Consumer complaint received 2025-01-14 00:00:00
Product: Credit reporting or other personal consumer reports — Credit reporting
Issue: Problem with a company's investigation into an existing problem — Difficulty submitting a dispute or getting information about a dispute over the phone
Company: JPMORGAN CHASE & CO.
State: NC

Complaint narrative:
XX/XX/XXXX : purchase XXXX XXXX XXXX from XXXX. Trade in XXXX XXXX XXXX financed thru Chase Bank. {$7800.00} in negative equity to be rolled over. Purchase pre-financed through XXXX. 
XX/XX/XXXX : XXXX authorized up to {$30000.00} for purchase based on my credit, payment history and XXXX. 
*According to XXXX XXXXXXXX XXXX XXXX XXXX, there is a XXXX day return policy. 
XX/XX/XXXX : Letter stamped with date of XX/XX/XXXX for payoff of XXXX XXXX received from Chase Bank. 
*As per written XXXX XXXX, the XXXX XXXX payoff to Chase Bank was sent too soon. 
XX/XX/XXXX : XXXX informed me that while eligible for funding, the value of the new vehicle was not enough to cover negative equity of the trade in. I immediately made contact with XXXX and offered to still purchase the XXXX XXXX XXXX without a trade in. However, I was instructed by XXXX to return the XXXX XXXX. 
XX/XX/XXXX : I received a letter from Chase Bank informing me that a request had been made to return the payoff funds received from XXXX. I was unaware that XXXX had paid the XXXX XXXX XXXX off prior to receiving the letter as the purchase of the XXXX XXXX XXXX had yet to be completed. As per the letter from Chase Bank. The XXXX XXXX XXXX was paid off and the account closed as of XX/XX/XXXX. 
XX/XX/XXXX : I was informed by XXXX that I could not return the XXXX XXXX XXXX until Chase Bank returned the funding for the XXXX XXXX XXXX. 
XX/XX/XXXX : I received an email from XXXX representative, XXXX Washington that Chase Bank was ready to return the funding to XXXX for the XXXX XXXX XXXX. 
XX/XX/XXXX : Chase Bank returned funding for XXXX XXXX XXXX to XXXX and I was allowed to take back ownership of the vehicle. 
XX/XX/XXXX : I received letter from Chase Bank via XXXX Overnight delivery stating that Chase Bank required back-pay from me for the time period that XXXX owned and possessed the XXXX XXXX XXXX XXXX The letter was stamped XX/XX/XXXX. 
XX/XX/XXXX : I received another letter from Chase Bank via XXXX Overnight delivery stating that Chase Bank required back-pay from me for the time period that XXXX owned and possessed the XXXX XXXX XXXX XXXX The letter was stamped XX/XX/XXXX. 
XX/XX/XXXX : I followed up with Chase Bank customer service via telephone as I still did not have online access to the account. I attempted to negotiate a payment plan for the back-pay but was informed that the loan had been charged off due to non payment and my credit score dropped over XXXX points. 
From XX/XX/XXXX thru XX/XX/XXXX, XXXX had physical possession of the XXXX XXXX XXXX as well as the title. How am I responsible for the funds during this period? If I am still legally responsible, how am I negligent and deserving of this negative hit against my credit? 
Chase Bank has since informed me that they will reverse the charge off if I submit all back-pay funds in a lump sum. However, they will not give me any type of written guarantee that they will take the necessary steps to correct this mistake.

Company response to consumer: Closed with monetary relief