Consumer complaint received 2021-04-17
Company: JPMORGAN CHASE & CO.
State: FL
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Problems at the end of the loan or lease
Sub-issue: Problem with paying off the loan

Complaint:
Chase bank is the account holder for XXXX XXXX that used to be my loan service provider. Because of the action of Chase Bank my loan service provider XXXX XXXX ( which is in Fact XXXX XXXX XXXX division ) failed to close my loan and because of that my credit score, my health and my livelihood got ruined. 
Short timeline : XX/XX/XXXX I purchased a vehicle from XXXX XXXX XXXX financed through XXXX XXXX ( XXXX XXXX Consumer Loans ). I refinanced said loan through XXXX XXXX XXXX on XX/XX/XXXX. 
XX/XX/XXXX Check was mishandled by Chase Bank that handles the deposit account for XXXX XXXX ( XXXX XXXX Consumer Loans ). One month goes by and Chase bank clears the check without crediting it to XXXX XXXX ( XXXX XXXX ). 
XX/XX/XXXX Chase Bank charges XXXX XXXX XXXX the full amount of the check without depositing it to XXXX XXXX. Thus Chase Bank is potentially guilty of embezzlement of funds in excess of {$56000.00}, negligent handling of checks and financial fraud in excess of {$56000.00}. 
XXXX XXXX XXXX, victim of financial fraud perpetrated by Chase Bank is trying to resolve the matter with XXXX XXXX ( XXXX XXXX for XXXX XXXX consumer division ) with the help of XXXX XXXX XXXX XXXX XXXX XXXX did not receive the funds from Chase Bank and is stalling to the best of their ability until they asked for XXXX XXXX XXXX to reverse the transaction and send another check. 
On or around XX/XX/XXXX XXXX XXXX XXXX is asking for a refund on check # XXXX sent to XXXX XXXX ( XXXX XXXX XXXX for XXXX XXXX ) for the amount of {$56000.00} ( attached ). They get a letter from Chase stating that funds are on the way. 
XX/XX/XXXX As instructed by XXXX XXXX ( DBA XXXX XXXX XXXX XXXX XXXX XXXX makes a stop payment on Check # XXXX and issues check # XXXX and sends it to XXXX XXXX to pay off my loan # XXXX. 
On XX/XX/XXXX XXXX XXXX deposits the check and closes my loan. At this point Chase bank still has the funds for check # XXXX and would not release it to XXXX XXXX XXXX ( supposedly committing financial fraud ). 
On or about XX/XX/XXXX XXXX XXXX ( DBA for XXXX XXXX ) closes loan # XXXX, removes themselves from the lien of the vehicle, reconciles the loan and disburses XXXX XXXX {$1400.00} in funds owed above the amount received. At this point the loan is closed and done with. 
On XX/XX/XXXX Achieva not receiving the funds from Chase after more than 2 months marked check # XXXX for amount {$56000.00} as a duplicate, since Chase is holding at this time funds from both checks # XXXX and # XXXX. 
On or about XX/XX/XXXX Chase bank that is the main servicer for XXXX XXXX checking account for loan deposits tells XXXX XXXX that the check # XXXX from XXXX XXXX XXXX is bounced, which is financial fraud, since Chase bank now holds funds for both checks. XXXX XXXX reopens the loan # XXXX on false pretenses and assumptions provided by Chase Bank and tries to commit extorsion and blackmail, financial fraud in excess of {$56000.00} towards XXXX XXXX. 

To sum it up. 
1. Chase Bank is now in possession of funds that belong to XXXX XXXX XXXX and XXXX XXXX ( which is really XXXX XXXX ). 
2. XXXX XXXX did not get credited with the funds and is trying to extort XXXX XXXX for the full amount of the loan and initialed repossession proceedings even though they have full knowledge that XXXX XXXX is not at fault and that the fault lies with their banking provider who is Chase Bank. A quick internet search yields results in the hundreds of similar incidents, which is basically a class action waiting to happen. 
3. XXXX XXXX XXXX sent 2 checks to XXXX XXXX that are now with Chase bank and can not recover their funds. XXXX XXXX XXXX is a small financial institution that does not have a legal department and can not do anything against such behemoths as Chase Bank and XXXX XXXX ( XXXX XXXX with multiple lawsuits for money laundering etc.etc. ) 4. XXXX XXXX, an individual, spent hundreds of hours to research the issue, spent over 40 hrs on the phone with XXXX XXXX and XXXX XXXX XXXX is reported to the credit bureaus for default on an autoloan that he is dillegently paying to XXXX XXXX XXXX that is the main lienor for the vehicle. XXXX XXXX livelihood was majorly impacted by the described events, his mental and physical health deteriorated due to constant harassments from XXXX XXXX, he lost his opportunity to seek plumbing and 4-10 FL title insurance licensure due to the fact that his credit score dropped over 150 points and he lost access to the credit due to his credit score deteriorating.

Company response to consumer: Closed with explanation