Consumer complaint received 2021-02-18
Company: JPMORGAN CHASE & CO.
State: TX
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Problem with a credit reporting company's investigation into an existing problem
Sub-issue: Problem with personal statement of dispute

Complaint:
In XX/XX/2015 Chase Mortgage services incorrectly reported a pay-off due to refinancing with another lender as 30 days late. Chase Mortgage Loan XXXX final payment from my new lender arrived at the Chase Mortgage office on XX/XX/XXXX but another Chase financial office did not record the full-loan pay-off until XX/XX/XXXX. I had closed on the new loan several weeks prior and no longer had control over the final payment from my new lender XXXX XXXX. I did call Chase to ask if I should pay the XX/XX/2015 mortgage bill to avoid a late fee but was told by them to NOT do so as the extra paperwork to refund the amount from the pay-off was difficult for them. 

After 5 plus years of taking this automatic 50 point hit on my credit rating ( does not clear until 7 years ). I called Chase to inquire about a courtesy amendment to the late payment report. After quite a lot of transfers and insistence my case XXXX was assigned to what Chase said was an " Executive Corporate Office. '' I later understood this office was not an honest resolution office, it is merely a front to comply with FCRA requirements. 

I explained my case and how I was a excellent on time payer as evidenced by my credit report and other Chase accounts I have with them. They did their normal let me wait while they " investigate '' days and eventually denied my request and stated they did not do Courtesy Credit Amendments even for excellent customers and the the Fair Credit Reporting Act 15 U.S.C. 1681 did not allow them to do so ( this is a lie ). Chase would not and could not tell me when the mortgage pay-off arrived in their office, only that they processed it on XX/XX/XXXX one day late of the 30-day window, but two according to their use of XX/XX/XXXX as an artificial deadline even though the statement uses the 1st as the due date ( subtractive rounding down of their math ). 

Chase even states on their response to me ( all attached ) that they used the XXXX of the month as their late reporting date ( which is only 28 business days ). I suppose this helps their statistics in hurting peoples credit. Again, the payment should have been at Chase on XX/XX/XXXX, they apparently ignore postmarks and incoming mail. 

Chase is a credit predator, they know that they did not process the loan pay-off in a timely manner and understood the complexity and timing of pay-off due to refinancing can cause delays, yet their system is set-up to hurt individuals. I also had another issue with Chase where they made two credit inquires against me in 3 days for the same card application. These reports stayed on my account for 2 years. This financial institution is a predator and I would be happy to testify about my experience with them if requested. 

As a good customer and a excellent payer of my long 40 year history of business I find Chase 's business approach harmful and unnecessary. The seem to take every opportunity to submit damaging information in order to justify high interest charges towards their customers.

Company response to consumer: Closed with explanation