years.
I learned that Chase was increasing Service Charges from zero to $10.00 per month or increasing interest rates to 7.99% if a customer had less than a 7.99% interest rate. The $10.00 Service Fee would be billed each month regardless of the balance including a zero balance.
I paid over $4700.00 to Chase Card Services and closed my account. It seems that Chase Card Services only wants sub-prime borrowers ...those people that can't afford to protect themselves from such criminal activity as I can.
It seems that Chase doesn't want Prime Borrowers such as myself and only want dumb consumer cows for them to herd.
Banks, Credit Card Companies and Financial Institutions need to be regulated now ...not a year from now. Also, it is my opinion that what these CEO's and Upper Level Managers need to be investigated for criminal activities by all forms and levels of government agencies.
A limit should be placed on what these CEO's and Upper Level Managers earn and they should be prohibited from purchasing stock in the corporation that they are employed with due to an obvious conflict of interest.
Additionally, people such as Madoff should be tried, and if found guilty, given a sentence of life in a real prison.
The American Public is not a group of consumer cows (as the CEO's and Upper Level Management seem to believe). We are individuals with rights ...equal to them and no less or no more.
We the American Public expect these criminals to be brought to justice and for them all to be removed from office once and for all.
I recommend that any of your readers experiencing similar problems to my own to do the following:
1. Send a written letter of complaint to:
a. The Chairman of Chase Bank
b. Your Congressman
c. Your Senator
d. The SEC Chairman
e. Makes posts all over the Internet as I am doing.
2. If possible, close your account with any bank/charge card company and do not open any new charge card accounts.
3. Attempt to keep only automatic debit accounts for paying services such as your Internet Service Provider.
4. Reduce and pay off any credit card company that you possibly can.
5. Do not open new charge card accounts no matter how enticing they may appear.
6. We need to bleed these banks to fail and tell our government to let them fall.
7. New, more legitimate banks will be created and we need to remember the names of upper level management and CEO's that are currently running these banks today and ensure that they never get a job in banking ever again.
I too failed to receive the e-statement from Chase Visa. I normally pay the charge on the day it is received which is about 3 weeks before due date with an e-check but no later than 2 weeks before due date. I had never incurred a late fee of any kind in my 65 years, and I have had a credit card since the 1960's when they mailed the card to you without asking. When I realized I had not made a payment to Chase I checked the site and there was the $15.00 late fee due to the $43.00 bill I had not paid and due 3 days earlier. Talking to the customer service was a lesson in futility. The best way to describe them is polite, that being an overly generous description, and indifferent, that being an understatement. I believe their hands are tied in re the late fees, and working with computers most of you know if it isn't in the system it can't be done, so I believe them. That being said if I didn't receive the statement I think they should have provisions for that at least for one occurence. I can't help but think that this is a problem that isn't a problem for THEM due to all the needed revenue it generates and I for one would have to be convinced this was not intentional in some way on Chases' part. This is a company that has been (mis) managed bordering on illegal to the point of needing federal bailout money so their credibility just isn't there, and I know mine is!! So, Jamie Dimon, if this the best strategy you can come up with to justify your $55 MILLION compensation for 2008 I would consider it stealing.
Chase Card Services has started charging me a monthly service charge for paying my credit card bill on-time! I have a balance on my credit card that is set a fixed interest rate of 4.99%. This month, my minimum payment amount was raised from 2% to 5% of my remaining balance and I'm being charged a monthly $10 service charge fee. When I called, I was told that in order to have the service charge removed and minimum balance dropped back to 2%, I had to agree to have them modify my fixed interest rate to a higher unfixed rate! This seems illegal to me but I'm not familiar with credit card laws. Chase is basically trying to strong arm me into accepting a higher interest rate. Any advice or suggestions on what other options I have available?
Today, I received a letter that they were raising my interest rate by 50%. Last year they offered a 'US...
Like many other people who have posted complaints about Chase's unconscionable change in promotional...
I received a call today from a guy at chase auto finance...very untrustworthy and manipulative. I asked him for docs. related to my car that was repo'd (voluntarily) and sold at an auction by chase. and the tone in his voice changed!...he eventually said my 04 landrover discovery was sold for 1800...lol! a car that i payed 26000 for! less than 2yrs ago!..these guys are thieves and will be reported. he called to do ME a FAVOR...he wanted to SAVE me money...unbelievable. i got myself into a very very bad loan with chase auto finance and Luxury motors in illinois...these people have no morals..they are thieves that prey on people. a $26000 car, with credit score in the mid 600's was financed close to $46000 and for 7yrs...i cannot believe what i got myself in!
I had never received a credit card from chase #[protected] which showed on my credit report from equifax, transunion and experian that I had a 60 days late.
I already sent the complains to chase bank they said thay will send to the credit bureau to fix this problem, since the know that I had never received that card. But until now equifax and transunion still had this problem on file, even experian
Already cleared this bad item from after receiving my letter.
I thought when you did have a bad item in your credit, all 3 credit reports had them in their records, then when a bad item had been cleared from one credit bureau the others should have the bad item cleared for you too, why the did not do that,
Then you have to send to 3 different companies for the same item to be cleared?
Please help me to clear my credit for something I did not do.
Mrs tuyet nguyen 1/22/09
Beware all Chase credit card holders. Starting this month, Chase is charging a $10.00 monthly service fee and...
I've had several banks servicing my mortgage loans and have never had any complaints till Chase Bank took over my loan!! Their customer service is awful. They do not want to hear you out, whether you're having a problem or just needs some questions answered! When you ask the customer service rep to transfer you to a supervisor they claim there is no supervisor available. They have a tone like they are going for employee of the month all the time! In these hard times they do not have any sympathy or care in the world if you are out of work or struggling to make payments. They need to send those people back to school. If I could get rid of them as my lender I would do it in a heartbeat!!!
No wonder the banks are failing. First of all I cant imagine how they will continue to stay open since they have worthless customer service reps. Lets just say when you call their customer service line you will be hung up on, transferred, or just plain lied to. It happens that I spent fifty seven minutes on the phone trying to pay my home-equity line of credit payment unbelievable I was hung up on, then transfered and hung up on and then when I finally got to the correct person they wanted to charge me 15.00 fee just to make a payment. I normally pay my payment on line with their website but the system wouldnt allow me something wrong with their upgrade in the system. "hello" you better beleive there is something wrong with their system its called (Ignorant customer service reps and rude nasty foreign speaking and american speaking call center reps. Oh yea no need to call them they have no one they can give you to complain to and beleive me you wont get a supervisor. I thought it was pretty funny when I ask for the president of the company's email I was told we dont have internal email?? Haha everyone knows better than that one. Glad to say I am closing my accounts with them and going with another business. I am sure I wont be missed I am just another account to them.
REVISED 12/30/2008-2nd Josie Harris P.O. Box 608574, Chicago Il 60660 ; [protected]...
I used to work for a company in the accounting department that was awarded a huge account with Bank One now...