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COMPLAINTS ABOUT CHASE BANK'S 'EXORBITANT CREDIT CARD INTEREST RATES HIKES TO 29.99 & 30.00%
Posted by Amachi on 02/21/2006
NEW YORK -- I have been reading the complaints on this website about how Chase Bank out of the blue has increased people's interest rates to 30%. This just happened to me in Feb 2006 statement and I am outraged! Like some of you, I have been a long-time faithful customer who has paid their bills on time. Now, I find myself in the position of having my credit ruined knowing won't be able to make these monthly payments which have almost doubled. Even, if I could make such payments, it would be like paying a 30 year mortgage with no end in sight. As far as we're concerned these credit cards are dead, so all we want to do is get rid of this debt & say goodbye to Chase. In fact, what's to stop the bank(s) from raising their interest rates much higher????I shall try again & see if can negotiate something with Chase to get these MONTHLY INTEREST RATES & payments reduced. If not, then see what agencies or lawyers can help me get this monkey off my back. I am having sleepness nights & stay stressed out over this. Is anyone out there looking into filing a Class Action Suit against Chase?? There had got to be simething we a a group can do to show our unity. How can Banks just be allowed to reuin people's lives like this? My husband has been telling me all along that Banks don't care about the "little people", "working middle-class poor" or whatever they call us. They pay us practically nothing on savings accounts but can charge us such high interest rates for them to profit we allow this? Why? Chase is worst than loan sharks. Hope to hear from some of you out there.

     
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Posted by KenPC on 2006-02-21:
Assuming that your credit is stable, and it sounds like it should be, just contact any of the other credit card providers, they will be drooling to give you a low interest balance transfer.
Posted by ejack053824 on 2006-02-21:
Cut the card up and send back in piece with a note saying "Take this card and stick in your arse!"
Posted by miketech on 2006-02-21:
Ken is right. If you can still get a low rate card do so and do everything you can to pay it off fast. I'm thinking that other credit card companies will follow Chase's lead and pretty soon it will be standard industry practice. They have enough lobbying interests in congress where they own the parts of the government they need to. There are no usry laws governing them. 30% is pawn shop rates.
Posted by DebtorBasher on 2006-02-21:
All credit card companies are raising their rates...this was out in the media before the end of last year...this is also what caused an increase in bankruptcies being filed before the October deadline.
Posted by dsmith68 on 2006-02-22:
If you have a good credit score, open up another credit card with zero interest, transfer the old outstanding balance and close the old card. I recently did this when Chase raised the rate to 19%. I got another card that gave 18 months zero interest.
Posted by ejack053824 on 2006-02-22:
How about...screw all credit card companies and just use your Checkcard instead. If you don't have the money....you don't need it.
Posted by motor710 on 2006-08-13:
I have also been hit by the loan sharks of Bank One/Chase. My saga began in April 2004 when I went from 9.9 APR to 29.99 APR. I paid the high interest rate for a year and They would not budge. I had perfect credit and even sent them copies of my credit report. They said that I was a credit risk. I never missed a payment or was ever late with a payment. So after a year of this I quit paying them anything. Yea, I had the numerous phone calls and collection calls and no one could ever validate the debt. I haven't heard from any of their sleezy collectors in four months now. If they take me to court so be it. I will be there. ....we'll get a judgement, so what I live in Texas and you can't garnish my wages or take my property. I told them do what you want. I will not pay you one more cent. Don't need to, I just bought a 2007 corolla and paid cash!!!! So Bank One/Chase your sleezy tactics won't work on me any more? You say that I owe you 16782 dollars, Come get it!!!
Posted by sammie5804 on 2006-12-19:
We also had them jump are intrest rate from 12% to 29.32. I will admit that I had made payments about 2 times a month, then one time I forgot(I'm sure that is heard a lot)but the truth, so I made the rest of the payment 2 days later. They raised are rate. We do owe a lot of money and can not make even the intrest payment, so forcing us to hire a lawyer and possibly file bankrupsty. They are terrible
Posted by BankofAmericaRipsOffAmerica on 2007-06-30:
I have not had luck with Chase. I went to them for a home equity line, the terms were very specific, including the rate, the fees and all that, until I went to the closing! Then I noticed that there were so many additional fees and the rate had gone up by three points! I was really despartate to get the money to pay off a loan that had come due. So I closed, but decided if I let Chase get away with it, they would do it to others, so I backed out. I had to eat the Appraisal fee of $400 on my house, but went to Wells Fargo and got the loan in about a week. They did everything they said they would at the terms we agreed on. I will never bank with Chase. Plus, I think JP morgan Chase bank is also Bank of America! I recieved a check in the mail for a payment I made online with Bank of America, it was returned to me because the account had been over paid, And though I made the payment through Bank of America online bill pay, the check was issued from JP morgan Chase bank. Hmmmm,,,,didn't even know I had an account with them. Go figure~ Two banks never to deal with unless you want to lose your money: Bank of America and Chase bank!
Posted by Carolina Girl on 2008-04-22:
I stumbled across this blog much by accident, searching for others who have had, or having credit card issues with Chase Bank.
I had a Chase Credit Card, which I used in during financial crises. I began making payments after this event, but I was not able to always make the "required" payment, because I was struggling financially to get back on my feet. I tried communicating with Chase to get assistance, but NO HELP!!! This bank has Financially Raped me!!! The payments are so out of control because of the exhorbant interest rates, I can't even put a dent in the mounting bill. I have NEVER had financial problems, paid my bills on time, but this Monster has ruined my life. I am searching for others who would be willing to take them to court. What's your story? Did you have any success in resolving your credit card issues with Chase?
I have contacted the Federal Reserve Bank, wrote letters to Chase Board of Directors, wrote letters to Congress. Where can we get help to make them accountable for Financially Raping the public???
Posted by Anonymous on 2008-04-22:
Let me help you understand, CarolinaGirl. How much money have you contributed to the coffers of elected officials? None? Then you are 'normal'. On the other hand...banks, CC issuers, student loan servicers, mortgage lenders (you get the point) are among the heaviest contributors to campaign funds. Now, I ask you, who do you think gets to ring the bell of Congress more? You? Or the banks?
Posted by bribri6 on 2008-06-07:
FOR MOST OF THE PEOPLE WHO COMPLAIN ABOUT THEIR CHASE CARDS SCREWING THEM, TAKE RESPONSIBILTY FOR YOUR OWN ACTIONS. WITH THE COMPLAINTS I READ , LETS GET A REALITY CHECK.
1. WHEN YOU SIGNED THE APPLICATION, YOU AGREED TO THE CARD. JUST BECAUSE YOU DIDNT ACTIVATE IT, DOESNT MEAN YOU REFUSED THE CARD. IF YOU DID NOT WANT THE CARD, THEN CALL UP AND CANCEL IT. DONT JUST ASSUME BECAUSE YOU DIDNT ACTIVATE IT THAT IT CANCELS OUT THE CARD.

