Consumer complaint received 2022-01-28
Company: JPMORGAN CHASE & CO.
State: PA
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Account status incorrect

Complaint:
Upon receiving an email notification via XXXX XXXX in XXXX that there had been a change to my account and that my credit had went down, I proceeded to the app to see what was going on. Based on my findings, on XX/XX/XXXX my credit score dropped by 140 points from a XXXX to a XXXX for one credit bureau and also XXXX points from a XXXX to a XXXX for another credit bureau due to a JPMCB Auto balance that increased by {$710.00}. JPMCB is the creditor that I have my vehicle lease agreement with. The terms of my lease were set to end on XX/XX/2021. However, I decided to extend my XXXX lease agreement to a month to month lease for up to 6 months with the same payment and fee terms, which I called and agreed to over the phone prior to the lease term ending. With this said, I called JPMCB to inquire about what was going with the increased balance that I identified on XXXX XXXX and they proceeded to tell me that i was 30 days delinquent on a payment, which I proceeded to challenge since I had never been delinquent before and my account was set to auto payment and came directly out of my bank account without the need for me to do anything ; this had been the same process for the entirety of my lease up to this point. The individual responded by telling me that I was supposed to go onto the JPMCB site to confirm that my payment details were still the same, which to that point I had been unaware of. I proceeded to ask the company if they could forgive this lateness due to the fact that it was an unintentional oversight but they were unwilling to do so because they noted that the person that I entered into the extension agreement with would have mentioned to me that I needed to confirm my payments. While still on the call with JPMCB, I proceeded to pay the XXXX payment that was considered late and also the XXXX payment, which at that point was still current. As soon as the call with the creditor ended, I immediately went onto the JPMCB site and proceeded to confirm my payment information, which was quite a simple task that I would have definitely completed had it been clear that this is what was needed upon entering into the agreement. I checked my physical mail, as well as, email to see if I had received anything that stated that I needed to go in and do anything related to needing to update payment information, anything about my new agreement, or anything else that would have helped me identify the need to continue my automatic payment setup and I could find nothing. The only two emails that I could find between the initial payment due date and the time in which I paid did not include info on my new agreement and any action items that I needed to address as a result of the new agreement. Prior to this misunderstanding, every single payment throughout the entirety of my relationship with JPMCB so this clearly an unintentional oversight. After I disputed the only credit reporting agency to update my report has been XXXX.

Company response to consumer: Closed with explanation