Sign in to follow this  
Determined1

Chase Made Errors in Nine Percent of Credit-Card Collection Lawsuits, Internal Survey Finds

Recommended Posts

Hi,

 

Last year, American Banker ran a story about improper tactics being used by Chase in their credit card collection division, including "robo signing" Affidavits and filing invalid or unsubstantiated lawsuits. Please see:

 

http://www.americanbanker.com/issues/177_49/chase-credit-cards-collections-occ-probe-linda-almonte-1047437-1.html?zkPrintable=1&nopagination=1

 

Last month, the Wall Street Journal and Rolling Stone ran updated stories that confirm that the Office of the Comptroller of the Currency is investigating Chase on this issue. Please see:

 

http://www.rollingstone.com/politics/blogs/taibblog/chase-made-errors-in-nine-percent-of-credit-card-collection-lawsuits-internal-survey-finds-20130711

 

I called Chase last week to discuss a long since closed disputed credit card account with their bank. I can say that each Chase representative I spoke with was quite on edge about any collection activity, and repeatedly and in a rather worried fashion asked if I've received any calls from collection agencies. They then went on to promise, without my requesting it, that my disputed account (now 4 years old) would not be sold to a collection agency, and no lawsuit would be filed. The tenor of the conversation was that of a group of people seriously on the defensive. Their defensiveness was not a result of anything I've done since I've sent no recent correspondence to Chase, nor contacted them by phone for several years over this matter until just last week.

 

If you have a credit card dispute, lawsuit, or collection matter with Chase, it's a great time to re-assess your situation. I think Chase is about to be on the receiving end (with other banks?) of government intervention for their misconduct.

  • Like 4

Share this post


Link to post
Share on other sites

that is probably why one member here got a letter from them stating that the debt was incorrect, and he does not owe it.  They sold it, and the buyer was suing him, he had that letter, and the case was dismissed.  They must be part of that group that has now quit selling bad debt until it all gets straightened out.

Share this post


Link to post
Share on other sites
Guest
This topic is now closed to further replies.
Sign in to follow this