2. CONVENIENCE CHECKS, ALL THE CONVENIENCE CHECKS STATES, THERE IS A 3% TRANSACTION FEE ON IT, IF THEIR IS A CAP ON IT, IT WILL SAY IT ON THE CHECK, DONT JUST ASSUME THAT IT HAS ONE.

3. IF ANYTHING HAPPENS WHERE DUE DATES ARE CHANGED OR ANY OTHER IMPORTANT INFORMATION, THEN IT WILL APPEAR ON YOUR STATEMENT. COME ON PEOPLE THAT IS JUST PLAIN STUPID IF YOU DONT READ YOUR STATEMENTS. HOW DO YOU EXPECT TO BE TOLD OF ANY CHANGES ON YOUR ACCOUNT.

4. IF YOUR CREDIT LINE IS REDUCED , IT IS BECAUSE YOUR CREDIT SUCKS. YOU ARE OVEREXTENDING YOURSELF. CREDIT CARDS ARE UNSECURED LINES OF CREDIT. THEY CANT TAKE AWAY YOUR CAR OR HOUSE. THEY UPDATE WITH THE CREDIT BUREAU MONTHLY, THEY HAVE TO PROTECT THEMSELVES TOO.

5. CASH ADVANCES, THEY DONT WANT YOU TO USE THE CARD FOR CASH ADVANCES. IT DOES NOT MATTER IF YOU HAVE A 0% FOR PURCHASES AND BALANCE TRANSFER. CASH ADVANCES HAVE A HIGH APR AND TRANSACTION FEES. IT IS IN THE CARD MEMBER AGREEMENT THAT YOU AGREED TO. IF YOU ARE SOOO CONVINCED THAT YOU WERE NOT TO BE CHARGED A DIFFERENT APR FOR CASH ADVANCES , THEN FAX THE PROOF TO THE CORRESPONDENCE DEPT. GUESS WHAT YOU CANT, BECAUSE IT IS IN THE CARD MEMBER AGREEMENT.

6. ALL CREDIT CARDS PAY OFF THE LOWEST APR FIRST WHEN YOU MAKE PAYMENTS. SO GUESS WHAT IT WILL ALWAYS PAY OFF CASH ADVANCES AND PURCHASES LAST WHEN YOU DO A SPECIAL PROMOTION FOR LOW APR ON BALANCE TRANSFERS. GUESS WHAT , ALSO IN CARD MEMBER AGREEMENT.

7. PEOPLE WHO CANT MAKE PAYMENT BECAUSE THEY ARE UNEMPLOYED. GUESS WHAT YOU WERE PROBABLY OFFERED CHASE PAYMENT PROTECTOR WHEN YOU SIGNED UP FOR THE CARD AND YOU DECLINED IT , BECAUSE IT WOULD NEVER HAPPENED TO YOU. IF YOU WOULD NOT HAVE BEEN SO CHEAP THEN YOU COULD HAVE DEFERRED PAYMENTS UP TO 2 YEARS. SO DONT COMPLAIN WHEN THEY WANT THEIR MONEY. ONCE AGAIN UNSECURED LINE OF CREDIT , CANT TAKE AWAY CAR AND HOUSE.

8. CHASE DOES NOT DO 0.00% AND NO PAYMENTS. SOME INTRO OFFERS ARE 0.00% FOR A LIMITED TIME, BUT YOU DO HAVE TO MAKE PAYMENTS. COME ON PEOPLE READ YOUR CARD MEMBER AGREEMENT, IF YOU DONT WANT TO READ IT , CALL CUSTOMER SERVICE AND ASK QUESTIONS.

9. ANYTHING LIKE ID PROTECTION AND OTHER CHASE SERVICES, ARE ONLY PUT ON WHEN VERBALLY AGREED TO OR TAKING ADVANTAGE OF A SPECIAL OFFER IN THE MAIL. THEY HAVE PROOF OF ALL TRANSACTIONS.

10. FOR PEOPLE THAT HAVE SECURITY HOLDS. FIRST THING FIRST. THIS IS CHASE'S MONEY NOT YOURS. IF YOU GO OUTSIDE OF YOUR NORMAL SPENDING ACTIVITY THEN THEY PUT A SECURITY HOLD ON CARD. DO YOU ACTUALLY BLAME THIS ON THEM, IF FRAUD IS HAPPENING YOU DONT PAY FOR IT , CHASE DOES, THEY NEED TO PROTECT THEMSELVES TO.

