Consumer complaint received 2022-05-16
Company: JPMORGAN CHASE & CO.
State: NC
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: Their investigation did not fix an error on your report

Complaint:
XX/XX/XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX, NC XXXX RE : JPMCB XXXX currently under dispute. 
Credit Card Acct # XXXX Chase XXXX XXXX Customer Service XXXX XXXX XXXX XXXX, DE XXXX Dear Customer Relations, Regarding Chances XXXX XXXX XXXX XXXX XXXX XXXX business credit card account with Chase XXXX XXXXXXXX , I was made aware of a negative impact reported on my personal credit report. I am the founder/president of XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX nonprofit established in XX/XX/XXXX. XXXX Chances XXXX XXXX suffered tremendous financial loss during Covid 19 crises in XXXX, XXXX, & XXXX. Our public fundraisers fueled the work we do, and the pandemic halted public events and our finances depleted tremendously. Up until Covid 19 hit the USA, we were thriving and financially sound organization. 

During the healthy crisis applied for a business credit card for through Chase XXXX XXXX Credit card to help us stay afloat and navigate during these trying times, We maintain a good payment history in the beginning, however trouble times has taken a toll on our finances and we fell behind one month in XX/XX/XXXX and once again XXXX of XXXX. The JPMCB card representing Chase XXXX XXXX has reported a negative impact due to 2 delinquent payments on my Personal Credit Bureau Report. As stated, XXXX XXXX XXXX XXXX XXXX XXXX XXXX went through tremendous financial hardship during the pandemic. Our monthly payments due were delinquent twice when our funds were depleted consequently the account was reported to the credit reporting agency on my personal credit report. On a side note, we had this business credit since XXXX and JPMCB nor Chase XXXX were never part of my personal credit report summary UNTIL they reported the delinquent payments. Because I was delinquent this account suddenly was added to my personal credit bureau report in XX/XX/XXXX dropping my credit reporting score of XXXX down to XXXX ( XXXX points ). I understand the account cardholder for a business credit card is held liable for unpaid debts through Chase XXXX XXXX, however in light of the economic disaster during the pandemic, I would hope they would have grace and not suddenly add a negative impact to my personal account. Again, JPMCB made a conscious deliberate effort to add this business credit account to my personal credit suddenly when the business was delinquent in on a payment on two occasions. This business credit card -account was never included previously on my credit report analysis for the first 2 years of holding a credit card acct since XXXX. 

If you look at my personal credit report, you will see I have an excellent payment history on all of my accounts and have never reported late on any of my debts. 

I became aware of the Covid 19 relief grants/loans in late XXXX the government was offering through the XXXX to help small business that suffered a great loss financially recover from the economic disaster I applied and was approved through for the Covid-19 relief grant and received the grant funds. In order to receive the funds, you must be able to provide documentation proof your business suffered at least a 30 % loss due to the pandemic by submitting your gross receipts for 3 years, ( XXXX, XXXX, and XXXX ) yearly reports. We provided documentation that XXXX XXXX XXXX XXXX XXXX XXXX XXXX suffered more 30 % but in fact 50 % loss from XXXX XXXX consequently, the XXXX awarded us {$10000.00} plus an additional {$5000.00} in relief funds totaling {$15000.00} that does not have to paid back. We also applied for and were approved for an XXXX Business Loan at a very low interest rate. 


XXXX XXXX XXXX XXXX XXXX is on the road to financial recovery. Restrictions were lifted and the public opened back up and we can continue to raise the funds through public fundraiser campaigns. We are an all-volunteer organization, and no one receives a paycheck for the work we do for the animals, We are committed to paying this debt in full in a timely manner and we look forward to maintaining our business relationship. With the government funds awarded we made a payment on XX/XX/XXXX to Chase XXXX XXXX in the amount of {$1000.00} and a week later we made another payment of {$500.00} totaling {$1500.00} in less than 2 weeks. We then set up monthly auto-pay ( {$250.00} ) moving forward. 

I would also like to add that I made several calls to Chase XXXX during the period we were not able to make payments seeking a financial hardship program that would allow us time to recover and was denied and told they did not have a financial hardship program at that time. 

Under the CARE act the government is to protect negative impacts reporting to personal and business credit reporting. I have attempted to speak with Chase XXXX regarding this matter numerous times and I was repeatedly told they had no financial hardship programs to offer my company. Oddly enough, my business account with XXXX XXXX credit card were more than happy to work with us when I reached out to them regarding financial hardship, and they immediately had a program I enrolled in to stay in good standings and at that same time is when Chase XXXX did not offer any programs or solutions to keep us in good standings with payments. 

I respectfully ask for consideration in removing this debt from my personal credit bureau and accept the account listed under the Tax ID # XXXX, XXXX XXXX XXXX XXXX XXXX XXXX XXXX, business account credit report.. Although JPMCB has reported the account is now current, the debt is gravely affecting my personal credit score because the {$6700.00} balance due has put me over the recommended 30 % of debt-to-income ratio on my personal credit analysis. I can accept the report listed on our business credit reporting under the TIN # XXXX however, adding it to my personal credit line of debt is lowered my overall credit score tremendously and although I am personally liable for the debt according to the credit card terms, the impact on my score is harsh. The debit was a result of this countrys economic disaster during a health crisis. As I previously stated, our business is an all-volunteer based nonprofit organization and no one receives compensations for their services, however the business has always been financial stable and pay our bills timely form XX/XX/XXXX until XX/XX/XXXX when the pandemic shut everything down. It is my hope you will consider my plea by removing the negative impact to my personal credit reporting agencies consequently reducing my debt-to-income ratio to less than 30 %, the recommended ratio to maintain a good score. XXXX XXXX XXXX XXXX XXXX is committed to paying the debt in full in a timely manner moving forward as we are thriving economically and look froward to continued business with Chase XXXX XXXX. 

Please feel free to call or email me with any questions or concerns. 

Sincerely, XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX NC XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX XXXX : XXXX website : XXXX

Company response to consumer: Closed with explanation