Consumer complaint received 2024-04-29
Product: Vehicle loan or lease — Loan
Issue: Managing the loan or lease — Billing problem
Company: JPMORGAN CHASE & CO. (FL)

I sent a letter to the Credit Bureau Disputes Chase Auto XXXX XXXX XXXX XXXX XXXX XXXX date XX/XX/XXXX regarding a billing error for the statement dated XX/XX/XXXX. I stated in the letter that the monthly statement reflected a credit of {$850.00} of which I sent instructions for the credit to be sent to me via electronic funds transfer to my financial institution per 15 USC 1666 ( d ) & 12 CFR 1026.21 Treatment of credit balances. Per the US Treasury, this security should be credited to my account. 

I also requested that no transaction history, balances and/or credit amounts be reported to the credit agencies as this is a violation of my privacy per 12 CFR Part 1016 - Privacy of Consumer Financial Information ( Regulation P ) & 15 U.S. Code 6802 - Obligations with respect to disclosures of personal information. I requested the account be updated as " paid as agreed '' as the credit bureaus are listed as non-affiliated third parties per their own terms and conditions and I've never received any opt out options per CFR 1016.7 Form of opt out notice to consumers ; opt out methods. 

I was told as of XX/XX/XXXX, JP Morgan Chase no longer is a lien holder of this security which makes any attempts for collection unlawful. My current statement dated XX/XX/XXXX reflects a credit of {$1800.00} which is a credit of more than {$1.00}. 
CFR 1026.11 Treatment of credit balances ; account termination states : ( a ) Credit balances. When a credit balance in excess of {$1.00} is created on a credit account ( through transmittal of funds to a creditor in excess of the total balance due on an account, through rebates of unearned finance charges or insurance premiums, or through amounts otherwise owed to or held for the benefit of the consumer ), the creditor shall : ( 1 ) Credit the amount of the credit balance to the consumer 's account ; ( 2 ) Refund any part of the remaining credit balance within seven business days from receipt of a written request from the consumer ; ( 3 ) Make a good faith effort to refund to the consumer by cash, check, or money order, or credit to a deposit account of the consumer, any part of the credit balance remaining in the account for more than six months. No further action is required if the consumer 's current location is not known to the creditor and can not be traced through the consumer 's last known address or telephone number. 

Since my initial letter from XXXX of XXXX was never acknowledged per12 CFR 1026.13 - Billing error resolution ( d ) Rules pending resolution there should be no adverse actions from the creditor until there is a resolution. Until a billing error is resolved under paragraph ( e ) or ( f ) of this section, the following law should apply : ( 1 ) Consumer 's right to withhold disputed amount ; collection action prohibited. The consumer need not pay ( and the creditor may not try to collect ) any portion of any required payment that the consumer believes is related to the disputed amount ( including related finance or other charges ). 

( XXXX ) Adverse credit reports prohibited. The creditor or its agent shall not ( directly or indirectly ) make or threaten to make an adverse report to any person about the consumer 's credit standing, or report that an amount or account is delinquent, because the consumer failed to pay the disputed amount or related finance or other charges. 

JP Morgan Chase has reported negative actions on my credit report despite admitting to me on a recorded line that they are no longer the lien holder. Per my FL UCC filing : XXXX XXXX XXXX XXXX UCC Number : XXXX, I have the only lien on file for said property so I am confused as to why JP Chase Morgan is reporting negatively to the credit bureaus.