11. FINANCE CHARGES. IF YOU REVOLVE A BALANCE, AND THEN YOU DECIDE YOU ARE GOING TO PAY OFF THE BALANCE IN FULL. ON YOUR LAST STATEMENT, THOSE WERE THE FINANCE CHARGES UP TILL THE DATE OF YOUR LAST STATEMENT. HOW ARE THEY SUPPOSED TO KNOW THAT THIS MONTH YOU ARE GOING TO PAY IN FULL. SO YOU WILL HAVE ANOTHER BILL WITH THE FINANCE CHARGES FROM THE DAY AFTER THE DATE OF LAST STATEMENT TILL THE DATE THAT YOU PAY THE BALANCE IN FULL. THEY DO NOT CHARGE FINANCE CHARGES AHEAD OF TIME.

12. ALL THE PEOPLE WHO COMPLAIN OF LATE CHARGES WHEN MAILING THE BILL. EVERY ONE KNOWS HOW SLOW THE MAIL IS . GIVING IT A COUPLE OF DAYS TO GET THERE IS NOT SMART IDEA. IF YOU ARE RUNNING THAT LATE, THEN GO ONLINE AND MAKE A PAYMENT , IT IS FREE WHEN YOU PAY ONLINE. ALSO, THEY ARE A BANK AND AFTER 4PM EST ,IT GOES TO THE NEXT DAY. IF YOU MAKE A DEPOSIT AT YOUR BANK AFTER A CERTAIN TIME, THEN IT IS CONSIDERED THE NEXT DAY. SO WHY DO YOU THINK YOU CAN WAIT TILL 11:59 PM TO MAKE YOUR PAYMENT.

13. IF YOU HAVE A SPECIAL PROMOTION FOR A LOW APR, THEN THAT APR IS ONLY IN EFFECT WHEN THE ACCOUNT IS IN GOOD STANDING. NO MATTER IF THIS WAS YOUR FIRST TIME LATE OR YOU WERE ONLY LATE BY 1 DAY. THEN GUESS WHAT. YOUR LATE AND THE TERMS OF THE PROMOTION WILL CEASE AT THAT MOMENT. DON’T GO CRYING ON THE PHONE, STATING YOU HAVE BEEN ON VACATION OR YOUR PAYMENT DIDN’T REACH THEM ON TIME. BECAUSE YOU KNEW THAT THE TERMS OF THE PROMOTION WERE TO KEEP ACCOUNT IN GOOD STANDING. IF THEY PROMOTIONAL APR IS SO IMPORTANT YOU THEN MAKE SURE THAT PAYMENT GETS THERE ON TIME.
14. TO ALL THE PEOPLE WHO CLAIM THEY DIDN’T RECEIVE THEIR STATEMENT. COME ON PEOPLE, YOUR PAYMENT IS DUE AROUND THE SAME TIME EACH MONTH, SO YOU SHOULD KNOW THAT REGARDLESS IF YOU RECEIVED A STATEMENT OR NOT, THE PAYMENT IS DUE. TOO MANY TIMES PEOPLE GO ON THE INTERNET AND ACCIDENTLY SIGN UP FOR PAPERLESS STATEMENTS AND THEN COMPLAIN THAT THEY DIDN’T RECEIVE A PAPER STATEMENT, THE ONLY WAY TO BE SIGNED UP FOR A PAPERLESS STATEMENT IS BY THE CARDMEMBER THEMSELVES ON THE INTERNET. A CUSTOMER SERVICE REPRESENTATIVE CANNOT SIGN SOMEONE UP FOR PAPERLESS STATEMENTS.

15. FOR ALL THE PEOPLE WHOM DON’T PAY ANY FINANCE CHARGES. YOU ARE CONSIDERED NON PROFITABLE. SO GUESS WHAT , IF YOU HAVE ANY FEES (LATE FEE, OVERLIMIT OR FINANCE CHARGES DUE TO LATE FEE, ETC) YOU WILL NOT GET THE FEE REFUNDED. AND THREATING US THAT YOU WILL CLOSE THE ACCOUNT OR TRANSFER THE BALANCE TO SOMEONE ELSE. GUESS WHAT CHASE WILL BE MORE THAN HAPPY TO CLOSE YOUR ACCOUNT. YOU COST THEM MONEY EVERY MONTH TO KEEP UP YOUR ACCOUNT. THEY WANT YOU TO GO BYE BYE. PAYING YOUR BILL OFF IN FULL EACH MONTH DOES NOT MAKE YOU A GOOD CUSTOMER. MAKES YOU A VERY BAD CUSTOMER.


