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Chase / JP Morgan Smacked My Credit Score Login/Join 
On the DL
Picture of V-Tail
posted
I noticed that my credit score dropped by sixty points (!) because the incompetent bastages at Chase ERRONEOUSLY reported late payment / nonpayment for my "scheduled" home mortgagae payment.

FACT: The week before the March 2018 payment was due, I paid the total outstanding balance on the mortgage. There were about three payments left, so I just paid the whole thing, to get it over with.

Chase evidently mis-handled my check and submitted a negative report to at least one, possibly all three, credit reporting services.

I owe nothing, repeat: NOTHING on my home mortgage. Actually, it appears that I overpaid by just a tiny bit, less than two dollars, and Chase should send me a refund check.

Incompetent bastages.



A mind is a terrible thing.
 
Posts: 17478 | Location: Central Florida (near Orlando) | Registered: January 03, 2010Reply With QuoteReport This Post
Member
Picture of sourdough44
posted Hide Post
I closed some accounts, lowered my credit limit on others. My credit score went down a fair bit. I realize other things are tied to it, don’t plan on any borrowing anyway.
 
Posts: 3297 | Location: WI | Registered: February 29, 2012Reply With QuoteReport This Post
Crusty old
curmudgeon
Picture of Jimbo54
posted Hide Post
quote:
Originally posted by sourdough44:
I closed some accounts, lowered my credit limit on others. My credit score went down a fair bit. I realize other things are tied to it, don’t plan on any borrowing anyway.


This happened to me as well. A few years ago my rating was in the low 800's, and now it's at around 760. After investigating I found out the reason was that I have no debt and pay off my credit cards and carry no balances. Geesh!!

Jim

Edit: After posting this, I thought I would check my score through Chase because I have a credit card with them. 819. Go figure. I have done nothing that would cause this change that I know of. I used the card on a short trip, but paid it off before interest kicked in.


________________________

"If you can't be a good example, then you'll have to be a horrible warning" -Catherine Aird
 
Posts: 6319 | Location: The right side of Washington State | Registered: September 14, 2008Reply With QuoteReport This Post
Too old to run,
too mean to quit!
posted Hide Post
Same thing here. We have not had any debt since the wife paid off our home mortgage a year before I retired, 25 years ago.

Strange thing, to me anyway, was when we bought my new car back in 2011, we told the dealership that we would pay cash for it. They insisted that they had to go through a credit check anyway! I started to get "excited" but the Mrs calmed me down (a little).

AIR, our credit rating came back at something around 860. We use our only credit card for a lot of purchases as we get some kind of payback which means we come out ahead. We have a not cost credit card through our credit union.

If some idiot at a bank, like JP Morgan, screwed up our credit score, I can assure everyone that we would instantly close all accounts there.

We have several accounts at our credit union, every one of them are "deposits".


Elk

There has never been an occasion where a people gave up their weapons in the interest of peace that didn't end in their massacre. (Louis L'Amour)

"To compel a man to furnish contributions of money for the propagation of opinions which he disbelieves and abhors, is sinful and tyrannical. "
-Thomas Jefferson

"America is great because she is good. If America ceases to be good, America will cease to be great." Alexis de Tocqueville

FBHO!!!



The Idaho Elk Hunter
 
Posts: 23016 | Location: Virginia | Registered: December 16, 2001Reply With QuoteReport This Post
On the DL
Picture of V-Tail
posted Hide Post
No, the credit score did NOT go down because the account was closed.

It went down because Chase / JP Morgan actually reported a late payment! THERE WAS NO PAYMENT DUE, because the mortgage had been paid off.

I did not owe a payment, there was nothing due, but the bastages reported a late payment.



A mind is a terrible thing.
 
Posts: 17478 | Location: Central Florida (near Orlando) | Registered: January 03, 2010Reply With QuoteReport This Post
Crusty old
curmudgeon
Picture of Jimbo54
posted Hide Post
quote:
Originally posted by V-Tail:
No, the credit score did NOT go down because the account was closed.

