Consumer complaint received 2020-02-05
Company: JPMORGAN CHASE & CO.
State: IL
Product: Credit reporting, credit repair services, or other personal consumer reports
Sub-product: Credit reporting
Issue: Incorrect information on your report
Sub-issue: Information belongs to someone else

Complaint:
In XX/XX/2013 my divorce was finalized and as part of the Marital Separation Agreement the ex-wife was required to refinance the marital property located at XXXX XXXX XXXX XXXX XXXX XXXX Il. XXXX. The court order clearly indicates that my name along with any financial responsibility be removed from both the first mortgage & equity credit line and will be the sole responsibility of XXXX XXXX XXXX. The quit claim deed was recorded with XXXX County with a copy provided along with the court order to Chase when the first mortgage was refinanced in the ex-wifes name. I am not sure why Chase never refinanced the credit line as part of that transaction when there was a legal responsibility and obligation to do so. What I also dont understand is it is considered to be normal industry practice that when a refinance is completed that all outstanding loans that are secured by the residence should be required in the terms of the refinance and it was clearly not. 

I have recently disputed the negative credit reporting done by Chase since the equity credit line is now in default since it appears I was never removed from this account with the refinance. The account is now in arrears and my credit score has been severely impacted negatively. I am somewhat troubled in the fact that I have never been contacted by any representative from Chase since the account went delinquent, never received any past due statements/notice or any other type of correspondence. The only notification I have received was the credit alert stating that my credit score dropped significantly from roughly 800 to 660 in XXXX. This lack of communication on a past due collection effort clearly is a direct violation of any type of fair credit reporting and could be considered a compliance violation as related to credit bureau reporting which I am exploring advice from legal counsel. 

On XX/XX/XXXX I visited my local Chase branch and spoke with XXXX XXXX, Officer I provided all supporting documentation indicating I am not responsible for the debt. To date, I have not received any additional feedback from Chase, the only responses I have received is from the credit reporting agencies stating Chase has denied my dispute as being accurate reporting. 

The other items I am disputing in my credit report that Chase is reporting are my actual property addresses. There are multiple address lines being reported for two locations listed in XXXX, Il which I have never lived in or been responsible for and are in-fact the addresses of the ex-wife and not mine. This also needs resolution. 

It is my hope for Chase to correct this situation without further legal expense or intervention by counsel. I would fully appreciate and expect Chase to retroactively reverse any negative credit bureau reporting to all agencies and immediately cease any reporting of this delinquent debt under my social security number. 

Along with filing this complaint with Chase I am also contacting and filing a complaint with the CFPB. 

I would appreciate further discussion and your time in correcting this negative reporting and oversight.

Company response to consumer: Closed with explanation