IN CONCLUSION , I COULD GO ON AND ON ABOUT THE STUPIDNESS OF INDIVIDUALS AND HOW THEY CANNOT TAKE RESPONSIBLITY FOR THEIR OWN ACTIONS. BUT I THINK I HAVE TIPPED THE ICEBERG. SO LASTLY, READ YOUR CARDMEMBER AGREEMENT AND IF YOU HAVE ANY QUESTIONS CALL UP CUSTOMER SERVICE AND ASK. AND MOST IMPORTANTLY TAKE RESPONSIBLITY FOR YOUR OWN ACTIONS AND STOP BLAMING EVERYONE ELSE
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$25 Billion In Bailout Money And I Get Treated Like This???
Posted by Cptrade on 03/13/2009
I have carried Capital One / WaMu / Chase Visa card for many years. My use of the account has varied from periods of carrying large balances to periods of not using the account at all. Most recently, I haven't used the account much because I have better terms elsewhere. I did use the account to pay for some Christmas purchases and was still carrying about a $600 balance as of the end of Feb. 2009. Then the unthinkable happened. I MISSED A PAYMENT DATE!!! The minimum due: $15.00. They called, I apologized for the error and told them I'd be sending $200 (more than eight times the minimum due) right away, which I did. The payment was due March 2, they received the payment March 4. I then received a letter stating that on March 3, Chase had reduced my credit limit to $568 (from $15,350) due to the late payment. The $568 limit maxed out the credit limit, thereby screwing my credit rating for excessive credit/debt ratio. I contacted Chase and asked for an explanation.

I was told that it was now Chase policy to reduce credit limits to the amount owed when payments were missed. I asked that the credit limit and interest rates be restored to their previous levels. I was told that it could be reviewed, but that would require that credit histories be accessed and committee meetings be held and several other wonders of the world be constructed before a decision could be made, and, of course, no guarantees could be offered. I stated this: Put the account back to where it was or I will pay off the remaining $350 balance today, close the account and spend the rest of my life avoiding doing business with Chase. Several minutes of hemming and hawing later, I determined that there would be no change on Chase's part, so I paid it off and closed the account.

My question is this: When the American taxpayer was forced to give at least $25 billion to Chase, were there any responsibilities that ran with those funds, either legal or moral? Wasn't the purpose of this banking bailout to spur lending and ease the "credit crunch"? I'm pretty sure the $15,000 of credit that got yanked from me wasn't re-distributed to some other credit-needing individual. I'm pretty sure Chase just shut down that credit facility and took a potential liability off its balance sheet. All the better to raise the stock price and maybe acquire some smaller banks that aren't in trouble. This "bailout" has turned into a fiasco - no strings were put on the funds and the banks aren't using them for the intended purpose. I'm lucky - I have the choice to pay this account off and walk away. I feel for all of those who don't have that option. Good luck to you - you'll need it dealing with these sharks.

I intend to keep track of how many solicitations I get from Chase asking me to open an account with them (credit card, bank account, mortgage, home equity LOC, etc.) for the next few months. I'm betting that it will be many (no reason for them to change now - I already get about one a week). If enough show up, I'll put it all online as a blog to illustrate the idiocy. I will also wager that the terms offered in those solicitations are better than anything they would have offered me before this incident happened.

Someone needs to tell them that it costs six times as much to attract a new customer as it does to keep an old one happy. But they have $25 billion to spend learning that anew. And your grandkids can pay the bill. God Bless America!!!
     
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Posted by Anonymous on 2009-03-13:
"My question is this: When the American taxpayer was forced to give at least $25 billion to Chase, were there any responsibilities that ran with those funds, either legal or moral?"
Answer: NO.
Why: How much money have you given to your congress-critter's campaign fund? Unless you can hope to match the amount given by banks, other lending organizations, and their PACs...you can expect nothing from them. We have the best government money can buy.
Posted by tnchuck100 on 2009-03-13:
Doc, might I make a slight revision to your statement?

Not:
We have the best government money can buy.
But:
They [the banks] have the best government money can buy.
Posted by Anonymous on 2009-03-13:
I will use your version in the future, chuck. NICE! 'We' don't have a government, 'we' simply respond to the edict issuers. Thanks!
Posted by Opine on 2010-06-29:
I also had this happen when Chase took over my WAMU card. The only difference was that I had NEVER missed a payment or made a single late payment. Their reasoning for lowering my credit limit AND raising my interest rate? My credit score lowered from an unpaid cell phone and medical bill. I told them where to go and stopped paying the bill altogether. I still have another card with a company that valued my business and did not double my monthly interest payment. I told the Chase rep on the phone they could consider the bailout MY credit card PAID IN FULL.
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Chase Bank Late Fees
Posted by BraveExplorer on 04/09/2009
NORTHEAST, OHIO -- On May 21, 2008 I contacted JP Morgan Chase Bank concerning my VISA account. Late payment and finance charges were added in the amount of $42.84. I was told they would not be reversed because my credit card payment was received past the due date. I countered and said it was more likely a processing problem on Chase’s part than a postal problem or mailing my payment late. If it had been my fault, I would have paid the late charge. I closed the account and Chase Bank kept adding late charges and finance charges every month thereafter on the preceding late statement charges. It does not take 7 days to process a payment when ACH and Electronic Debit is available. Most transactions are closed in 3 days of mailing time.

I also brought up my good payment history, but this was ignored. I have proof that in recent and prior months Chase has posted my payments in as little as 4-5 days and not 8 as in May. I have contacted all credit reporting agencies because of the adverse reporting by this bank. In fact now I have had letters sent to me by other creditors regarding my future with them. Because of past and current actions, I have filed a complaint with the Comptroller of Currency that investigates grievances against banks with “N. A.” after their name.

I am now looking to file a lawsuit or join an Ohio class action lawsuit against JP Morgan Chase Bank, N. A.
     
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Posted by SLR+ on 2009-04-09:
Your past payment record does not matter. YOU do not matter. The DOLLAR is what matters to them. NEVER forget that! Be CAREFUL!!!!! If you are "Late" on any other payment in the next 12 months they will jack up your interest rate 3x-4x what you're paying now.

