We walked foolishly into this transaction with Chase out of desperation of needing a car. We were not coaxed nor talked into it. We were persuaded by the cost of replacing the transmission in the vehicle we had. We should never have made this decision as quickly as we did. Our fault, end of that chapter.

I will also not blame Chase for the financial bind we put ourselves into, however I do feel they take advantage of people with the type of loans they make and the interest they charge. But again, if we had not been so desperate, thinking this was our only option, we wouldnt have signed the papers and I would not be writing this letter. Our fault again for not paying enough attention.

Where I do find fault with Chase is in the way they do business. But, I guess this is the way corporations do business these days. As long as companies like Chase can distance themselves from the individual customer, they can be uncaring and cold in their practices. I am not asking for special treatment, dont get me wrong. I have a responsibility and I want to own up to it, but look at me as an individual. Look at my past performance, understand that I may have a problem and run into a hiccup in my finances.

Oh, when the customer service rep is on the phone with you, you are made to feel like you are so very important and they have strong desire to help you. What one does not realize in that moment, that the main goal is to sugar coat the fact that while they are helping you, they are only thinking to get through this phone call and on to the next dead beat that does not pay their bills on time. In helping they suggest various sorts of ways, down to borrowing money from your neighbor. The ultimate let us help you I got last year was to defer two months payments. This way we avoid annoying phone calls and you can get caught up and start fresh in two months. Great, thank you --- for nothing.

January roles around and the process of trying to purchase a home begins. Yet another assembly of flaming hoops to jump through, but that is another story. Chase has reported not the two actual (which I am not proud of) months past 30 days, but rather four consecutive months. I was told that Chase only shows two when I called three times in one week. When I called the fourth time, the following week, I finally reached someone who walked through the payment history with me.

after being told by the three previous employees they cant see the history, only that two payments had been late. Hmmm..lazy or just untrained? As we walked through the history, yes, two payments, May and July were late. And yes, there is reason, which I explained each and every time to every person I talked to at Chase in those months which I was desperately trying to keep our finances afloat, not that they bother to make note of that, its better to have the customer repeat over and over the struggle.

I digress. Ms. Corrales explains to me that she will personally take care of this error in reporting to the credit bureaus (which I might add were not all reporting the same information) and request that it is corrected and that I would also receive a letter that I could give to the lender for the mortgage.

I waited patiently for two weeks to get said letter. When I got it, it was a form letter that indicated after researching the account, what was reported was indeed accurate and therefore no changes would be made in to the credit bureaus. Nicely played Chase, nicely played.

Upon speaking with an overly cheery Rosie Something-or-Other, who made me feel like the Steve Martin character from Planes, Trains and Automobiles, you know the scene, and being on hold for over 5 minutes, came back to unnecessarily go over the history with me three more times, then tells me she needs to research this info and I could either hold a few more minutes or she could call me back.

I told her I would call Ms. Corrales, which I did. Who also put me on hold for about 9 minutes only to return and offer the same deal Rosie had. At that point, I informed her that no, I needed to pick up a kid from school then my husband from work, why? because two weeks ago, we were in a four car collision resulting in his car being totaled and we are now down to one car and yes, I interjected with how badly I wished it had been the Malibu call me back.

Which she did, leaving a message with the term rolling delinquencies, meaning we are basically screwed because Chase has determined that while May was late, it is not reported as such, June was late but not past 30 days, but because May was past 30 days, June had (yes, had) to be reported as delinquent. Because July and August were paid in a double payment, August not being 30 days late, they both had to be reported as delinquent. September, which was deferred (and they try to tell me every time that only October was deferred until I insist they check the record and only then do they see that it was September and October both) for some asinine reason, is also reported delinquent.

No payment was due, but it is accurately reported delinquent. Ms. Corrales did seem genuinely sorry that she had misinformed me about correcting the error two weeks ago, but there was nothing she could do for me further. She told me it does not make sense to her either and that it took quite a bit of explaining for her to understand what rolling delinquencies meant, which she was unable to restate other than to repeat how it was reported, not why it was reported this way. Somehow, that all seems fair and accurate to Chase and Im guessing to the credit bureaus as well.

So, thank you Chase for your cold and uncaring attitude toward your customers. I know I am not alone, as I publicly announce my intense loathing of your company; I am comforted in a rather twisted way to know others are treated as poorly as I have been. I am one person, but I will use my voice. Anywhere and everywhere I can get the word out as to your horrible business nature I will.

Click Here to read other Ripoff Reports on Chase Auto Finance

6 Updates & Rebuttals

Robert

Irvine,
California,
U.S.A.

Reality Check Time...

#2Consumer Comment

Sun, February 03, 2013

You really think you are going to get approved for a Mortgage?

Lenders don't care about why you have negatives. When it comes right down to it, it does not matter if you got behind because you took a vacation or had a Broken Arm or had to have Car Repairs. They are talking about risking hundreds of thousands of dollars and you are not seen as an individual. Banks tried that a few years ago and gave Mortgages out like candy to people that in no way shape or form should have been approved..and you see where that got us.

Now, yes you can dispute these late payments and if it is incorrect you have the legal right to have it corrected. But you also seem to think that going from four to two 30 Day Late payments is going to magically improve your credit enough to be able to get approved for a Mortgage. You may actually be in for a huge reality check. First these appear to be recent(within 24 months), and even one 30 Day Late is enough for banks to deny people a mortgage..and you have 2.

