Consumer complaint received 2016-01-17
Company: JPMORGAN CHASE & CO.
State: NY
Product: Credit card
Issue: APR or interest rate

Complaint:
CASE NUMBER XXXX1. I filed a complaint on XXXX XXXX, XXXX against JP Morgan Chase Bank and their Assignees XXXX. The complaint related to fraudulent practices of advancing loans on credit cards by JP Morgan Chase Bank to which I was a victim. ( a ) XXXX the key complaint against JP Morgan Chase Bank was the charging of interest at the usurious rate of 30 % which recovery was continued by their Assignees XXXX as set out herein below. ( b ) JP Morgan Chase Bank has also expressed their inability to provide card member agreement or marketing materials at the time, the card was issued, which would have enlighten the agreement relating to the rate of interest, which went on gradually increasing at 30 % per annum, which was unconscionable, illegal, and against the creditor/debtor law. I have attached the statements which show the increase in the rate of interest. Their inability to furnish card member agreement or marketing materials, will prove that the bank is trying to suppress information and their guilt. ( c ) There is no reason as to why they can not provide information related to credit observer. The fact that the credit observer services have been offered by the third party, is no ground to evade the information .2.The reasons for declining the fraud claim are hollow and redundant for the reasons set out herein below : ( a ) I am a XXXX and I do not understand the meaning of some financial expressions, like credit observer. However it was incumbent upon the bank to explain these charges and the purpose of these services, which the bank has not done. ( b ) The claim filed against the claim protector was correct and I was unemployed during the relevant time the chase payment protector was in force on my credit card. The declination of my claim was wrongful and unjustified for which the bank will be liable to reimburse me. The bank is called upon to produce the copy of the claim filed by me and decision to decline the claim. ( c ) it is incorrect to suggest that the unemployment occurred prior to XXXX XXXX, XXXX that is prior to the enrollment of benefits.3. The account was then assigned to XXXX XXXX without notice to me who have failed and neglected to respond to my complaint because they have no answer to my complaint, and therefore the facts and allegations contained from Paragraphs XXXX to XXXX of my complaint are admitted by them. Their Attorneys XXXX having their offices at XXXX XXXX XXXX, XXXX. XXXX XXXX, XXXX NY XXXX ( XXXX ) who are also deemed to be " Debt Collectors '' have also not responded to the complaint and are also deemed to have admitted the allegations contained in my complaint. The charges leveled against the Assignees XXXX XXXX and their attorneys are serious enough, to warrant immediate action. Some of their fraudulent conducts have been highlighted in the following paragraphs of the Complaint a.Paragraph XXXX and XXXX of the complaint alleges service of the Summons upon a non-existing " Fictitious person ''. b. Paragraph XXXX and XXXX alleges that a default Judgment was passed behind my back on XXXX XXXX, XXXX for {$35000.00} without any evidence of proof of claim or their entitlement to sue me for want of copy of assignment. c. Allegations against their Assignees and their attorneys for charging compound interest which is illegal increasing the claim in execution by charging interest at 30 % p.a.. d. Payments made by me were illegally appropriated towards interest which was being charged at 30.5 % compound rate although the judgment provides for 9 %. No satisfaction of the judgment has ever been recorded. XXXX. Under the circumstances, in view of their default in answering the complaint, the statements and allegations made by me are admitted by them. I request you to take action as per paragraph XXXX of my complaint, by cancelling their license.

Company response to consumer: Closed with explanation