Complaint Review: Chase Auto Finance

Heres the story. I'm still threatened with collections for an amount Chase VP stated in a letter I don't owe. I had to hire and attorney to fix Chase's mess. I personally made over 70+ documented calls.

RE: JP Morgan, Chase Auto Finance, Garden City, NY A Seven year mess continues.

Chase charged me over $23,000.00 on a simple interest $48,235.00 loan for a BMW. I put $30,000.00 down on the car. Chase sent me a Maturity Notice for approximately $18,000.00 more in November 2007. I reaffirmed in 2003, thats when the trouble started of miscalculation of interest to their advantage, which prevented me from selling the car due to, too high a principal amount. Then threatened me extensively with collections and repossession again and again stating they would find me no matter where I went. After an attorney I was forced to hire I still cant get an accurate calculated amount.

After sitting on hold over 70+ documented times; transferred around and disconnected -
All I ever heard - over and over and over - for several hours at a time is:
Chase the right relationship is everything, Chase the right relationship is everything.

Due to sickness I tried to sell the car and upside down on the loan due to Chases inaccurate principal/over interest calculations, always short about 5-6K. My payments at $858.98 were killing me.

In 2006-2007 for months all and on, they stated my payments were not due and then I received an 18K notice to pay or else with collection notices. Without my knowledge Chase changed their computer system. It appears in a desperate attempt to correct, inaccurately. Now 160K miles and forced to pay high maintenance costs to keep it running, I still dont get an accurate payoff to my loan with an accurate loan summary.

I made over 70 documented calls (ACT data base notes) to Chase since 2003. I have all my phone records for the duration of my loan. I was forced to hire an hourly attorney when I received the 18K notice 11/2007 to stay out of repossession again. Looks like they illegally repossessed the car twice.

The Vice President- Chase - Andy Sulfsted - 602-221-3835 finally acknowledged there was a problem with my loan only after an attorney was involved. He stated I had a 9% simple interest loan. . Mr. Sulfated stated I had a 39 mo loan when its actually 46 month as I have the payoff coupons. Per the Edmonds.com car calculator Mr. Sulfated, shows a tap dance of calculations which still do NOT add up to the correct payment we calculated. Additionally, Mr. Sulfsted stated: the reaffirmation terms were based on an outstanding balance of $34,517.23. HOWEVER, Chases principal and interest full loan calculationcomputerized summary shows my loan was calculated during the reaffirmation at $28,708.42 and Mr. Sulfsted is WRONG or LIED to cover up.

Mr. Sulfated sent a letter of somewhat apology in January 2008, with lowering the loan amount to $4,294.00. However, their collections is still threatening repo for approximately $18,744.00. Mr. Sulfsted will not return my calls since my hourly attorney is not on the case. Even though his latter states I owe much less than $18, 744.00. Therefore, it appears I am threatened with repossession and collections in which they will find my anywhere, for a loan amount I do not owe. When their own so called Vice President was to re-calculated and fix it !!

The Chase VP also stated he enclosed the reaffirmation contract with his letter to my attorney. AND, he did not enclose it. He only enclosed the original contract I signed with Sterling BMW. My Attorney and myself have never been able to get Chase to turn over my reaffirmation agreement. Now Im stuck with attorney fees too.

My hired attorney stated in correspondence to Chase that it was the most messed up loan hes ever seen. Chases collections were all over me. They had already previously filed liens in OC courts when I was not to be in repossession in 2005.

I tried to sell the car on many occasions to get from under the high payments/ high maintenance costs of a BMW. Brakes; $1,800, tires $2,000. Approx $4,000-$6,000 per year maintenance with leaks etc. Car now has 160K miles. I had to barrow money from friends, at times; to make my Blue Cross monthly payment, food, doctor bills, etc, as I was sick for many years. I needed the car for Dr appts and was upside down on the loan. The high cost of mo payments and maintenance were killing me. The value of the car was MUCH, MUCH lower than the principal amount. I was stuck with Chase loan for years and could not even refinance with another company. The stress of having to borrow money from friends was horrendous.

Chase credited payments and un-credited them charging me late fees. Chasesloan summary shows a great deal of payments were not credited to my account until about a year later. A collection person stated my checks bounced when I tried to explain the problems. I have every check written since the duration of my loan and none bounced. About 11 of my payments were not credited until a year later.

I made over 70 calls to Chase. All documented using my cell phone with ACT database. Chase only transferred me around, disconnected me and I would be forced to call back again and again, desperately begging for help on many occasions. This caused a tremendous amount of stress, anxiety and I have a heart problem, IBS, signs of LUPUS. I get fevers when I get upset now since all this started. Cell phone records will show hours on the phone at a time. My data base notes state how I cried.

Chase repossessed the car in 2004. If the payments had been correct with principal I would have had the extra money to pay. Again, I was trying to sell the car that year and stuck upside down on the loan. I was charged extensive repo fees. It loan was calculated properly, should have had extra money. I tried to explain to their collections, I woke up my car was gone. I have lived in fear since of my car disappearing.

Chase tried to repossess the car again in 2005. They had attorneys this time. The attorney letter stated I had 30 days to dispute. I disputed it. I should not have been behind or even been in repossession at all. However, they already filed (2) liens in OC Courts, on my record and then admitted a mistake. The liens stayed open for years and I disputed prior to the 30 days. With the liens, I was denied an apartment. It looked at though my car was still in repossession 3 years later.

Thinking I made payments to this company above and beyond all these years. while trying to get out from under this loan, with 70 calls.makes me physically ill to this day and very, very angry, stress, upset, sleepless, anxious.

This past September 2007, after a Chase Manager told me in July 2007, I had an 18K balloon coming in November 2007. I was put on rest disability, my fevers become more frequent. Now stuck with attorney fees to correct their mistake. I tried desperately to understand the mess with my loan. Chases representative, Managers, and Chases Vice President will not give me an accurate statement of accounting, payoff amount.

End of December again I could not sell the car as the pay off amount is much greater than the loan amount. I was forced to put another 3500 to keep it running, the steering went out. Now my radiator is leaking and the suspension is out. I need to get out from under this mess.

I want restitution from Chase and desperately need a consumer activist attorney on contingent. I have all documentation since the origination of my loan. .

My hourly attorney wrote on my behalf:

Ms. ______:

I hope this works out for you. Chase really jerked you around and you did not deserve that. They do that because so few people actually see an attorney and hold their feet to the fire.

Good luck on this.

Signed attorney