It went down because Chase / JP Morgan actually reported a late payment! THERE WAS NO PAYMENT DUE, because the mortgage had been paid off.

I did not owe a payment, there was nothing due, but the bastages reported a late payment.


Have you talked to them yet? If so, have they said that they will make it right?

Jim


________________________

"If you can't be a good example, then you'll have to be a horrible warning" -Catherine Aird
 
Posts: 6319 | Location: The right side of Washington State | Registered: September 14, 2008Reply With QuoteReport This Post
Big Stack
posted Hide Post
Challenge it. I think you need to do this through the credit bureaus. Send them your evidence, and they should remove the late payment report.

quote:
Originally posted by V-Tail:
No, the credit score did NOT go down because the account was closed.

It went down because Chase / JP Morgan actually reported a late payment! THERE WAS NO PAYMENT DUE, because the mortgage had been paid off.

I did not owe a payment, there was nothing due, but the bastages reported a late payment.
 
Posts: 17756 | Registered: November 05, 2003Reply With QuoteReport This Post
His diet consists of black
coffee, and sarcasm.
Picture of egregore
posted Hide Post
quote:
Challenge it.


Like, yesterday.

quote:
I think you need to do this through the credit bureaus. Send them your evidence, and they should remove the late payment report.

Chase has 30 days to prove they are in the right, or the ding must be taken off.
 
Posts: 20195 | Location: Johnson City/Elizabethton, TN | Registered: April 28, 2012Reply With QuoteReport This Post
Oriental Redneck
Picture of 12131
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At your age, why worry about credit score? Razz
 
Posts: 14948 | Location: TEXAS | Registered: September 04, 2008Reply With QuoteReport This Post
quarter MOA visionary
Picture of smschulz
posted Hide Post
Look at the bight side now you have money to pay cash.
Nothing to worry about unless you are competing for another loan.
 
Posts: 14878 | Location: Houston, TX | Registered: June 11, 2006Reply With QuoteReport This Post
Member
posted Hide Post
Screw Chase Bank. I tried to change a one hundred dollar bill into smaller bills and was refused because I didn't have an account there.

I did have a car loan at that bank until a year ago when it was paid off and sold back to VW. But, that didn't matter as I did not have a current Chase account.


*******
GOD gave them whiskey so the Irish wouldn't rule the world.
 
Posts: 5689 | Location: Arizona | Registered: August 17, 2008Reply With QuoteReport This Post
Savor the limelight
posted Hide Post
Did you follow through with the suggestions the forum made when you went in to pay off your? If not, are you now wishing you had?
 
Posts: 3571 | Location: SWFL | Registered: October 10, 2007Reply With QuoteReport This Post
Member
Picture of JSB3
posted Hide Post
Go online and file a complaint with the CFPB. Most banks have a policy to contact the client within 48 hours of a complaint being received. They will call it the Office of The President or some crap like that. Be polite as the person you speak to will probably be the same to resolve your complaint on the back end.
If your account was paid off, this will probably require simple research on the banks end and be resolved within a few days. It may take up to 90 days to reflect on your credit score though, depending on the bank.
I handled this exact same issue in my position for over a year at another one of the monster global banks.


Blaming the crime on the gun, is like blaming a bad story on the pencil.
 
Posts: 1003 | Location: Saint Charles Missouri | Registered: November 30, 2004Reply With QuoteReport This Post
Dances With
Tornados
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They'll probably initiate foreclosure soon.
 
Posts: 7126 | Registered: October 26, 2009Reply With QuoteReport This Post
On the DL
Picture of V-Tail
posted Hide Post
quote:
Originally posted by OKCGene:
They'll probably initiate foreclosure soon.
I need to check with the county recorder's office, or whatever it's called, to confirm that the mortgage payoff is recorded there.



A mind is a terrible thing.
 
