- Report: #1116943
Complaint Review: Chase Payment Assurance - Select State/Province
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Chase Payment Assurance
P O Box 3347 Coppell TX 75019 Select State/Province, USA
Phone:
8005137141
Web:
WWW.Chasebank.com
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Chase Payment Assurance Chase Bank, J P Morgan Chase Chase Bank missrepresented Terms & Benefits of Their Payment assurance disability plan Coppell Texas
I took out a Mortgage line of credit with Chase Bank back in 2006. At the time I told them I wanted Disability Insurance to pay the loan off in case I became disabled or died. I made this clear while discussing the loan. The person I talked with assured me that was no problem and the fee would be included in my payments each month. I was never explained anything about the coverage. I assumed they sold me exactly what I asked for because I was never told any different. When I signed the papers I was again assured I had the coverage and no mention of limitations were *disclosed to me. I was only told I had the coverage. *After the loan was closed they gave me copies of all the documents and I told me I didn't have to read at that time, that I should just sign the documents for the loan and if I had any questions about the paperwork I could ask questions later. I felt pressured to sign or I would not get the loan. I had 2 claims. I think they were in 2009 & 2011. Each was for just a couple of months and they were paid. In Jan of this year I became totally disabled. I am drawing LTD and have applied for SSD. I turned in a claim with chase payment assurance and it was denied. The reason given was The policy had a 2 claim limit for disability. I was not sold what I requested. I was not told of any limits in the plan. I was not told about gold, silver, or bronze tiers, only that I had coverage and the fee would be included in my monthly payment. CHASE MISREPRESENTED THE BENEFITS OF THEIR COVERAGE.
I also had an auto loan and took out the same insurance. They paid as well. However in 2011 they canceled the coverage and gave me a 100% refund (about $1600.00) Telling me they no longer sold that type of coverage. I later found out they were forced to do it by a government agency. I want to know if I can sue them either personally or thru a class action suite? They did not disclose the limits of the policy, told me I was fully covered when I was not, and I now pay about $30.00 a month on coverage I can not use AND STUCK WITH $300+ PAYMENTS I really can't afford. I am now disabled for the rest of my life and stuck with a payment when I thought I had purchased coverage to pay for in case I ever needed it. Has anyone else had this type of ripoff with Chase Bank payment assurance? What can be done about it?
2 Updates & Rebuttals
Bill
Jeffersonville,Indiana,
So illegal activities are legal?
#2Author of original report
Mon, January 20, 2014
Oh, ok so it was ok for the bank to missrepresent their product, Coherse someone into signing a loan document under duress of not getting the loan, and verbally agreeing to one thing then selling another without verbally telling you, is all legal? I thought that was a part of the problem with the recent mortgage problems that prompted the US AG to require chase (and other banks) to make refunds, forgive loans, and make adjustments to loan contracts?
So I guess I am just screwed and Chase can do anything they want to screw the consumer.
But I still do not understand why they are allowed to lie to consumers and get away with it, but when they lied to investors they were made to pay damages. Really don't understand the difference.
Tyg
Pahrump,Nevada,
READING!!!
#3General Comment
Mon, January 20, 2014
There is no DIRECT resolution for you. THEY can ONLY go by whats in the paperwork you signed. It doesnt matter AT ALL what you were told. The ONLY thing they have to follow is the terms and conditions set down when you originally signed your contract. If you chose to NOT READ the paperwork in front of you then its all on you. You may feel as if you were ripped off, but they already have paid out on your claim.
