Consumer complaint received 2024-11-16 00:00:00
Product: Debt collection — Credit card debt
Issue: Attempts to collect debt not owed — Debt was paid
Company: JPMORGAN CHASE & CO.
State: FL

Complaint narrative:
I am filing this complaint against Chase Bank due to their ongoing attempts to collect on a debt that has been charged off. Additionally, Chase Bank has closed the account, and I am now asserting my rights to claim all equity proceeds, insurance, and interest as the grantor, investor, and registered owner. The banks actions constitute violations of federal laws, including the Truth in Lending Act ( TILA ), Fair Credit Reporting Act ( FCRA ), and other applicable statutes under the XXXX. 

XXXX. Satisfaction of Consideration XXXX XXXX XXXX  XXXX ) In line with the precedent set by XXXX XXXX XXXX, the original promissory note provided as part of the transaction constitutes sufficient consideration. The note funded the account, satisfying any debt obligations at inception. Any attempt by Chase Bank to continue collection efforts is a misrepresentation of the debt 's status and violates my rights under 15 U.S.C. 1662. 

XXXX XXXX XXXX : Establishes that the promissory note satisfies consideration for the funding of the account. 
XXXX. Violation of Truth in Lending Act ( TILA ) - 15 U.S.C. 1662 Per 15 U.S.C. 1662, it is unlawful for creditors to make misleading representations regarding debt obligations. Chase Bank 's claim that I owe an outstanding balance post-charge-off is false, as the mutual exchange of value through the initial promissory note has already satisfied the debt obligation. 

15 U.S.C. 1662 : Prohibits false or misleading representations about the status of a debt when it has been satisfied through a mutual exchange of value. 
XXXX. Unfair, Deceptive, or XXXX Acts ( XXXX ) - 12 U.S.C. 5481 Chase Bank 's continued collection efforts on a charged-off account constitute an unfair, deceptive, or abusive act, violating 12 U.S.C. 5481. A charged-off debt has already been classified as a loss by the creditor, and further attempts to collect are both misleading and unlawful under federal consumer protection standards.

12 U.S.C. 5481 : Defines XXXX, which includes deceptive collection practices after a debt is charged off. 
XXXX. Violation of Privacy Rights and Data Sharing - 15 U.S.C. 6802 & 15 U.S.C. 6801 I formally opt out of any and all authorizations previously given, whether written, unwritten, verbal, or non-verbal, under 15 U.S.C. 6802. Chase Bank is prohibited from sharing my personal information, financial data, and transaction history without my explicit written consent. Furthermore, under 15 U.S.C. 6801, the bank has a duty to protect my non-public personal information and refrain from unauthorized disclosures.

15 U.S.C. 6801 : Requires financial institutions to protect customer information and prohibits unauthorized reporting of transaction history. 
XXXX. Assertion of Rights to Equity Proceeds, Insurance, and Interest As the grantor, investor, and registered owner of the account, I am asserting my rights to all equity proceeds, insurance payouts, and accrued interest associated with this account. Chase Bank acted as a trustee under the indenture agreement and has an obligation to transfer all proceeds derived from my original asset ( the promissory note ) to me as the beneficiary. Under XXXX XXXX, I am entitled to defend against unauthorized collection and assert claims on proceeds. 

XXXX XXXX  : Provides the right to assert claims and defenses as the holder in due course. 
XXXX U.S.C. 411 : Specifies that legal tender and obligations must be settled in lawful money, not by extending or collecting unauthorized debt claims. 
XXXX. Illegal Reporting of Transaction History Chase Bank has unlawfully continued to report the charged-off debt on my credit report, in violation of 15 U.S.C. 1681s-2. This action constitutes inaccurate reporting and damages my creditworthiness. Under the FCRA, it is illegal for a creditor to report false or misleading information regarding an accounts status after it has been settled or charged off. 

15 U.S.C. 1681s-2 : Prohibits the reporting of inaccurate information by furnishers of credit data.

Company response to consumer: Closed with explanation