Consider sending payments via registered mail that has to be signed for so you can PROVE they got it a certain day. OR send it via UPS or FEDEX for the same thing.
Posted by yoke on 2009-04-09:
How far in advance of your due date did you send your payment in?
Posted by goduke on 2009-04-09:
You can also use your bank's online payment system to pay the bill. That way, if there's a problem, you can make the bank chase it down.
Posted by Anonymous on 2009-04-09:
You are right SLR+. I disagree about using Registered Mail to send payments. Believe it or not, some places will not accept Registered Mail for payments because someone has to physically sign for the piece (costing them money). Better to use USPS Priority Mail with delivery tracking. Costs about $5 per piece and works great. DO NOT count on it being delivered in 2-3 business days as advertised by USPS!
Posted by yoke on 2009-04-09:
Doc, I have sent my car payments registered and had no problem with someone sighning for it. After a couple of months of them attempting to say my payments were late, which they were not and I had proof of it, they stopped the late fee's. I think my account must have gotten flagged that the payments are sent registered, LOL. My payments were due on the 15th of each month. I would send the payment out on the 1st (military payday). One month they received it on the 4th and around 3 weeks later I got a call saying they had not received my payment. I was able to tell her when it was there and who received it. That check had already cleared my account. After that time I never got a call saying I was late.
Posted by Anonymous on 2009-04-09:
"Some" places will not accept anything requiring a person to sign for it (per my Postmaster, the IRS is one). Priority Mail with delivery tracking can do the same as Registered for much less money. According to my Postmaster, Registered Mail is best used when mailing negotiable instruments, cash, or similar. Because each person handling the piece must sign for it, Registered takes longer.
Posted by yoke on 2009-04-09:
doc, I wasn't disagreeing with you I was giving my story, LOL. I wonder if alot of places don't want to have someone there to sign for the mail that way they can charge the late fee.
Posted by Anonymous on 2009-04-09:
Me neither, yoke! I was just elaborating. Not sure on who, except the IRS declines any mail-piece needing a John Henry. What does Registered cost? About $10 per? I think I've only used it once or twice.
Posted by SLR+ on 2009-04-09:
yoke, your story was exactly my point. If they get away with it once they'll try it over and over. Once you provide them the proof the problem is on THEIR end, it's amazing how fast they'll quit calling.

To them you're revenue, not a person. (Wow I'm jaded! lol)
Posted by will7489 on 2011-08-03:
This thread is old, but on the front of my electric bill it states that they mail out over 3 million bills every month. Inside it states on the return envelope to send payment only, not correspondence, to that address. This particular company services parts of 5 states and your mail is likely being routed to different centers and may even be handled at the end point by automated machines due to the volume. Requiring signatures disrupts that process, but does provide you proof and reassurance.
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A Families Last Cry... We despise Chase Home Finance
Posted by MindyK on 12/11/2008
MENTOR, OHIO -- I will add to the horrible business practices that Chase and First Place Bank have. My husband and I both lost our jobs in the same year about 4 months apart from each other. Amongst other family problems, I began the workout process with our original mortgage company. I was awaiting the final papers from First Place Bank when I receive a letter that my mortgage was sold to JP Morgan Chase. I spent months arguing with Chase that there had to be some type of assistance for my situation. They kept telling the that they don't reduce monthly payments. I understand that but don't you offer some type of assistance.

After 8 months of arguing and attemping to contact every government agency to prevent foreclosure, I received foreclosure paperwork. When I say every agency, I mean every agency: Hope Now, Consumer Credit Counseling, NHS of Greater Cleveland, other mortgage companies, my former mortgage company, just to name a few. I found out that Chase did have programs to help with my specific situation...why am I being discrimanated against? I have no choice but to hire an attorney and a loss mitigation specialist who proceed to call Chase on a daily basis and threaten legal action if they don't help me. I can't be discriminated against if I have the qualifying events that they list. They have helped others with the same circumstances.

So in the 11th hour, Chase finally send the paperwork for the option they chose for me. I didn't even get to negotiate anything. But what do you do when your house has an auction date and your 4 year old will have no home. So here we are 6 months later, I have yet to receive anything from Chase that they are receiving my payments and actually applying them to my account. They REFUSE to send me a mortgage statement. Everytime I call they tell me to call the person Bryan who has been assigned to my case.

Guess what he never calls back. No one will give me information regarding my mortgage. So based on some legal advice, I withheld my Nov. payment. NO ONE EVEN CALLED ME TO SEE WHY I NEVER MADE MY PAYMENT. So I did the same with Dec. STILL NO CALLS. My online account states that I haven't made a payment since August. WHERE IS ALL MY MONEY GOING? Today, my only mission was to get information about my loan.

I was hung up on, transferred to a fax machine, told that I needed to call the phantom Bryan, and told that no information was going to be given out. Now I sit in tears, I call back and finally speak to someone who has a heart. She tells me that my payments are making it to my mortgage but she can't explain anything else to me. She can get fired for giving me just that small piece of information. What the hell is that about...its my mortgage? I am so tired of dealing with Chase and I guess I have to take what ever they deal to me because no one will help me not even our own damn government. But I am sure that Chase will be fine and all the top execs will make out with the government bailout money. I guess I write this with the hope that someone who reads this can help. I don't know where else to turn and praying just doesn't seem to help anymore.

