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Looking for advice on issue with Chase Auto


FriscoBob
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Hi All,

I recently paid off an auto loan with Chase Auto Finance. I just discovered that on my credit reports (from all 3 bureaus) the loan is showing "Paid 60 days late". Turns out that after I made what I thought was my last payment, there was a $31.33 balance on the account. Chase had an incorrect address on file so I never received notice of the balance. They eventually waived the $31.33 and I was none the wiser.

Here's my problem. Chase "researched" the issue and determined that there was a late payment on the account. They are telling me that they are legally required to report it as late to the bureaus. They suggest I dispute with the bureaus directly (already done this once), which won't work because Chase will just confirm the late payment again.

Any suggestions on how to address this? It kills me that I paid off a $28,500 car loan with no late payments and I'm getting dinged over a stupid $31 that I never knew about! Any advice would be greatly appreciated.

Bob

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  • 2 weeks later...
Hi All,

I recently paid off an auto loan with Chase Auto Finance. I just discovered that on my credit reports (from all 3 bureaus) the loan is showing "Paid 60 days late". Turns out that after I made what I thought was my last payment, there was a $31.33 balance on the account. Chase had an incorrect address on file so I never received notice of the balance. They eventually waived the $31.33 and I was none the wiser.

Here's my problem. Chase "researched" the issue and determined that there was a late payment on the account. They are telling me that they are legally required to report it as late to the bureaus. They suggest I dispute with the bureaus directly (already done this once), which won't work because Chase will just confirm the late payment again.

Any suggestions on how to address this? It kills me that I paid off a $28,500 car loan with no late payments and I'm getting dinged over a stupid $31 that I never knew about! Any advice would be greatly appreciated.

Bob

This is wrong. to justify reporting it late, they must notify you. waiving the balance implies responsibility on their part.

file a complaint with the OCC and/or CFPB. Send chase a copy of the complaint. explain that chase credited the so called late amount and has refused to provide proof that they sent you a bill for it.

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