Consumer complaint received 2017-08-12
Company: JPMORGAN CHASE & CO.
State: CA
Product: Vehicle loan or lease
Sub-product: Loan
Issue: Managing the loan or lease
Sub-issue: Billing problem

Complaint:
On XX/XX/XXXX i traded my vehicle in at XXXX XXXX XXXX in XXXX Or. XXXX financed the loan through Chase Bank. i informed all parties I intended to add money to the loan when I returned for to reduce the payments. Upon my return to my California home on XX/XX/XXXX I went to the Chase Bank branch in XXXX XXXX and explained to representative XXXX what I wanted to accomplish with a deposit of an additional XXXX to my loan. We contacted the bank loan department where I received instructions that I complied with over the next 2 days. I was informed via telephone call that the loan was approved and I was advised to just deposit my XXXX against the loan. After finding out that was beyond my ability at home, I returned to the Chase branch, spoke again to XXXX, again we called Chase and after some discussion, XXXX was able to take the XXXX as we were directed to do, At this time on the phone with Chase I was advised that my payment would be aprox. 250.00 a month and I could start in XX/XX/XXXX if I wanted or wait for the 'letter ' and begin in XX/XX/XXXX. this was the extent of my conversation with Chase until i called Chase on XX/XX/XXXX to find out when my payment was due and where was the letter? I would have called sooner but I had a XXXX XX/XX/XXXX. On XX/XX/XXXX I was told by 'XXXX ' that the loan had been denied because their letter had not been acknowledged. I informed them i had never received the letter and through investigation with XXXX discovered that the letter had been sent to my physical address instead of my PO box as they had been instructed to use. Once this was discovered I insisted the penalties they were adding to my account were unacceptable as this was the Banks error. I was told by XXXX that they would be able to reverse those charges but that they needed me NOW to make one payment on the previous loan payment of {$560.00}, ( the singular motivation for my refinancing the loan amount ). I grudgingly agreed to reduce the XXXX deposit to XXXX and fund the single payment. On XX/XX/XXXX XXXX called me back to confirm what was done and then he transferred me to 'XXXX ' who then tells me that because they cant get the loan into the system by XX/XX/XXXX that Ill need to make another {$560.00} payment. I clearly objected to this as its been the banks errors that have facilitated this happening at all. Ive been a Chase customer for 20+ years, They have my correct addresses and telephone numbers in multiple file locations. I have watched the goal line move a few times with this and its all because Chase made mistakes. I accepted terms and complied with requirements in XX/XX/XXXX. I want all penalties removed, all negative reporting expunged and while I accept the reduction on the XXXX deposit for one installment I reject it beyond that point. Chase made an offer and I accepted that offer, I want Chase to comply with the terms as agreed. As a result I made a payment yesterday at the advertised reduced payment amount. I want the electronic file revised to reflect this as well.

Company response to consumer: Closed with explanation