Consumer complaint received 2016-07-13
Product: Credit card — 
Issue: Credit card protection / Debt protection — 
Company: JPMORGAN CHASE & CO. (UT)

Nearly 10 years ago, I opened a credit card with Chase. I did n't really use the card and it ended up getting stolen so I called Chase to alert them, paid the balance due and closed the card. I did n't think twice about it -- there was no indication that there were any issues ( no letters, phone calls or anything that would put me on notice that there was an issue ). In 2009, I received a call from a collections company saying that I had an outstanding debt with Chase. Since my only contact with them was the credit card ( and I had paid the balance and closed the card several years prior ), I wrote asking for more information on the debt. My concern was that given the circumstances the person who had stolen my card had used the card after I cancelled it. The collections agency told me that they did not have any information and gave me the contact information for Chase. Numerous phone calls and letters later, I stopped receiving calls and letters from collections agencies. I figured the issue was resolved. During the intervening time, I refinanced my home and bought a new XXXX. Because Chase had negatively reported on my credit, I had to pay higher rates. I had no idea how much their false negative reporting had impacted my credit until I received a letter in from Chase this year indicating that they had finally resolved the issue and I was correct -- sort of. According to the letter that they sent me this year ( seven years after my efforts to resolve the issue with them ) the thief had n't used my card -- Chase had charged the annual fee to the card even thought it had been cancelled. They then based all of the negative credit reporting off of that charge that I did n't know about and did n't make ( since I cancelled before it was assessed ). I did n't receive any notifications that there was a balance due until years later. It impacted the interest rates on both my mortgages, my car insurance and other things that are priced based on credit. I hired an attorney who sent a demand letter to them when I received the letter indicated that they had resolved the issue and that it was their mistake. I appreciate them finally getting back to me -- even though it took 7 years. However, they are still sending me letters indicating that I owe them money -- despite the fact that they sent me a letter indicating that I do not. I did not understand how much the false negative reporting had damaged my credit XXXX it went up approximately XXXX points taking me from a credit score in the low XXXX to a credit score in the XXXX ). Because Chase has been so difficult to work with in the past, I asked the attorney to help me to resolve the issue without litigation. He sent a demand letter about four months ago. Not surprisingly, they did not respond. He sent a second letter. They called and said that they would get back to him by the end of the week. They did not. I am a lawyer, so I know that litigation should only be used in extreme circumstances when people can not resolve issues. It is expensive and in the end, it often feels like nobody wins. However, I was damaged ( higher interest rate, higher car insurance rate, etc ) I 'd like for Chase to correct the problem by compensating me for those damages ( ie the interest rate that I would have gotten without their false negative credit reporting ). This is my last effort before I file a complaint with the court. Please respond.