Consumer complaint received 2019-01-04
Company: JPMORGAN CHASE & CO.
State: FL
Product: Credit card or prepaid card
Sub-product: General-purpose credit card or charge card
Issue: Incorrect information on your report
Sub-issue: Account information incorrect

Complaint:
Chase Ink credit card for my small business that was opened in XX/XX/XXXX. Account fell behind on a monthly payment and Chase unilaterally suspended account and increased interest. As the authorized person on the business credit card account I reached an oral settlement agreement with Chase on XX/XX/XXXX, outlined in part in a letter sent from Chase to my office confirming outline of settlement agreement to my office. I made timely payments per the settlement agreement ; however, Chase did not update the account status and pay history as agreed to " settled '' for account status and current for pay histories for months of XX/XX/XXXX through XX/XX/XXXX. I only entered into the settlement agreement based on the understanding that Chase would perform these corrections for the credit reporting on the account so it would not negatively affect my business or personal credit opportunities going forward.

I attempted to correct these issues with Chase twice in XXXX and XX/XX/XXXX with no success. In anticipation of applying for home mortgage pre-qualification in XX/XX/XXXX, I again reached out to Chase requesting that it correct these incorrect derogatory credit reporting issues. Chase responded by updating the payment status to 90 days late, in breach of our settlement agreement and adversely lowering my credit score, and by updating the pay history to reflect Negative for the month of XX/XX/XXXX, as opposed to closed and current on payments as the account was per the settlement agreement and my performance of the same. 

I again reached out to Chase in XX/XX/XXXX by phone after an indication an application for a substantial business line of credit was preliminary denied specifically based on the incorrect credit reporting for this account that has still not been corrected by Chase. I I disputed the incorrect information through an online dispute process with XXXX, by phone, and have sent a certified letter and supporting documentation concerning why the reporting is incorrect and in violation of our prior settlement agreement. I have also requested account notes from Chase and have been informed I will not be given the account notes without enforceable legal process seeking such account notes.

Chase has confirmed we entered into a settlement agreement on XX/XX/XXXX, and I performed all my obligations per the agreement ; however, it persists that it can not report the account as paid as agreed from XX/XX/XXXX through XX/XX/XXXX and that even though its letter confirming the settlement agreement stated the account was closed in XXXX they continue to persist they can not report my account as paid as agreed for XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, XX/XX/XXXX, and XX/XX/XXXX. 

I have attempted every method to amicably resolve this erroneous credit reporting short of litigation and this is my last effort to resolve this matter without litigating Chase 's failure to perform its obligations per our settlement agreement.

Company response to consumer: Closed with explanation