Next, people that are financially able to afford a house don't just a few months before need to defer payments on a car loan..again the reason does not matter. So this is probably an indication that you have other financial and credit issues that are going to be a road block. Just about every bank will deny a Mortgage that has a payment greater than 28%, and/or overall debt ratio is over 33%-38% of your monthly income...regardless of your credit.

You seem to think that your Mortgage will be less than Rent, and that can be a possibility but perhaps not as much as you think. Unless you are putting 20% down(and based on what you have written that is doubtful), you will be required to carry PMI. This can easily add another $100+ to your monthly mortgage payment. You then also have to include things such as Insurance and Property Taxes that depending on your location and house value could be another $100-$500+ per month. If you happen to be in a house that is part of an HOA, you will also need to pay HOA dues and those can vary from $75-$400+ per month.

On your Down Payment. You will need anywhere from a minimum of 3%-5% to put down on a house, the Zero Down options went away for all but the top borrowers(and with 2 late payments you are no where near this status). So on a 150K house at a minimum you need $4,500 to $7,500 saved up, and after you include all of the other closing costs it will probably be closer to about $10,000 as a safe amount. Banks are also very particular about this source. That is if you are borrowing the money they may not accept it.

One final item. You have not said what step you are at in getting a Mortgage, but it is probably in the very beginning. If this is the case be very careful about the loan you are being promised. An ARM(Adjustable Rate Mortgage) is going to have lower Interest Rates than a Fixed Rate Mortgage. But after the initial period that rate(and your payments) will increase. DO NOT fall for any banker telling you that you can refinance in a few years. There is no guarantee that you can and if by chance you don't later get approved for a Fixed Rate Mortgage you are going to have some serious issues. So unless you can get a Fixed Rate Mortgage...continue to save and work on your situation until you can. In the long run you will be very thankful you did.

If you don't believe anything I have said..go ahead and talk to a few Mortgage brokers and see if they don't tell you exactly the same thing. If you do and they are pushing the ARM..just ask them one question. Can they put it in writing that they will guarantee that you can refinance to a lower rate in a few years...I can guarantee you that not a single one will..and that should be all you need to know about how bad they can be.

willobi

Knoxville,
Tennessee,
USA

Don't let it bug you....

#3Consumer Comment

Sun, February 03, 2013

Don't let the people on this site bug you. Most of them sit around and read every post so they can hit you with the"pay your bills" and "deadbeat" replies. These people are no better than the creditors. They just lump everyone into the same pile with no regard for the reason you got behind. To them anyone who gets behind, for any reason, is a deadbeat. Karma is a b***h, someday they will be in your shoes. See what they say then! As someone who has "been there, done that" you have my sympathy I hope things work out for you.

BethLunday

Midlothian,
Texas,
United States of America

How can I afford a house???

#4Author of original report

Sun, February 03, 2013

Here is how I can afford a house, you asinine person -- My house payment will be considerably less than what I am currently paying for rent -- by the amount or over the car payment. It really doesn't take a brain surgeon to figure out when you can cut the cost of your monthly expenses it makes sense. But perhaps in your corporate mind, that doesn't compute. Wondering, if you think I'm such a whiner, why you read through the entire post.

And thanks for the thought on disputing with the credit bureaus. Gee, I hadn't thought of that, I'm too busy whining about things. Of course I'll dispute it. It behooves me that when people read this post, you somehow focus on my complaint about Chase rather than seeing that in the very beginning I take complete responsibility for not being smart enough to NOT walk into this contract. Really.

Not asking for sympathy, not asking for someone to pay my bills, I'm a person who just wants the credit reporting to be accurate.

BethLunday

Midlothian,
Texas,
United States of America

Yes, it is my fault --

#5Author of original report

Sun, February 03, 2013

Obviously you didn't understand that I take responsibility for not making the payments on time. I am NOT a "blame someone else" person. I want to pay the loan, and here is my response to your comment....

The simple solution to not having a problem if you simply make the payments on time is like telling the cancer patient they did something bad and deserve to die from a terminal illness but if they try to be good and pray enough, God will heal them. Stupid, isn't it? Yes, because most of us don't get behind because we want to or because we take a fabulous vacation. Most of us get behind because we have a family and things that need taken care of, like a broken arm or repairs on said auto. But that doesn't matter to Chase nor any other corporation for that matter -- or you. My guess, you work for a collection agency or department in a company. You completely missed my point -- and furthermore, I simply want the incorrect reporting fixed, I don't want someone to pay my way nor am I blaming anyone for my not making the payments on time. I have a word for you but want my post published, so I won't use it. It starts with hard-_ _ _ and ends with i _ _ _ t.

coast

USA

consequences

#6Consumer Comment

Sat, February 02, 2013

"they take advantage of people with the type of loans they make and the interest they charge"

The interest rate is a reflection of your credit history. Don't complain about it after you have accepted the terms of the loan.

"Where I do find fault with Chase is in the way they do business."

Did they violate the terms of the contract? We know you did.

"Anywhere and everywhere I can get the word out as to your horrible business nature I will."

Will it be thirteen more paragraphs of sobbing and whimpering or maybe a novel about how you want to purchase a home but can't afford your auto payments?

You may want to consider filing disputes with each of the credit reporting agencies to get the reporting errors corrected.

Jim

Orlando,
Florida,
USA

What Chase DID NOT Do!

#7Consumer Comment

Sat, February 02, 2013

Did Chase make the late payments? Nope. YOU DID! If you don't like the possibility of late payments showing up on your credit reports then perhaps you should pay your bills ON TIME. This is nothing more than an absolutely CLASSIC example of "lets blame everybody else for what I've done". How #$*!X*+% sorry does it get!

Reports & Rebuttal