Consumer complaint received 2025-03-04 00:00:00
Product: Vehicle loan or lease — Lease
Issue: Repossession — Account reinstatement or redemption after repossession
Company: JPMORGAN CHASE & CO.
State: MA

Complaint narrative:
Chase Auto Finance Engaged in Unfair, Deceptive, and Abusive Practices, Resulting in a Wrongful Repossession and Incorrect Credit Reporting Chase Auto Finance engaged in unfair, deceptive, and abusive acts ( UDAAP ) by misleading me about my ability to resolve my lease delinquency, refusing to allow me to pay off my remaining balance, and failing to provide accurate financial disclosures before repossessing my vehicle. Chase is also incorrectly reporting a past-due balance of {$2200.00} on my credit report, further damaging my financial standing. These wrongful actions have placed my employment as a licensed mortgage loan officer at risk.

1. Chase denied my right to cure my delinquency and refused my full lease balance payment. 

I offered to pay the full past-due balance and all remaining lease payments through my lease maturity date ( XX/XX/XXXX ). 
Chase denied my request and demanded a full payoff of {$41000.00}, which is not contractually required under my lease agreement. 
Chases refusal to accept my payment led directly to repossession, causing me severe financial and employment consequences. 
This was an unfair and abusive lending practice that blocked my ability to resolve my account in good faith.

2. Chase repossessed my vehicle just three days after sending me a bill, misleading me about my ability to make a payment. 

On XX/XX/XXXX, Chase sent me a bill stating that my past-due balance was {$2700.00}. 
I received the bill in the mail on XX/XX/XXXX. 
Just three days later, on XX/XX/XXXX, Chase repossessed my vehiclewithout giving me time to respond to the bill or make a payment. 
The bill did not state that repossession was imminent or that my only option was full payoff. 
Chase misled me into believing I had time to resolve my balance, then repossessed my car before I had a chance to act. 

XXXX. Chase failed to provide an Early Termination Breakdown until three months after repossession and omitted key financial details. 

Chase repossessed my car on XX/XX/XXXX, but did not send an Early Termination Breakdown until XX/XX/XXXX, XXXX XXXX months later. 
This document did NOT include the XXXX XXXX XXXX, which is a required calculation under Section XXXX of my lease agreement. 
Without this information, I have no way to verify whether Chase correctly calculated my final balance or if they overcharged me. 
Chase withheld key financial information, creating an unfair and deceptive financial obligation. 

XXXX. Chase wrongfully accelerated my lease balance instead of following the proper early termination formula. 

Section XXXX of my lease states that early termination should be calculated as : XXXX XXXX XXXX minus XXXX XXXX XXXX plus unpaid amounts. 
Chase ignored this calculation and instead demanded a full payoff of {$41000.00}. 
Chase misrepresented my financial obligations, inflating my balance and forcing unnecessary financial harm. 

XXXX. Chase is incorrectly reporting a past-due balance of {$2200.00} on my credit report. 

My credit report shows a past-due balance of {$2200.00}, which is incorrect. 
If Chase charged off the lease and repossessed the vehicle, I should not have an outstanding past-due balance reporting. 
This inaccurate reporting is further harming my XXXX XXXX and putting my employment at risk. 
Chase must remove this past-due balance because it is either duplicative or incorrectly reported. 

XXXX. Chase denied my dispute with XXXX twice, despite providing evidence of unfair and misleading reporting. 

I disputed the repossession, charge-off, and past-due balance with XXXX twice, and Chase refused to correct XXXX reporting both times. 
Chase continues to report inaccurate and misleading financial information that does not match my lease agreement or actual payment history. 
This refusal to correct the reporting, despite clear evidence of their unfair and deceptive practices, further proves that Chase is knowingly harming my credit. 
As a licensed mortgage loan XXXX, I am at risk of losing my job due to this wrongful reporting. 

XXXX. Chases wrongful actions have severely impacted my credit and put my job at risk. 

Chase has wrongfully reported a repossession, charge-off, and incorrect past-due balance on my credit report. 
As a licensed mortgage loan XXXX, I am at risk of losing my job because of this negative credit reporting. 
Chases failure to provide a fair resolution and their refusal to accept my payment offer have created severe financial distress and professional consequences for me. 

Requested Actions : I am requesting that CFPB take immediate action to investigate and resolve this matter, as my employment is at risk due to Chases wrongful reporting. 
XXXX Chase to remove the repossession, charge-off, and incorrect past-due balance ( {$2200.00} ) from my credit report. 
Require Chase to provide a complete and accurate Early Termination Breakdown, including the Adjusted Lease Balance, to verify the correct amount owed. 
Investigate XXXX XXXX violations for refusing my payment, misleading me about my ability to resolve my account, and failing to provide financial transparency before repossession. 
If CFPB determines that Chase misrepresented my financial obligations or unfairly accelerated my lease balance, I request that CFPB take regulatory action against Chase Auto Finance for deceptive and abusive lending practices.

Company response to consumer: Closed with explanation