     
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Posted by hubbard53 on 2008-12-11:
wait. you're complaining about Chase working out a plan with you to prevent foreclosure? And stopped paying your arranged payments b/c someone didnt call you back?
Posted by Anonymous on 2008-12-11:
Oh boy, this is bad. The reason that no one at Chase is talking to you about your account probably because your account has been refered to legal (the next to last step before auction). When you worked out your arrangement you should have signed some form of documentation concerning how, what, when, and for how long that you have to defer your payments, I don't remember exactly what this form is called but it should of required you and your husbands signature. The legal advice you got about skipping your payments was REALLY bad!!! Technically if you had a legal agreement with Chase, you just defaulted on it which would give the bank every justification to proceed with the foreclosure process. I really hope I am wrong on this, but I don't think I am
Posted by tnchuck100 on 2008-12-11:
I sympathize with you Mindy. I have also had to deal with Chase on my mother's mortgage. The problems were her fault but attempts were made to correct the problems. We, too, ran into an uncooperative organization. They gave all impressions from total indifference, flat out refusal to discuss the situation to actual pleasure in being difficult.

In our case the house is now abandon and they have done nothing. They won't communicate, they haven't foreclosed. They have done nothing for the last 6 months.

You will probably need an attorney. Good luck.
Posted by lobo65 on 2008-12-11:
I can't believe you decided to skip payments.
Posted by Suusan B. on 2008-12-11:
It sounds to me like Chase offered you a loan modification so you could keep your home but the offer was made after an auction date was set so that means that the foreclosure process was complete. Chase send your their loan modification offer and you are not in any position to negotiate - - it was a "take it or leave it" offer. This was six months ago and you are now two payments behind because someone told you to stop making your payments - - bad move. This means that you defaulted on the original mortgage and are now in default on the modified mortgage. Your account is obviously being handled by Chase's legal department and that is why they won't provide you a statement of your account. Banks charge through the nose to process a foreclosure and even if a modification is agreed upon "at the 11th hour" the borrower still has to pay all costs and fees associated with the foreclosure proceeding which is where I bet your mortgage payments are going. You obviously received bad legal advice to skip payments and this is not discrimination. Just because you have the "qualifying events" to request a loan modification doesn't mean that the lender will qualify you for a modification. Unless you can come up with a big pile of money I fear that you should consider your home gone as you have now defaulted on two loans.
Posted by Disaster Worker on 2008-12-11:
Some excellent posts here! It is so sad when families have a hard time and lose their homes and feel victimized, but to not make scheduled, agreed payments when you have the funds to do so is not right.
Posted by Hard Working American on 2010-02-02:
Its not the customers fault they she defaulted in her payments. If you loose your job, the well does run dry. JP Morgan Chase needs to get organized and put together and staff a department that can handle these new types of modification loans. Its a new world we live in, yes they have New and Refinance Loan Departments, but they now have to realize that they need to keep up with the market of Foreclosures, Modifications, Auctions, which they are not prepared at all to handle. Once they realize this, then the situations will get better, and the American People will get assistance. Today if you walk into JP Morgan Chase and ask to speak to the Mortgage Loan Office, they cannot help you with a Loan that could or will be default, they can only help you with Refinance or new loans. Keep in my, refinance loans if you are not up side down which is what JP Morgan and every other fianancial institution now have to come up with new plans, new offers, to help the American People. Is this not what the Bail Out money was for??? Jamie Diamond the CEO, shame on you for not hiring the right people to get this program organized. There is no reason one any customer or person should be put out on the street for uncontrollable circumstances. Are we not helping Haiti, or any other countries that need help, why cant the Amercian people help each other.
Posted by PepperElf on 2010-02-02:
It is also not the fault of the people you owe money to
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Counterfeit Check
Posted by EMG1085 on 09/07/2013
MIAMI, FLORIDA -- Some thief orders temporary checks of my account and did two checks. One for $ 1,738.00 and the other for $ 1,789.00, (thief) went to the bank and cashed these checks. When I went to the bank after my accounting notified me, the bank denied my claim because it was over a month old.

Why didn't the teller verify my signature? And after my real check came to the bank with the same Ck No. the bank did not return the check or notify me. This is supposed to be a red flag TWO checks with the same number and different amount.

Now the bank doesn't want to take responsibility of their negligence.
     
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Posted by Old Timer on 2013-09-07:
Take it to the police or DA. That might get Chase's attention. If not, then sue in small claims court, they might win that one on the 30 day business. If everything fails you you might be able to write it off on your taxes as a loss.

Just more reasons why I hate big banks and only use my credit union.
Posted by John Nicholson on 2013-09-07:
See an attorney
Posted by cmthru on 2013-09-07:
Unless you are personally known to each and every teller at all branches they don't know it's false signature. That the bank passed two check with the same number is reason for concern. And that they are refusing to do something about it it very serious. Contact the state banking commission at http://www.flofr.com/StaticPages/FileAComplaint.htm and file a complaint. They need to investigate. You need to stay on top of this until your money has been returned.
Posted by Soaring Consumer on 2013-09-07:
I suggest filing a police report ASAP.
Posted by CU on 2013-09-07:
As a rule, tellers do not verify signatures. They are too unreliable. They do however, check ID. So if the forger also had good fake ID, it's possible to get by.

Further, since you are free to have checks printed wherever you want, banks don't track check numbers beyond what they need to print the statement.

However, you, on the other hand, have a responsibility to open and reconcile your statement in a timely enough fashion that when you report a forgery the bank stands a chance of a recovery. This is not bank policy, it is law and is spelled out in the Uniform Commercial Code.