Posts: 17478 | Location: Central Florida (near Orlando) | Registered: January 03, 2010Reply With QuoteReport This Post
Crusty old
curmudgeon
Picture of Jimbo54
posted Hide Post
quote:
Originally posted by V-Tail:
quote:
Originally posted by OKCGene:
They'll probably initiate foreclosure soon.
I need to check with the county recorder's office, or whatever it's called, to confirm that the mortgage payoff is recorded there.


Keep track of your time spent on this and send the bank a bill for your time. I know I would.

Jim


________________________

"If you can't be a good example, then you'll have to be a horrible warning" -Catherine Aird
 
Posts: 6319 | Location: The right side of Washington State | Registered: September 14, 2008Reply With QuoteReport This Post
On the DL
Picture of V-Tail
posted Hide Post
quote:
Originally posted by Jimbo54:
quote:
Originally posted by V-Tail:
quote:
Originally posted by OKCGene:
They'll probably initiate foreclosure soon.
I need to check with the county recorder's office, or whatever it's called, to confirm that the mortgage payoff is recorded there.
Keep track of your time spent on this and send the bank a bill for your time. I know I would.
I too, am a "Crusty Old Curmudgeon." I can certainly drop an invoice to them, but the probability of actually receiving any payment is something less than 0.00000000001.



A mind is a terrible thing.
 
Posts: 17478 | Location: Central Florida (near Orlando) | Registered: January 03, 2010Reply With QuoteReport This Post
goodheart
Picture of sjtill
posted Hide Post
My bet is that a call to Chase mortgage will clear that up in about 30 seconds. In any case, let us know.


_________________________
"Look around. Female capitalists do well. Black capitalists do well. Hispanic capitalists do well. Those socialists, not so much, so often. There isn’t enough free shit to go around, and never will be. "--Jim Allen, sage
 
Posts: 13505 | Location: One hop from Paradise | Registered: July 27, 2004Reply With QuoteReport This Post
Eschew Obfuscation
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quote:
Originally posted by 12131:
At your age, why worry about credit score? Razz

Yep. Smile

While in your case I would tell Chase to fix it, I’m also old enough now that I don’t care too much about my credit score.

I recently had a dispute with a medical lab. They performed an expensive test without getting the ok from my insurance company. When the insurance company wouldn’t pay, the lab wanted me to pay. I told them it was their screw up and I wasn’t paying.

They sent it to a collection agency. When they called me, I told them to go pound sand. They reported it as a bad debt and my score went down 50 points. I’m not buying a new house and have no plans to buy a new car, so I don’t care.


_____________________________________________________________________

NRA Endowment Life Member; ISRA Member
_____________________________________________________________________

“It is amazing how many people think that they can answer an argument by attributing bad motives to those who disagree with them. Using this kind of reasoning, you can believe or not believe anything about anything, without having to bother to deal with facts or logic.” ― Thomas Sowell
 
Posts: 3991 | Location: Chicago, IL | Registered: December 17, 2007Reply With QuoteReport This Post
Diogenes' Quarry
Picture of at-home-daddy
posted Hide Post
quote:
Originally posted by Elk Hunter:

Strange thing, to me anyway, was when we bought my new car back in 2011, we told the dealership that we would pay cash for it. They insisted that they had to go through a credit check anyway! I started to get "excited" but the Mrs calmed me down (a little).



I had the same thing happen...told the salesperson and sales mgr. I was paying cash for our new CX-5 and so did not want them to run any kind of credit check. They said, No problem..but then when I went into the Business Office to do the paperwork, I was told they ran the check and all was fine. Like you, I got a little politely "excited" and was told they had to do it "to make sure you are who you say you are." Didn't make sense then, doesn't make sense now. I had cash, a driver's license, and proof of insurance...I don't know how much more identity proof they need.

I went through with it because I'd negotiated a good deal, but I've not been back for service and I've warned a few other prospective folks from them. Their little stunt has potentially cost them far more profit than they ever made from my sale.
 
Posts: 4861 | Location: Western WA  | Registered: October 20, 2003Reply With QuoteReport This Post
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