Consumer complaint received 2018-07-27
Company: JPMORGAN CHASE & CO.
State: MD
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:
I am disputing the " charged off '' that Chase has reported to my credit report. 
( Please see attached credit report. ) I scheduled a payment by phone for the next to the last payment on my car loan. The check was dated for XX/XX/XXXX. On or around XX/XX/XXXX, I called Chase to follow-up and they asked me to call the following week if it had not cleared. The check was presented on and deducted from my account on XX/XX/XXXX. ( Please see attached bank statement. ) Therefore, I did not call Chase because the check for {$240.00} had cleared. However, upon checking my checking account on XX/XX/XXXX, I found that XXXX XXXX reversed the payment I made to Chase and when I called Chase to inquire, they said they had not received any information on the reversal. I called XXXX XXXX and they indicated that a reversal was made due to a XXXX XXXX XXXX error. On XX/XX/XXXX, XXXX XXXX issued a Notice of Processing Error letter whereby XXXX XXXX recognizes the error, and is apologizing to JP Morgan Chase for their processing error and, furthermore, states, " The return of this check should in no way reflect upon this customer 's financial integrity. We apologize for any inconvenience this may have caused. 
On behalf of our customer Please reverse any fees that may have been charged. We appreciate your cooperation. '' ( Please see attached XXXX XXXX letter. ) On XX/XX/XXXX, I called Chase and spoke with XXXX, ID No. XXXX, a Chase Representative, who provided instructions on where to send the payoff payment, which included the payment issued in XX/XX/XXXX of {$240.00}. This amount had to be paid in XX/XX/XXXX so that the loan would not charge-off. XXXX took all the information I gave her regarding the XXXX XXXX error and said she would pass it on to another department and I would have to follow up later. I followed up in XX/XX/XXXX and XX/XX/XXXX but did not get any information as to whether the " charge off '' would be removed from my credit report. On that same day, as promised to XXXX, I wired {$1700.00} as a payoff for the loan. 
I am disputing the charge off since I made the monthly payment of XXXX scheduled for XX/XX/XXXX as promised. I did everything I had to do on my part to make sure that my payment was made so it would not charge off. 
I made the payment in good faith and it was presented and, according to my bank statement ( see attached ) it was paid from my account on XX/XX/XXXX. XXXX XXXX explained, due to a processing error, the payment was reversed. 
I received a letter from Chase, dated XX/XX/XXXX asking me for payment. I received a letter from Chase dated XX/XX/XXXX that my loan was paid in full. I followed up asking about the " charge off '' but no one in the Credit Dispute Department could provide information as to credit reporting status. Another letter dated XX/XX/XXXX arrived informing that " your account reported correctly and does not need corrections. '' I also called several times after that but was left holding on or I was not given an accurate response regarding the charge off and my credit report. Recently, upon checking my credit report, I found that the charge off is being reported on my credit report. 
I am requesting that CFPB intercede on my behalf as I feel that JP Morgan Chase is recklessly ruining my credit, indicating a " charge off '', which does not reflect any fault on my part, but that of XXXX XXXX XXXX, who admitted to and issued a letter for a Processing Error, and moreover, states that this error should in no way reflect upon my financial integrity. ( See XXXX XXXX letter. )

Company response to consumer: Closed with non-monetary relief