Crimes like this tend to be inside jobs. If the forger cashed the check at a branch, then the bank has his photo. Have you asked to review these photos to determine if you know the thief?
Posted by yoke on 2013-09-08:
It does sound as if the OP did reconcile his statement on a timely fashion. You get a statement once a month and that is when the accountant found the fraud. The thief knew enough about this account to know when the cycle started and ended. Sounds like they were smart and did it at the beignning of the cycle so the accountant would not catch it until into the next month, knowing that the bank would say it was over a month ago. Sounds like an inside job at the bank. Time to call the police.
Posted by CU on 2013-09-08:
You have thirty days AFTER you recieve the statement. One thing further on check numbers: two check for different amiunts with the same number do not raise any kind of flag. It happens all the time. But... two checks with the same number for the same amount will be flagged instantly, probably right at the teller window. Now that people can take pictures of the check on their phone and make a deposit, the banks have to assue that the same check doesn't get later deposited at a branch. It's amazing how many people do just that. They either forget that they deposited it electronically, or they are not sure it really went in, so they deposit it again just to make sure.
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Chase Mortgage Is a Complete "Bait and Switch" Operation
Posted by Catward on 06/25/2013
COLUMBIA, MARYLAND -- Chase reached out to me via multiple phone calls and federal express packages telling me that I was approved for a no cost modification of my first mortgages on two investment properties. Then, after I called to inquire, I was sent two, full document packages and my loans were "put into processing".

Note, these modifications were for on time paid, first mortgages, non-distressed properties. I did not reach out to Chase for a refi or modification.

After I submitted the documents, there were many unanswered emails and phone calls from me to Chase inquiring as to the status of my deal.

Now, Chase is telling me that my rate lock has expired and that they will continue to process my loans only if I agree to pay $3850. I believe that this process is their scheme. Do not fall for it.

Additionally, I selected a title company other than the one that Chase uses--Maryland law requires that borrowers have the right to select their title company. My selected title company was never contacted by Chase to commence title work. However, I was told by the Chase representative that my files were waiting for the title work. This could not have been true.

Warning--do not bother with Chase and their promise of a no cost refi. They simply want to charge you fees.
     
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Not a good choice for business accounts
Posted by Cyoungblood on 09/14/2012
ILLINOIS -- Chase’s slogan: “The right relationship is everything”: How would you like your financial institution to work against you when an employee is stealing from you?

Being a female small business owner supporting five employees, the right relationship is everything; the internal relationships with your employees and the relationship with your financial institutions. These relationships can nurture the growth of your business and make you feel as if you have an entire support system in your corner; a support team in place to help elevate you to success and to support you through the trying times of entrepreneurship. I assume this is what JP Morgan Chase wanted us, as a consumer, to feel when they chose this as one of their heartfelt slogans. Now I know their marketing and operations are unrelated.
I had been a Chase account member since 2007, and our “relationship” was satisfactory until it was brought to my attention that unauthorized charges were happening on my account. Upon this knowledge I closed my account in August of 2011 only to learn that Chase then allowed an employee of mine to fraudulently obtain a card on my closed account and run up charges.
As if the discovery of interoffice betrayal was not enough, Chase is making things even more difficult. I have found that Chase has misrepresented themselves in their fight to “stop fraud in its tracks”. There was no “Fraud Monitoring” which is their sophisticated tool to detect abnormal charges. In my case, they were clearly personal charges (Legoland, retail shopping, and child care). They also took money without authorization from my operations account to cover these fraudulent charges and have yet to provide proof of their right to do so. I am still dealing with their “Zero Liability” promise, but its more than a little hard when they’ve taken your money and ignore the written requests they asked for.
For example, when the employee who was fraudulently charging rerouted the bills to her email address, Chase didn’t call me. When Chase saw line after line and page after page of charges inconsistent with a business account they never once called me or wrote to me (over $46,000.00). Then the game came out “oh we closed your “card” when you asked but not your “account”. My request was to close the account and they have audio tape (“this call may be recorded”) which they have said they’d provide a copy of on July 11, 2012, but as of August 30, 2012 no recordings have been received.
In my opinion Chase is only interested in having the “right relationship” with your money as in, they have it and you don’t. Based on my experience, I would recommend any business owner who has any reasonable expectation of their financial institution working with them; steer clear of JP Morgan Chase.
     
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Posted by CUontheFlipSide on 2012-09-14:
This is a tough situation, and I'd hate to be dealing with it myself. Did this employee have legitimate access to the account? Was she (he?) a signer? The problem is that if they were, then they also had the ability to re-open the account, and re-route emails. Since it was you that gave them this access, the bank has no reason to question it.

If your employee did not have legitimate access to the account, then Chase must make you whole. But if they did, then it is a civil matter, and your recourse is through the courts, and against the individual. For this much money, you should really have a lawyer involved, if you don't already.
Posted by trmn8r on 2012-09-14:
Hopefully you are pursuing action against the employee who is the root cause of the problem. Somehow they got pretty complete access to your account, and as the reply above points out that could be legitimate or not legitimate.

I have a business account with Chase, but I have no business. I use my card at all kinds of establishments - it never occurred to me nor do I recall being told that would be monitored.

In the past, the only fraud detection I have come up against was when I travelled between 2 or more states within a day and made several charges.

I have both a business and non-business card with Chase, and I love them. Opened about the same time you did. I'm sorry you had this problem. Good luck pursuing the right culprit, whichever it is.
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Free Checking
Posted by Dianeftrotter on 06/30/2012
LARGO, FLORIDA -- I am treasurer for local support group of [snip] a non, profit organization registered in New York state. Our title is [snip] I was trying to find a bank with free checking account since we are a low budget nonprofit group. I was told that as long as on of our signatories was a veteran we would be eligible for free checking account. I provide them with identification for one of our signatories to that effect.

To my surprise after several months a fee was added to our monthly statement. I called the bank and received no satisfaction. In fact by the time I got to the bank a week later to officially close the account they added another fee. I was never offered any explanation why the original offer was not honored. I have since put our monies in another bank.

     
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Posted by trmn8r on 2012-06-30:
Were you given no excuse whatsoever, such as the first CSR gave you incorrect information?

Did you open the account in person? If so, I would have gone back to that branch and demanded and explanation from whomever opened the account.
Posted by jktshff1 on 2012-06-30:
Was the signatory the one that signed all the checks?
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Mortgage Loan stopped 1 1/2 weeks before closing!!
Posted by Judyholmes007 on 03/14/2012
SHERMAN, TEXAS -- I hope I am writing to someone who can check this out. My husband and I had our home up FOR SALE. A couple (Mexican) came to see our house and fell in love with it. They went to Chase for financing, got their pre-approval, and we were all happy campers.

Now here we are, about 1 week until closing. My whole house is packed up, movers are scheduled, new house for us is ready for closing 2 days after we close on this house. BOMBSHELL!! Our realty company called yesterday around 6pm and said Chase Underwriters decided to cancel the loan.

There people had a pre-approval letter, we all had moved forward in good faith, and now Chase has pulled the loan? How crazy is that? We are all so disgusted with Chase for these actions we are thinking seriously about filing suit against Chase, and calling NBC for an interview about Chase's bogus loans, and how these "Big Dogs" have jerked the common everyday family around! I have talked to several people about this and they cannot believe how Chase treats their customers. I am not going to take this laying down. It is wrong for Chase to treat people this way. Our last
name is Holmes and the buyer's name is Sanchez. I am going to spread this as far as I can go so that people may know just how hard-hearted Chase Mtg is.
     
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Posted by traceylynn on 2012-03-14:
The problem isnt Chase. The borrowers had to prove what they gave Chase as far as income, debt, sales price, ect. was factual. Somewhere along that line something didnt match up and that is why it was canceled. The 'pre-approval' letter is off of information given to Chase and Chase typed up that letter in good faith that those numbers were right. Obviously they werent which is not Chase's fault.
Posted by Kris10 on 2012-03-14:
Unfortunately, pre-approval isn't an approval. I'm sorry to hear about this, but I can't see how it's really Chase's fault. They probably found something that made them decide the loan was too high risk or something equally as disturbing to a company who is in the business of loaning out money and getting it back.
Posted by trmn8r on 2012-03-14:
Think how "crazy" it would be for a bank to loan a ton of money to someone who turns out to be a bad risk. Think about it. Sounds like something came up that made the bank think twice. The timing stinks, but this is something that can happen.

Are you looking to make it to NBC with your one story, or have you found a pattern of this behavior?
Posted by FlShopper on 2012-03-16:
Why was the ethnicity of the potential buyers mentioned in the OP? Do you think this may have had something to do with the loan falling through?
Posted by Anonymous on 2012-03-16:
FlShopper> I asked the exact same question, almost verbatim, on another review about a young girl being treated rudely at her first job interview. And the comment was subsequently hidden from public view. I can see it, but I don't think others can. You can always tell by the scrunched lettering and type format.

I meant nothing disrespectful by it, as I'm sure you didn't either. I was only curious what it had to do with the review, unless they may have felt that it played a part in the incident.

*scraping the eggshells from my feet*
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Small businesses should leave Chase bank
Posted by Babylon101 on 07/06/2011
COVINA, CALIFORNIA -- This is to show everyone how Morgan Stanly Chase Bank cares and helps small businesses. You have seen their advertisements on how they love small business and how they help small businesses. Helping small businesses my A@#$% . My story will shed some light on this matter. I own a small manufacturing company manufacturing writing instruments and personal care products in southern California. We used to have over 25 employees but are down to 11 mainly due to the imported product from China. Several times, I was approached by Chinese businessmen wanting to move my production to China and get a lower price, but I wanted our products to be molded and manufactured in our factory in the good old USA. Though I knew it was financially not a smart decision.

I have lost money in the past two years but things are beginning to look better but I am still not making money, so I decided to sell my industrial building we occupy. I have about $600,000 equity in it and Chase is the mortgage holder. So I asked Chase to let me slide and not make the monthly payment for a few months until the building is sold. Then you will get your money plus interest, and this would really help my company a lot. After submitting tons of paperwork including my next years projected sales and profits!!! , a Ms. Kathy called and informed me that Chase would not go along with my need and that they would have to foreclose. I said you will get your money for sure plus interest, I just lowered my building to $1.3 million (down from $1.9 million 4 years ago), my mortgage is around $760,000; you will get your money first, so there is no risk for you. You are guaranteed to get your money, guaranteed. So what is your problem? I am one of those small businesses that you say you love to help. Her answer was for me not to pay other bills and to pay Chase instead, otherwise they will foreclose.

I was so revolted by her mannerism that I hung up on her. This woman had no feelings about small business, 11 employees losing their jobs, 11 additional manufacturing jobs lost. She did not give a damn. She wanted her $5000 per month.

Ladies and gentlemen, this is JP MORGAN CHASE, a bank that loves to help small businesses succeed, the one that we, tax payers, bailed out; and this is how they return the favor. SHAME ON YOU. I WILL SPEND 100’s of hours pasting this on web sites. It will not have any effect on a giant like you, so you will not give a damn, but it will make me feel better.

Robert
     
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Posted by Venice09 on 2011-07-06:
The building has been on the market for four years? I feel for your predicament, but I'm not sure you can guarantee anything at this point.
Posted by hi on 2011-07-07:
Venice ia right........the building hasnt sold for 4 years and by your own post your business is failing. Chase is there to make money, not 'go down with the ship' so to say.
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